Having returned from several crypto events, from Zug to Dubai, passing through the Plan B Forum in Lugano, I brought back one thought. That's rather questionable. Is it possible to engage and empower the blockchain community while adhering to the strict rules and requirements of institutional companies such as banks and pharmaceutical companies that want to enjoy the efficiencies of distributed ledgers (coins like Bitcoin)? transparency and liquidity). But does it need to comply with industry standards and national laws? Is Bitcoin the future of blockchain? No.
Can banks keep all their data at home and leverage the potential of the chain without upsetting communities that may reside in countries that governments consider non-compliant or difficult to trade with, such as China? ?Industry Group Uses Blockchain to Prove World-Class Operations and Offer Cryptocurrency Benefits and Perks to a New Generation, Keeping Information Completely Private and Differentiating from Competitors Is it possible?
Ten years after the creation of Ethereum, the ultimate incarnation of first-generation blockchains, this dilemma remains unresolved. Would businesses and governments use Bitcoin or Ethereum even if they knew that the majority of transactions were authorized outside their jurisdiction? Blockchain has failed businesses and the majority of retail investors.
why? The ledger does not guarantee scalability, as transaction costs and finality lag behind non-chain networks like VisaNet. Not all major chains (such as Ethereum and Solana) accurately measure and actually evaluate the quality of their node owners and coin owners. They don't even consider the modularity required in a highly regulated business, let alone HIPAA or FDA certification, to name just two. The chain is still rife with bad actors, and we all know it and accept it, driving away B2B use cases and long-term institutional investors.
On the other side of the dilemma, if I'm a miner or a fan running a node, all I want is an opportunity to prove my worth and a fair reward for being a member, and I want the most benefit. The goal is to break the oligopoly of large whales. Some of the benefits provided by mechanical algorithms. If I own a token, all I need is liquidity and some predictability of price. The corporate game is always long-term, and it can only get stronger if companies get involved. A high-quality blockchain that rewards reputation and phases out bad actors will benefit both token holders and businesses.
Is there a way out? New chains are emerging, and their mechanisms provide the modularity and security businesses need to operate in highly regulated markets, while providing communities with reputational proof and higher rewards compared to standard chains. It aims to provide features such as and function as a decent community. Members can become a real source of income while breaking the community cartels of all other highly concentrated chains, including Bitcoin.
This article isn't very technical, but the dilemma of serving communities and businesses equally comes down to choice. Whether I'm the CEO of Pharma Inc. or Bank Inc. (fictitious names) or a young blockchain executive based in Nigeria who just wants to make a living with Web3, The choices should be different. It's Marketing 101. You have to cater to the needs of two different audiences and do it beautifully.
Enterprises need protection, localization, and audit protocols, while also reaching new audiences that only public chains can unlock. Node operators and token holders want fair treatment and higher incentives, not just a speculation scheme. If not, they will always remain day traders.
Technology can solve this. The story of the new generation of chains (and there are many) is one of sought-after and engineered innovations that will become the new industry standard. A choice is required. We need decentralization, privacy, and the ability to segment the chain. The world needs significant efficiency, and there is room for multiple strong players to enter.
A new chapter in the history of blockchain begins. It consists of innovation on the business side with national compliance, speed and efficiency, and innovation on the community side with higher incentives, proof of reputation and long-term plans for tokens that tangibly enrich the community. Probably. And we got engaged.
Ten years into blockchain, we blockchain people have let businesses and consumers down, but with the exception of a few individuals (let's just say it), they've gotten rich and are still It affected the top 50 chains and hijacked the media discussion. . Improvements are needed over the next 10 years. We need to serve communities and businesses equally and make chains and cryptocurrencies fair and business-friendly.
Written by Frank Pagano.
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