" And that is just the beginning ."
Why would an entrepreneur invest in blockchain ?
You describe yourself as a " crypto-enthusiast ". What is it about digital currency that is so exciting ?
A currency in itself is not exciting . What is , however , is the technology used- the blockchain . It ’ s a major innovation that will transform our lives as profoundly as the internet did . Bitcoin is only the visible part of this revolution .
A " revolution " which remains very mysterious to the public at large ...
It is not necessary for users to understand in detail the way blockchain works . In the same way that it is not necessary to understand the way a computer works to be able to use it . The important thing is to understand what blockchain permits us to do . Notably it allows us to exchange value without relying on an intermediary , and to do this instantly , transparently , unfalsifiably and at a low price . It ’ s a revolutionary change for transactions . A mathematician explained it successfully by saying that we have to imagine a big accounting book that everyone can read at no cost , that everyone can write in , but which is impossible to erase or destroy because the book is shared and decentralised .
No entrepreneur can ignore profit and efficiency . The uses of blockchain go far beyond Bitcoin and finance . All professions which need authentication , tracing and certifying procedures could potentially be affected . From the health sector to luxury goods , as well as the automobile industry and energy sector , the possibilities are infinite . We are at the dawn of a new era . In tomorrow ’ s world blockchains will be unavoidable . They are going to be at the heart of our smartphones , our businesses and our lives . Cryptocurrencies also provide many opportunities to dishonest users ... An emerging technology is bound to have its faults and cryptocurrencies are not beyond reproach . This is why it is important to regulate them . We must not idealise or demonise them . When we lump together Bitcoin and illegal transactions , it ’ s as if we were accusing all social media networks of being networks of pedophiles .
How can the region profit from the potential of blockchain ?
A legal framework is necessary . The difficulty lies in finding the right balance between protecting users against abuses and on the other hand promoting innovation and being able to benefit from promising opportunities .
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