Blockchain

Polkadot Creator Gavin Wood Says One Blockchain Use Case Crucial for Mass Adoption

The creator of interoperability blockchain Polkadot (DOT) says that one use case for the blockchains is essential for his or her mass adoption.

In a brand new interview on macro guru Raoul Pal’s podcast, Polkadot creator Gavin Wooden says that proof of personhood – or a mechanism that digitally verifies an individual’s humanity – could possibly be the killer blockchain software that triggers widespread adoption.

“What I’ve come to consider on this regard [during] the final couple of years is that blockchains have up to now solely actually mastered doing scale of worth – cash mainly. They haven’t mastered the idea of personhood, it’s one thing that we depend on in on a regular basis life for nearly every part.

You go to a store to purchase, I don’t know, a giant piece of pc tools [and] they just remember to are an individual earlier than you’ll be able to spend over $1,000. You don’t discover it, however it’s a needed aspect of contemporary society, at the least within the West.”

Wooden goes on to notice simply how prevalent proof of personhood is in Western society however warns that we must always not depend on governments to confirm who’s and isn’t an individual.

“We simply do it naturally, [we] count on to have the ability to see a face and so many transactions depend on that. A lot of our social cloth depends on [proof of personhood] that it must be a part of blockchain earlier than blockchain goes to be a giant a part of society…

The query is: how do you do it with out counting on issues like governments to let you know who’s an individual who’s not? I’m not a giant fan of the Worldcoin strategy, I feel that’s simply an excessive amount of belief within the Worldcoin equipment. I’m not a giant fan of the KYC (know-your-customer) passport strategy, I feel it’s an excessive amount of reliance on governments…

I wouldn’t, broadly talking, depend on any authorities stuff to energy blockchain and this wants to take a seat at a reasonably low stage for it to be helpful so we have to provide you with fairly much more ingenious technique of constructing personhood into blockchain.”

Generated Picture: Midjourney

See also  Polkadot Welcomes Circle's USDC

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Please enter CoinGecko Free Api Key to get this plugin works.