Blockchain will prove to be the most disruptive technology in the next decade, according to tech researchers Don and Alex Tapscott.
“We now have an Internet of values that could give us a new opportunity to rewrite the energy system in the economy and the old social order,” said Don Tapscott.
However, Tapscott Sr. That it will take some time to transform existing multi-million dollar industries such as supply chains and financial transactions.
However, Alex Tapscott noted that successful blockchain use cases are already advancing. For example, he mentioned that stacked coins already have a significant impact on money transfer and cross-border transactions.
He said, “The flow between different countries, especially in the global south, has increased dramatically.”
Tapscott said the decentralized exchanges have seen impressive growth in recent months. Tapscott predicts that traditional assets will gradually migrate to this type of exchange, eliminating burdensome brokers.
Even though much of the ICO’s barrier may be tarnished by shady projects, Tapscott still calls this fundraising model one of its most successful blockchain implementations.
“It doesn’t matter where you are in the world (…) If you have a convincing enough idea, you can take advantage of the global capital pool and start doing business.”
Finally, according to Tapscott, central banks should use the blockchain to create digital currencies for their central banks if they hope to compete with Bitcoins or companies like Libra.
Specifically, he said that blockchain technology could provide the level of privacy that CBDC would need if they wanted to exchange cash.