Block.one CEO says blockhain is a revolutionary technology

On the 26th of September, Brendan Blumer, the CEO of Block.one, gave an opening speech at the Blockchain Live 2018 in London.

Brendan Blumer began his speech by stating that Blockchain Live has grown three times larger than the previous year. He stated that it was great being a part of a rapidly growing community and to see first-hand the “extraordinary” progress, people in the blockchain industry were making.

Brendan went on to say that blockchain was a new technology that welcomed everyone, with no prerequisites, and was becoming a large part of people’s lives. Brendan further stated:

“Blockchain is to data what regulation is to society. Perhaps this is why, superseding the technology itself, blockchain has become a movement — a social and economic movement — and we are all united by the common understanding that this is a revolutionary technology that offers the promise of a more transparent, efficient, and interoperable world.”

He stated that blockchain was a promise to the society that one-day large organizations will not be run by shareholders, but will truly run for the users themselves, protecting the user’s privacy and driving value back to its creators.

Speaking of the world reserve currency, the USD [US Dollar], he stated that it is printed and managed by a “Federal Reserve”. He further stated that all holders of the USD were effectively taxed by a single organization, through inflation.

However, despite the aforementioned strategy being successful, he stated that blockchain-based currencies offer a no bias advantage as they belong to nobody. In his words:

“Blockchain-based digital money offers the potential of neutral stores of value that offer no bias or advantage to any one group, and seek to usher in a new era of borderless equality-of-value for all societies and nations throughout the world.”

Furthermore, he stated that the industry was beginning to witness large organization in different sectors, like Facebook, Uber, GitHub, insurance and banking domain, and Airbnb, possibly exist without any central authority.

According to Blumer, the technology was still in its nascent stage, despite seeing an exponential growth. He went on to say that it is just impossible to fully understand at this moment the potential of the technology.

The CEO concluded by stating:

“While we move through the week and engage in healthy debate and collaborative competition, let this promise of progress keep us all reminded of the shared excitement of a better future that has brought us together in the first place; a blockchain future.”