Cryptocurrencies are not taking up very many headlines just yet, but they soon might be. So far, the young market appears to be following Shervin Pishevar’s comments about the emerging global economy. Blockchain development continued as crypto prices were down. Its use cases began to shift focus from small businesses to the streamlining of large organizations. However, anyone who paid attention to what Shervin Pishevar had to say would recognize that cryptos were not dead. After all, how are these large companies going to trade amongst themselves? Won’t they need an independent blockchain to further their efforts of more efficient data management?
Blockchain Encourages Better Economic Solutions
Those who have not been listening to Shervin Pishevar might assume that the banking industry can step in with a revamped credit solution. A few things are problematic with this assumption. First of all, there will invariably be issues when blockchain data flows mix with outdated ideas. Such implementations will likely create bottlenecks. Secondly, if forward thinking, large organizations trust digital ledger technology enough to help manage internal operations, then why would they not jump at the chance of a fair, open source, and transparent solution. This is not the type of solution that the banking industry is suited for. Finally, blockchain already existed as a public network before being instituted privately. It just makes sense to build on top of existing architecture rather than try an unproven (and idealistically backward) solution.
Tying Value Directly to Transactions
Shervin Pishevar noticed these economic changes a year ago. Today, blockchain infrastructures have advance a lot. This advancement is probably a very significant factor in determining Shervin Pishevar’s vision of a blockchain dependent future web. Blockchain technology is rath r complex. A lot of hours go into its development. Often times, developers are all but certain that something is possible. They merely need the time to build, test, and implement. After that, it’s about consumer acceptance. A better product tends to be adopted. This is what cryptocurrencies represent- an improvement over the current credit system that governs digital transactions.