Blockchain technology is leading the global technological innovation arena right now. More and more developments are being made each day to refine it as much as possible. Features like immutability, transparency, decentralization etc. make it stand out among the rest.
Recently, BlockPublisher got in touch with the Chief Executive Officer of APIS, Ronny Yoo. APIS is essentially a platform aimed at familiarizing the general crypto users with the usage of masternodes so that maximum benefits can be reaped out by them. Talking to BlockPublisher, Ronny shared his opinions regarding the blockchain technology overall.
We need to first think of a future the Blockchain would bring to us. This current tide of Blockchain is often compared to the Internet. If the Internet is the first gift to bring digitalization to mankind, the blockchain will be the second gift to turn humanity into digital.
Ronny largely praised the technology terming it as the second gift to humanity after the internet. This clearly hints at the magnitude of the prospects that are offered by this nascent technology. The internet has incorporated itself into almost every sector of the modern day life. Now, as implied by Ronny, blockchain can prove itself to be a technology of the same scale as the internet.
Adding on to his statements, Ronny stated:
The Internet has brought many innovations throughout society. Now it is easier to produce and distribute information on the Internet thanks to the acceleration of globalization, individual producers, information identification, and the distribution of centralized power, large institutions have become less powerful and individuals has gained more power. In the past, public opinion was created by big media outlets but now that we’ve got internet, it is being created and distributed by communities, a collection of individuals. Decentralization is the key of Blockchain. And with decentralization, dispersion and reliability can be brought into being.
Ronny further praised the internet and pointed out that decentralization is the key for blockchain. Decentralization is something that makes blockchain more worthy. The removal of a central controlling party from a framework is a game-changing prospect. Owing to this features, various industries across the globe can be completely revamped. Governmental procedures, elections, delivery systems, tracking systems, content-creation etc. can all be made better if this technology is used properly.
But as of now, there are still a lot of limitations that hold this technology back from large-scale adoption. As soon as the issues such as scalability are resolved, blockchain can prove itself to be truly revolutionary for the world.