Blockchain in the Economy and Industry 4.0
Blockchain has a cross-cutting impact on industry
Bitcoin, much more than virtual money
Consider two important considerations regarding Bitcoin and digital currencies:
- The real potential of new blockchain-based currencies is not that they facilitate transactions or facilitate access to credits or financial products, their true potential lies in their ability to make data the true new universal currency. There are still many areas to ensure that we are in a position to change the “Gold Standard” to the “Data Standard”: legal, normative, political, social, cultural and even philosophical aspects. There’s a long way to go.
- The digital currency as an instrument for Digital Citizenship. The new digital currencies are essentially “decentralized”, not linked to the financial system like traditional currencies. New currencies with new features that make it possible to secure digital identity regardless of classical regulatory bodies, open the way to digital citizenship detached from the territory. That is, a person in Uganda, Spain, Canada, New Zealand, Andorra, Chile or Singapore is eligible for digital citizenship in Estonia (not an example, it is actually so) through a not too complex process in which the digital currency plays a major role.
When we talk about the impact of blockchain, rather than talking about sectors it affects it is interesting to consider which areas whose development can improve and the areas whose barriers to expansion can help to reduce.