Britain’s Prince Charles Says Blockchain is “Very interesting development”
Blockchain may not be a very popular idea right now, but it is winning the hearts of people in places no one would have imagined. Prince Charles recently said blockchain is an interesting development when he was asked what he thought of the technology.
Don’t @ me for saying bitcoinSsssss pic.twitter.com/wSvOkN0cuE
— CD ? (@coindorado) May 7, 2019
Misha Lederman, Co-Founder of IAmDecentralized.org says this means there is a bright future for the technology as the British royal family is one of the most conservative institutions, which means there is something good about blockchain even though it is not very popular.
Most mainstream stakeholders have often spoken against cryptocurrencies but most have said blockchain has great potential for use in many ways. The prince also did not speak positively about Bitcoin or other cryptocurrencies as should be expected.
As a matter of fact, blockchain has found applications in different industries in the world. Most of the applications, however, require digital tokens to operate. For instance, the Ripple blockchain payment platform just facilitates payments and funds transfers around the world. Ripple’s native token XRP is however used to provide liquidity to enable the transfer of value.
The technology is also being explored for the possibility of use in medicine, supply chain management, agriculture, clean energy and so on. This opens the door to countless opportunities for blockchain that will eventually make it the main technology in every sector of the global economy.
It has just been reported that American top coffee merchant Starbucks has adopted Microsoft’s blockchain to track their coffee. This is meant to give consumers more information about the coffee production process from harvest in the farm to the actual consumption of the coffee. This is one application that encourages transparency.
Already, the technology is used to track cryptocurrency transactions by keeping a record of every transaction on a public ledger, thus making it easy to track transactions. It may then also be applied in traditional fiat transactions to ensure criminals are tracked and every form of suspicious transactions can be clearly traceable.
With the several potential application of blockchain, the technology will hopefully become globally accepted even among those who don’t accept cryptocurrencies as cryptocurrency is just one area of application.