The topic about the implementation of blockchain technology by various industries and governments around the world has been discussed in the forum since 2017.
The current year is 2024 and I haven't seen blockchain technology being successfully implemented in any industry around the world.
Obviously there's no need for blockchain technology for the purposes you are talking about(storing info about licenses, birth certificates).
I don't think that the CBDCs will use actual blockchain technology. Maybe the youtuber James Jani was right. Maybe blockchain technology is just a "glorified spreadsheet".
The current year is 2024 and I haven't seen blockchain technology being successfully implemented in any industry around the world.
Obviously there's no need for blockchain technology for the purposes you are talking about(storing info about licenses, birth certificates).
I don't think that the CBDCs will use actual blockchain technology. Maybe the youtuber James Jani was right. Maybe blockchain technology is just a "glorified spreadsheet".
What about immutability of records? If governments want to store data without ever worrying about unexpected changes, Blockchain would be the most logical answer. Especially a chain like Bitcoin. They might as well build a L2 network on top of Bitcoin to obtain all of its security benefits. Using a layer for each application (payments, medical records, ownership, etc) would be the best approach for scaling. The possibilities are endless. It's just that governments are skeptical of this new tech. I'd give it 1-2 more decades to see what happens.
With CBDCs having their own chain, I'm certain governments will expand the use case of Blockchain far beyond finance. I'd consider ourselves early adopters of what's coming in the future. The question is: Are you ready?
