Everyone we meet has been talking how they Golden is Bitcoin and how Blockchain is revolutionary. We meet very few people who are truly trying to use this revolutionary tech to create disruption. And then far fewer who are thinking true and beyond like lalaworld
to make lives better for the millions where this could be put to use.
I was fortunate enough to have met few outstanding cryptographers this week who also happen to be top security experts. It was an eye opener.
We all know the world is changing fast - for good. But we seldom don’t realise in our comfy sofas that the bad is also catching up really fast. Blockchain as a technology has been unhackable so far but the products and architectures build top has experienced several vulnerability. Here are some key takeaways from the best in industry:
- All governments are excited about Blockchain and working on how best to implement in their existing structures
- Central banks want stability. Blockchain is disruption. Central bankers know that even Securities as they exist today are traded via so called “blackpools” - knowingly or unknowingly.
- They are not so worried about Micro Trading but more about the effects its having on Macro economy - China is a classic example and will come back soon
- Charity cannot sustain on its own - Ecosystems need to be build and they are guiding us on the LALA Ecosystem
- If Bangladeshi Central systems, JP Morgans etc can be hacked, then what is safe. Security and Cryptography are most important.
- There have NEVER been breaches due to poor cryptography, other gaps in the system cause these breaches
- Blockchain therefore is very exciting, truly disruptive but need to work with governments as partners
- Everyone has mobile phone - that is the only way to penetrate underbanked. Can not go on creating branches