[ad_1]
According to technology evangelists Don and Alex Tapscott, blockchain technology will prove to be the most disruptive technology of the next decade.
“We now have a valuable Internet that can give us another opportunity to rewrite the economic power grid and the old social order,” said Don Tapscott.
However, Tapscott senior points out that it will take time to transform established multi-billion dollar industries, such as the supply chain and financial transactions sphere.
Even so, Alex Tapscott pointed out that successful blockchain use cases are already gaining ground. For example, he said stablecoins are already having a significant impact on remittances and cross-border transactions.
“The flows between the different countries, especially in the global South, have increased significantly”, he stressed.
Decentralized exchanges have shown impressive growth over the past few months, Tapscott said. Tapscott expects traditional assets to gradually migrate to these types of exchanges, eliminating cumbersome middlemen.
While much of the ICO boom has been tainted with questionable projects, Tapscott has nevertheless identified this fundraising model as one of the most successful implementations of the blockchain.
“It doesn’t matter where in the world you are (…) If you have a compelling enough idea, you can tap into a global pool of capital and start a business.”
Finally, according to Tapscott, central banks will need to use blockchain to build their central bank digital currencies if they hope to compete with Bitcoin or assets created by companies like Libra.
In particular, he said, blockchain technology could provide the degree of privacy that CBDCs need if they want to replace cash.
Watch the full interview on our Youtube channel and don’t forget to subscribe!
