Blockchain is the Next Gen of Computers After Web, says Crypto Pioneer

David Chaum talks about the future of cryptocurrency, during an in-flight interview

By
You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

Known for his incredible cypherpunk movement, the crypto pioneer David Chaum is back in action after a long break to solve one of the biggest shortcomings of blockchain technology i.e. speed, with his platform Elixxir. The app can process thousands of transactions in seconds and cuts down on the energy required to maintain the network.

Chaum has been a strong advocate of digital currency even before bitcoin was introduced in the world. The American scientist and entrepreneur have a strong belief in blockchain technology as according to him, "Blockchain is the next generation of computers after the Web."

We caught up with him while he was travelling to Europe to promote his blockchain-based platform Elixxir.

In an exclusive conversation with us, Chaum says, "Blockchain doesn't have the level of privacy that consumers minimally expect… It doesn't have the kind of transaction speed that consumers expect… it is not a kind of app that consumers are used to using…it doesn't have the kind of nascent stage proof level of security that's actually needed…" So what is its future? Here's what the godfather of cryptocurrency had to give us in reply.

"Blockchain is a way for secured data to be stored, communicated and transacted online without the need for any centralized entity," says Chaum.

"Until now blockchain technology has been incapable of scaling but now the perception has been changed," explains Chaum.

Watch the full video to know more on this.

Latest

2020 in Photos: A New Book Captured the Year that Changed Everything

Christina Hawatmeh, the CEO and founder of Scopio, a community-based image marketplace, talks about her new book, 'The Year Time Stopped: The Global Pandemic in Photos' with Entrepreneur's Jessica Abo.

Geoff Alexander of Wow Bao on Branding Dark Kitchens

Interview with Geoff Alexander, CEO and President of Wow Bao, about improving your online brand presence, digital ordering innovations, and letting go in order to grow.

3 Ways Your Brain Reacts to Uncertainty

Here's Ben Angel's three-step plan to control your emotions and achieve your goals.

How a Throwaway Joke Became an Award-Winning Ad Campaign

In our 'Creative Conversations in Advertising' series, Creative Director at Goodby Silverstein & Partners Tristan Graham and Entrepreneur magazine Editor in Chief Jason Feifer discuss the birth of a very funny (and impactful) commercial.

How This Amazing Campaign Succeeded in Changing a Brand's Perception and People's Lives at the Same Time

In our series 'Anatomy of an Ad,' Group Creative Director Tony Jones gives the heartwarming story of how Operation Santa finally took off.

How this Tech Entrepreneur, Biohacker, and Author is Helping Women with Their Periods

The founder and CEO of Flo Living on the future of biohacking and hormonal healthcare.

Duce Raymond of Sweet Baby Ray's BBQ on Using Social Media Like a Boss

Interview with Sweet Baby Ray's BBQ Catering Culinary Director Duce Raymond about his fresh approach to social media content marketing and huge results with short video for the already world-famous brand.

The Key to Effectively Communicating Important Messages Is All About Simplicity

In our 'Creative Conversations in Advertising' series, award-winning Group Creative Director Giancarlo Rodas and Entrepreneur magazine Editor in Chief Jason Feifer discuss distilling complex ideas down to a simple message.

How to Deliver a Serious Message Through Humor

In our series 'Anatomy of an Ad,' Creative Director David Stevanov explains how humor can be a storyteller's most effective tool.

This Successful Shark Tank Entrepreneur Shares His Latest Innovation

The Founder of Ooonimals, Club 44, and the OOO Studio Lab talks about his current projects and what you need to know about the risks and rewards that exist in the NFT space.

Brendan Sweeney of Popmenu on How Ego is the Root of All Evil

Interview with Popmenu CEO Brendan Sweeney about building a positive user experience, the state of restaurant technology, and the importance of providing answers.

Recession-Proof Your Mindset with Neuroscience

With top economists fearing a recession, award-winning author Ben Angel teaches how to recession-proof your mindset with neuroscience to manage stress levels.

How to Find Your "Oxygen Points" to Sustain and Grow Your Business, According to an Investment CEO

Entrepreneur Network Partner Ashley Crouch sits down with the CEO of Al Zarooni Emirates Investments, Dr. Adil Alzarooni.

How to Get Investment Funding for Your Business

Entrepreneur magazine's Editor-in-Chief Jason Feifer and Narya Partner Falon Donohue have a lively and informative conversation about securing the funding you need to launch your dream.

Discover Entrepreneur Series

Whether you need advice on how to get your business off the ground or you’re just looking for inspiration, our video series have something for everyone. Browse our library below to find a series that speaks to you and your interests.