Vitalik Buterin: In A Few Years Ethereum Will Be Able To Surpass Visa
Technology Ethereum can challenge to such large financial institutions as Visa. This opinion Vitalik Buterin expressed during the session "Questions and Answers" TechCrunch Disrupt with the founder of AngelList Naval Ravinkat.
According to Buterin, the main issue standing in the way of mass adoption of the blockchain, are security issues. And once they would solved, the technology can not only occupy a significant market share and oust the giants of the payment industry.
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Ethereum co-founder expects that next year will present prototypes of solutions that provide a maximum threshold of security. In order, technology really could be a serious competitor to traditional financial instruments, will take another few years.
At the same time, Vitalik Buterin cautiously spoke about the prospects of Ethereum from the point of view of influence on cloud services like Amazon Web Services (AWS). According to him, in order to really transform this sector, the creators of Ethereum-based applications should convince the companies that their decentralized structure has sufficient security to store confidential data.
In general, there will always be a large number of applications where a decentralized approach will not work too well, Buterin said.
Earlier in September, Vitalik Buterin said there were certain risks in that interest in the blockbuster was growing too fast, because the technology itself is not yet ready to accept all this interest.