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Cryptocurrency

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
Entrepreneur Staff
Correspondent, Entrepreneur Asia Pacific
2 min read

 

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.

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