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Decentralization is a more important phenomenon than the blockchain, a senior executive of South Korean technology giant Samsung, in an interview with the IT journal JAX Jan. 10.
Speaking of the future of the blockchain, Ricardo J. Méndez, technical director of the innovative technological arm of the company Samsung NEXT, has planned a consolidation of the space in the next year, but underlined the importance of reshaping the centralized structures.
When asked if he thought that decentralization was more important than the blockchain, Mendez replied:
"Without questions, Blockchain is just one more tool and can help in decentralized contexts, but an instrument is always less important than the goal".
The prospect puts Samsung in a somewhat smaller group of technological companies that supports the more ideological aspects of the blockchain phenomenon.
As reported by Cointelegraph, most major players continue to consider blockchain as a method to streamline operations such as supply chains, costs and paperwork, but rarely mention the advantages of a decentralized system similar to that of the Bitcoin network (BTC) .
On the topic of cryptocurrency, however, Méndez seemed eager to highlight the downside of the transaction method of many assets.
"It is enough to look at most cryptocurrencies, which are completely decentralized but also 100% public: their pseudonymy must be interrupted only once," he continued.
"Peer-to-peer approaches require you to pass on your activity to peers, so they need an extra layer of privacy (like a VPN or a mixed network), which is why, as a sector, we need to improve in explaining users the compromises of the different approaches ".
Samsung itself maintains a vested interest in testing based on blockchain and cryptocurrency, last month revealed that it was looking for a U.K patent. for a cryptocurrency portfolio.
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