The Co-founder of Ethereum said that the adoption of blockchain technology is a matter of time, as he said in an interview that took place recently in Uruguay.
Yanislav Malahov, also co-founder of Æternity, the smart contract platform, scalable with an integrated governance system, will be presented at LaBITconf, the most important bitcoin and blockchain event in Latin America that will take place on December 12 and 13 in the capital Uruguayan, Montevideo.
According to the publication, in the interview he was asked how he saw the adoption of blockchain technology and replied:
“We have not reached the point of mass adoption, but there are clear indications that we have reached the point that it will not disappear. For example, we see governments carrying out blockchain technology application pilots, or multinational companies such as Facebook, JP Morgan and more than 100 banks conducting technology pilots. That gives us the confidence that we will soon reach mass adoption levels … Blockchain technology was created 10 years ago and has already achieved notoriety although not mass adoption. It is a matter of time, not trust. ”
Malahov also referred to the current use of blockchain technology as in areas of identity controls, contracts, notarization, financial systems, insurance, shared economy (cars, apartments, among others), production traceability, process auditing, compliance of standards and compliance.
He also said that the Æternity team partnered with Uruguay Can, one of the leading cannabis producing companies in South American territory, in order to launch a platform for the traceability system of its product on a blockchain, as a guarantee of its quality, such as reported last month by this means.
When questioned about whether mistakes have been made in the sector, he replied as follows:
“The main mistake is that some companies in the blockchain area did not take into account the regulatory differences in each jurisdiction, so some governments closed to the possibilities of this technology. Another mistake was security; some individuals did not follow the rules of safekeeping of their private keys and suffered theft of securities, as if a person wrote the PIN of their card in the same plastic and was lost ”.
Another prominent question of the interview is whether the security provided by blockchain as a solution could be used for the different government elections, to which Malahov replied:
“Without a doubt. The characteristics of immutability and of not being hackable make it an ideal means not only for elections but also to create a liquid democracy platform where citizens, as in Switzerland, can be consulted in an easy and safe way about their opinion on different issues of national importance ”.
The enthusiasm for blockchain technology increases
It is clear that every day there are more companies from various sectors, both public and private, that are committed to blockchain technology for the benefits it can provide to their processes. As recently published by this medium, the enthusiasm for blockchain technology has increased according to the study conducted by CB Insights.
The CB Insights company is responsible for analyzing “millions of data points on venture capital, startups, patents, associations and news mentions,” and revealed that the mentions of the word “Blockchain” in the earnings call of the United States saw its first increase in almost two years.
Therefore, according to the data obtained by CB Insights, the number of mentions of “Blockchain” in these conference calls increased by around 25% to reach 125 mentions in the fourth quarter of 2019. This represents the first quarterly increase of those mentions from its maximum of around 275 at the beginning of 2018.