Blockchain has eight barriers to overcome in order to become a core, mainstream financial services technology, according to Credit Suisse. Blockchain, because it's a network, only makes sense with a certain critical mass. The first barrier is the scalability of blockchain. This security feature may not be in place on blockchains with lower numbers of participants. Despite these challenges, the blockchain is a potentially disruptive technology that ought to be embraced.
Blockchain has eight barriers to overcome in order to become a core, mainstream financial services technology, according to Credit Suisse. Blockchain, because it's a network, only makes sense with a certain critical mass. This point has ramifications for the security of the platform too; Bitcoin's blockchain is as secure as it is due to the number of actors on the network who sign off on every transaction and, in doing so, maintain a rigorous inspection of the network's safety. This security feature may not be in place on blockchains with lower numbers of participants. Despite these challenges, the blockchain is a potentially disruptive technology that ought to be embraced.