We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes!
This week, our 6 Questions go to Kim Hamilton Duffy, director of identity and standards at Centre Consortium — an open-source technology project designed to create a more inclusive global economy.
Kim is a leader in the emerging decentralized identity field and has architected successful open-source projects such as Verite, Blockcerts and the Digital Credential Consortium toolkit.
1 — Which countries are doing the most to support blockchain, and which ones will be left behind?
Rather than assessing this through the narrow lens of whether certain crypto transactions are taxed, I think about whether countries are supporting innovation in blockchain — and, more broadly, decentralized architectures — in a collaborative, responsible, sustainable way that can benefit individuals and businesses.
A repeated theme: Regulatory clarity is key for individuals and businesses to build and innovate confidently. But this must be based on nuanced, balanced approaches that pull in a range of stakeholders — technologists, regulators and privacy experts — and must be sufficiently future-proofed to accommodate emerging technology. Anti-patterns — that is, examples of approaches that are uneven, overly restrictive or reactive — include banning specific implementations or types of mining.
2 — What is the main hurdle in the way of mass adoption of blockchain technology?
It’s split among interoperability, usability and trust.
Fortunately, we’re moving beyond the discussion of which blockchain will “win,” understanding that different blockchain characteristics may be best suited to different use cases. But this underscores the importance of interoperability — and for this, open standards and protocols are key.
The other aspect is the need for improved usability and trust, which are interwoven. Despite the transparency enabled by blockchain-based…