These company CEOs all believe that adoption of blockchain can only happen if the user doesn't realize they are using it.Getty
A few weeks ago, I had the pleasure to attend the Token2049 conference in Hong Kong. I was there to take a look at how some of our European centric fintech firms were expanding, but as I’ve reflected on some of my interviews from the conference, I’ve found there to be one over-arching theme.
That blockchain needs to become invisible.
This appears to be a top-down viewpoint where user experience and adoption is now becoming more important than an understanding of the technology. In short, the CEOs of this new financial technology do not want users to know about blockchain, they just want them to go about their business while using it.
From the card in your wallet to the supply chain in your supermarket or high street store, there is a strong use case for businesses and individuals to adopt the new technology. But for Ambrosus Chief Product Officer Vlad Trifa, you only need one link in the supply chain to reap the benefits.
The European company supplies sensors that accompany goods on the supply chain that will verify, alongside an entry into the blockchain, that the goods are exactly the ones promised. With many companies now stuck in a race to the bottom when it comes to smaller margins, Trifa believes the verification layer is actually worth a higher price, and that people will pay more to know that their vanilla is genuinely from Madagascar or that their Scottish whiskey is from a small batch. By adding sensors to the shipment, Trifa has collided the real world with the digital world, and believes that the value of integrity will be something that the whole supply chain can benefit from.
He said, “The world has evolved, but somehow the supply chain is still analogue and there is a lot of fraud. By recording data you can add an extra layer of security, but ...