What do you think is future of Blockchain technology? Where do you see this in next 8-10 years?
Blockchain can help energize and unlock the sharing economy by making it cheaper to create and operate an online platform. For example, transactions could be coordinated by self-executing smart contracts or performed at lower cost by other small competing providers. The next phase of the sharing economy can emphasize today’s inequalities or ease them, depending on the purpose of the technology itself. Basically, blockchain is a different way of keeping track of a normative set of information, instead of storing the information in one central location the county records office, say, or Airbnb’s database blockchain makes multiple copies and distributes them across all the nodes of a network. These nodes don’t have to be people, they can be things. This is what makes blockchain a potentially powerful accelerant of the sharing economy as it gives a property the ability to know who its owner is.
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