TOKEN2049 - Building the Fabric for the Decentralised World - Paul Kittiwongsunthorn (TenX)
In his insightful presentation at TOKEN2049, Paul Kittiwongsunthorn of TenX explores the future of blockchain and the construction of a decentralized world. He highlights the profound potential of blockchain technology in transforming the global economy, referencing predictions that blockchain could comprise 10% of global GDP within a decade. As of 2019, the journey to this digital future has begun, with blockchain's exponential growth marking significant strides toward this vision.
Paul stresses the importance of developing practical applications that connect blockchain technology with real-world use cases. This involves bridging blockchain with fiat currencies, enabling seamless digital transactions in everyday settings, exemplified by the growing use of stablecoins and platforms facilitating cryptocurrency spending in conventional retail environments.
He further discusses the necessity of making blockchain technology user-friendly, arguing for the simplification of complex processes such as private key management. By aligning blockchain interactions with familiar paradigms, the technology can achieve broader adoption.
Moreover, Paul envisions an interconnected blockchain ecosystem, akin to the early internet's protocol layers, such as TCP/IP, uniting disparate blockchains. Projects like Comet aim to forge these connections, emphasizing open access and interoperability without establishing new blockchains.
Paul concludes by urging continued innovation and construction in the blockchain space, transforming digital assets from abstract concepts into tangible tools for economic growth. He sees this ongoing evolution as a pivotal step toward a future where digital currency is ubiquitously accepted.
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