The right way to think about the blockchain is that it’s going to replace the entire Internet.
I am pro-technology that improves the lives of many people in any way possible, and I think the blockchain has the potential to do that.
How do we create new value? You create value by running services on the blockchain.
I do think the blockchain infrastructure is here to stay.
Blockchain software companies may end up being amalgamated into existing software giants, at which point blockchain patents will just become part of the existing patent war.
Almost any illiquid asset today lends itself well to moving onto the blockchain and becoming tokenized. It will create a deeper market with improved price discovery and should increase the value of those assets.
I’m passionate about blockchain as a whole, decentralized finance as a whole.
The world is preoccupied with dissecting, analyzing and prognosticating on the blockchain’s future; technologists, entrepreneurs, and enterprises are wondering if it is to be considered vitamin or poison.
There are a lot of really fabulous things that get done with digital assets and blockchain technologies to reduce friction, to reduce costs, and enable things that weren’t possible before.
I have the great privilege and honor of serving as the Founder and President of the Chamber of Digital Commerce, the world’s largest trade association representing the blockchain industry.
I’m not wed to bitcoin’s blockchain. I’m blockchain-agnostic.
What’s really happening is that every bank in the country is experimenting with the blockchain and experimenting with bitcoin to figure out where the value is. For the first time ever, they’re working hand in hand with startups. Banks are asking startups for help to build products.
Some of the uses being implemented for blockchain could actually work better with a database.
Blockchain technology, or distributed ledger technology, is just a way of using the modern sciences of encryption to enable entities to share a common infrastructure for database retention.
Users and entrepreneurs building new business models off the blockchain means that there are competing interests on how best to scale the network. Linux, also an open source software project, had similar growing pains.
Pretty uniformly, people want the benefits of bitcoin and the blockchain – near-instant transfers, globally available on any Internet-connected device, highly secure, and nearly-free value transfers.
The main event isn’t bitcoin. It’s using the blockchain to disrupt other industries and Wall Street.
Bitcoin is a way to have programmable scarcity. The blockchain is the data structure that records the transfer of scarce objects.
The exciting thing about the current emergence of bitcoin 2.0 applications is that you don’t have to know anything about bitcoin or how the blockchain works to get a lot of utility and value out of the technology.
The old question ‘Is it in the database?’ will be replaced by ‘Is it on the blockchain?’
Bitcoin was created with security in mind. The Blockchain is Bitcoin’s public ledger that records every transaction in the Bitcoin economy.
Blockchain startups are suffering from a crippling, archaic, and antiquated state regulatory system – and it’s driving innovation abroad. Many blockchain start-ups trigger or may trigger money transmitter laws and regulations.
People didn’t know where they could trade. When everybody owes each other IOUs that can be in multiple places at once, that’s how the system couldn’t tell any more who owned what and who owed what to whom. Blockchain could have prevented 2008.
Turning cash flows from contracts of professional athletes into securities is now possible through the power of blockchain.
Just like paying a toll to use a freeway, the token can be the pay-per-use rail for getting on the blockchain infrastructure or for using the product. This also ensures that users have skin in the game.
There is absolutely no reason in the world of blockchain to build in net settlement. It’s like saying you have got a new Ferrari and we are going to put a lawnmower engine in it.
The blockchain concept was pioneered within the context of crypto-currency Bitcoin, but engineers have imagined many other ways for distributed ledger technology to streamline the world. Stock exchanges and big banks, for example, are looking at blockchain-type systems as trading settlement platforms.
In my opinion, one of the most exciting potentials of the blockchain relate to creating new business models, whether in public or in private settings. In most of these cases, the new models don’t care for incumbents because they are mostly on a disruption quest.
The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.
Most blockchain platforms don’t share that much in common, resulting in choice lock-ins, lack of interoperability, and potentially dead-ends that are hard to untangle.
Blockchain is an innovative technology with the power to change society and is gaining the world’s attention as a technology to enhance the competitiveness of the urban economy.
Few incumbents will succeed in deploying blockchain applications to enable new business models. The innovator’s dilemma will prevail. Even if they aspire to, they must first get their feet wet within their business boundaries.
If blockchain technologies ignore the eventuality of standards, we are going to see less adoption. Maybe we should think of the blockchain as a public-good utility and encourage an evolution that is not unlike the Internet’s in terms of openness and neutrality of access.
Blockchain technology isn’t just a more efficient way to settle securities. It will fundamentally change market structures, and maybe even the architecture of the Internet itself.
Blockchain’s a very interesting technology that will have some very profound applications for society over the years to come.
Everything will be tokenized and connected by a blockchain one day.
I love this stuff – bitcoin, ethereum, blockchain technology – and what the future holds.
The blockchain industry generally agrees that some kind of a national license or charter is the best way to go, similar to the United Kingdom, where there is only one central regulator.
The blockchain symbolizes a shift in power from the centers to the edges of the networks.
The ledger, the distributed database – it’s called a Blockchain – is held in the cloud by all the parties involved. It can’t be broken by any of them. It’s cryptographically too strong. You would have to compromise the entire network to take over Bitcoin.
Let’s hope the Canadian public sector starts putting the blockchain on their agenda so we can see a significant difference in how government services are delivered.
There is definitely a lot of banks that are interested in private blockchains. In some cases, they are happy with public blockchains as well. The opposition to just doing things on a public blockchain is definitely smaller than some of the strongest detractors think.
There are a lot of really fabulous things that get done with digital assets and blockchain technologies to reduce friction, to reduce costs, and enable things that weren’t possible before.
Blockchain should be used to address opportunities and problems that lack easier answers.
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