Daniel Larimer, EOS CTO, drew the attention of the public after making some intriguing observations on blockchain technology during an interview. He also indicated that the adoption of Bitcoin is very philosophical.
Daniel Larimer was present in London at the Blockchain Live event. Through his speech, Larimer shared his vision on the future of the blockchain ecosystem. The CTO also pointed out that the majority of businesses will be based on the blockchain in the future.
EOS Chief Technology Officer claimed:
“To get from where we are today to there is a matter of getting the existing businesses and existing proven business models to upgrade their software to use blockchain give users greater security….Banks lose hundreds of billions of dollars every year to fraud, either from inside or outside. The biggest use cases are actually coming from the businesses which have these huge liabilities adopting the blockchain… Then their customers are going to benefit from it automatically and transparently.”
Daniel Larimer revealed that the blockchain sector has yet a lot of work to become truly user-friendly.
“The other big use case is eliminating the need for constantly changing your password – or complex passwords – because that actually makes things harder for users. When people start making things easier, when blockchain actually makes people’s lives easier and more secure, that’s when it’ll get widespread adoption.”
The boarding member indicated in his speech that the ones to embrace the first blockchain will be led by a mental belief in this tech. Even so, a technology must prove its position before being adopted by a higher number of users. Larimer continued stating that:
“So far, the early adoption of Bitcoin and cryptocurrencies is very philosophical. It’s inherently limited to people who actually believe in the cause. That’s true with all early adoption. It’s true with electric cars. It’s true with blockchain.”