Bringing Blockchain to the Masses – From Vision to Reality | PrismX Day 1

Blockchain

Bringing blockchain technology to the masses: experts discuss the four key problems to overcome, including performance, adoption, governance, and interoperability, on the path to mainstream adoption.

Key takeaways

To make blockchain mainstream, we need to solve four key problems: performance, requirements for mainstream adoption, governance, and interoperability.
Blockchain is expected to disrupt industries, but it’s not a technology for all, it’s meant to solve problems.
The key to mainstream adoption is choice and control, allowing individuals to make their own decisions.
Decentralized systems will be more robust and efficient, as trust will be distributed among nodes rather than intermediaries.
The gig economy will be transformed, with platforms reaping 20-30% of value, but with blockchain, the value will go back to users.
The ability to programmability and peer-to-peer interaction will enable new use cases, such as decentralized Loans, Work, and Identity.
The EU is a key region for blockchain adoption, with different countries adopting at different rates.
Interoperability is crucial, as it will enable different blockchains to communicate with each other.
Trust must be earned back, as users are weary of centralized systems.
There is a need for a better mechanism to deliver blockchain technology to millions of people globally.
The concept of sovereignty and ownership is key, as users should be able to control their assets, data, and identity.
Microsoft’s partnership with ConsenSys is a step forward in bringing blockchain to the masses.
The financial system will be transformed, with intermediaries disappearing, and trust increasing.
Regulation will play a crucial role in the adoption of blockchain technology.
The panel agrees that it will take time for blockchain to reach mainstream adoption, but they are optimistic about its potential.

Bringing Blockchain to the Masses – From Vision to Reality | PrismX Day 1

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