Asia Could Lead Next Generation of Blockchain Tech
Asia could be leading the charge in blockchain technology with new developments in the making, according to 500 Startups Partner Edith Yeung. One area in particular is in payment processing.
“Many developing countries, where just to start with they don’t even have credit cards, there’s no particular infrastructure, it’s almost easier to see sort of blockchain-enabled payments, to see in Asia, you will see more action happening in Asia more than U.S. and Europe,” said Yeung.
Ripple CEO Garlinghouse is anticipating more widespread adoption of blockchain in the next five years. However, Hutchins said the primary focus of consumers will be the results that blockchain delivers as opposed to the technology itself.
“When you send an email out today, you don’t think about the underlying technology you are using … So you can hear us talk about … what protocol, what token, what technology solutions, how many transactions per second, but eventually what’s going to happen is you are going to put something of value in, something of value will come out the other side and you are not going to care what the underlying technology is,” said Hutchins.
“And that’s when you know we’re successful,” he added.
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