The CEO of Po.et, Jarrod Dicker, spoke to TechRepublic about the corporate adoption of the blockchain and how it could change almost every aspect of the business. The following is a modified transcript of the interview.
Dan Patterson: How do you resize what you are doing at the company? "
Jarrod Dicker: Great question. So this is a huge, I do not mean a challenge, but a great focus of discussion in the blockchain space in general. You want to stay faithful to decentralization, open opportunities to reach people all over the world, through transactional elements like Bitcoin and Ethereum, where you can use technologies like MetaMask to pay or other portfolios, which means high velocity volume and scale that is not synonymous with as these transactions, per second, work on the blockchain.
What you will see is that many of these companies that are blockchain companies are frankly not blockchain companies, or use some blockchain elements; perhaps they use a certain currency, or perhaps they use blockchain data storage, but they use non-IPFS hosting but AWS or elsewhere.
It's a challenge. I do not think there is a right or wrong way; I do not think that in a blockchain solution there is something negative that brings a serious value, because of what a certain blockchain, or a certain iteration of it, while it also leverage some things that are centralized. But philosophically, you come across some problems, because many people in this space understand that scale problem, but they are so focused on why many of us are in this in the first place, which is the decentralization and the value it can bring. Decentralization is extremely valuable, when it meant being able to exchange money without central banks, or when it comes to identity, being able to remove trust from a single source to fundamentally identify identity. What we are doing with reputation, the same thing. How do you build a consensus around these things?
SEE: How Blockchain will destroy Business (special function ZDNet) | Download as PDF (TechRepublic)
If you're trying to be – and that's why I laugh a lot about the blockchain of ad-tech stuff – where you're talking about millions of transactions per second and then you're doing it at the blockchain; how can it work honestly? And slowly, they are understanding it. Now there are things like Lightening Network and others that are creating the opportunity to be able to move faster and scale, but in no way can you build these business end-to-end products on the blockchain that could be used, let's say a Today CNET, to replace Salesforce, or something like that, is very philosophical; what I'm seeing is that people want to stick to the true value of decentralization, because if you move too far, it's a dangerous game, because then all of a sudden, you're just building what has already been built and you're just a bit To recycle old ideas.