Op Ed: Why Connecting All the Blockchains Is the Final Step for Mass Adoption

By Dr. Julian Hosp

Why Connecting All the Blockchains Is the Final Step for Mass Adoption

Since the start of Bitcoin in January 2009, we have seen the introduction of a multitude of blockchains across all kinds of areas and financial markets. Today, we can count hundreds of public blockchains that amount to a total market cap of almost $100 billion, excluding many more private blockchain installations.

Last year, we saw the emergence of precious metal-backed tokens and derivatives, entirely new asset classes representing entire ecosystems and even ETF tokens to invest into other blockchain assets. One such example is Initial Coin Offerings (ICOs) or token sales that are gaining in popularity.

The World Economic Forum is even going as far to predict that 10 percent of the global GDP will be stored on the blockchain in less than 10 years. In terms of today’s global GDP that would be $7.8 trillion.

Here a challenge arises: If we, as a community, do not find a way to connect blockchains, these $7.8 trillion will be dispersed in such a way that its true value is a lot lower.

So what is the solution? It’s one that we already saw being executed in a similar way around 30 years ago.

From Intranets to Internet

Before the invention of …read more

Source: http://bitcoinmagazine.com/