Explained: How Blockchain Will Impact Our Life in 10 Years
CEO of United Capital, Joe Duran, said Blockchain will be the underlying technology of cryptocurrencies, will be seen almost every transaction in the world during the next ten years.
Duran said, Blockchain technology could reduce the cost of the financial transactions and give a better control to governments who want to track how their money is being used. According to recent survey, 8 out of 10 executives said their companies are working very actively with Blockchain based products.
Duran said Blockchain will be probably the main catalyst of how we are going to invest in the next 10 years as he expects a tremendous growth for the usage of this technology. He said:
“Blockchain itself is going to be part of every transaction that occurs in the world,” he said. “It’s going to take a decade before it’s there.”
Duran said he thinks the digital currencies will be future of money without a doubt and said governments will also look at this technology track how their money is being used in the future.
“There will be a U.S. dollar crypto; there will be a Chinese yuan crypto. It will just be exactly what we know today, but in a digital version that gives governments the ability to oversee where the money is going. Goverments will also want to use it for a way to track their currencies and get their taxes straightaway. It’s without a doubt.”
Duran said he doesn’t expect digital currencies will become a regular part of people’s portfolio but instead, he expects Blockchain to grow tremendously. He added:
”With blockchain you can put in code that won’t allow the money to transfer unless there is an exchange of goods and services that’s approved on both sides. There is no doubt in my mind that 10 years from now, Blockchain will be as big as the internet is in our lives.”
The CEO and the founder of United Capital finished his words by saying:
“It’s unimaginable just how broad the impact is going to be to our lives, but there is no doubt in my mind that 10 years from now, blockchain will be as big as the internet is in our lives.”