Ray Valdes (CTO- ConsenSys) and Kate Mitselmakher (CEO – Bloccelerate VC) have given up their jobs at the well-known technology research company Gartner to join the blockchain movement. The two are no strangers to the blockchain world but experts and don’t just talk about anything therefore. In their opinion, we are still in the beginning and they give 5 predictions of how blockchain technology will shape the world by 2030.
Prediction 1: By 2030, most governments around the world will create or adopt virtual currencies. The state currency of the future will inevitably become a cryptocurrency. Compared to the traditional Fiat alternative, cryptocurrency is more efficient, offers shorter billing times and offers increased traceability.
Prediction 2: By 2030, among the four highest-rated companies in the world (based on stock market valuation), there will be a race over which will be the first $1 trillion in value. By using blockchain technology and their value of tokens, then in the running are Apple, Amazon, Alphabet (Google) and Microsoft.
Prediction 3: By 2030, identity systems as we know them today will be replaced by blockchain-based identity systems. These systems provide a single source for verifying people’s identities and assets.
Prediction 4: By 2030, most of the world’s world trade will be run using blockchain technology. One of the most promising areas is the global supply chain. In its current state, global trade is conducted over a chaotic, fragmented business relationship between parties that are untrustworthy.
Prediction 5: By 2030, significant improvements in the world’s living standards will be due to the development of blockchain technology. Poverty and income discrepancy are arguably the most difficult problems for humanity. More than 10 of the world’s population, more than 750 million people, live on less than $2 a day. Although overall living standards are rising and global GDP is rising, the rich are getting richer and the poor are getting poorer.
At Wharton School, more and more students are taking courses that deal with bitcoin and blockchain.
At other top universities, students are also eager to attend courses that focus on the decentralized technology of blockchain, which underpins cryptocurrencies such as Bitcoin. According to a new survey of 675 students from the United States of America by Cryptocurrency Exchange Coinbase and Qriously, 9 of the students have already attended courses in this context and 26 still want to do so.
One reason for the increased interest in blockchain prices
are probably the very good job prospects in the near future. A very high percentage of leading companies now have blockchain or distributed ledger projects and are looking for expertise in this area. In fact, job ads for bitcoin on LinkedIn have increased nine-fold in the financial services industry and four-fold in the software technology industry over the past three years (compared to the total job ads on LinkedIn). There are about 2770 vacancies related to “blockchain” on the career site Glassdoor. Even at Stepstone’s job search engine, 132 jobs are listed if you enter “blockchain”, there will be more weekly.
For the industry, the possible applications are numerous,
from supply chain tracking to electricity suppliers. According to PwC’s Global Blockchain Survey 2018, 84 of the companies are very active in the topic of blockchain. Soon, more and more blockchain courses will probably be offered in schools and universities in Germany as well. Even if there are only a few cryptocurrencies will survive the blockchain does this definitely!
The ZF Friedrichhaven AG has developed a new payment system for electric vehicles in cooperation with UBS.
The Blockchain Car eWallet payment system is designed to simplify “on-the-go loading” and offer many other benefits. Such as paying a toll in passing. Using a special app, the Car eWallet is authorized to make payments up to a certain limit independently.
Separate registration is no longer required for the use of the individual charging station in the system. Once connected to the charging station, the vehicle batteries are charged and the fees are automatically paid via the Car eWallet. This approach should also enable inductive charging – for example, during a red light phase at traffic lights or at a zebra strip. Thanks to its micropayment function, The Car eWallet is able to offset even the smallest payment amounts.
Like a real wallet, the digital wallet can also receive payments. It is also planned to unlock access to the vehicle for third parties. This would allow cars to be made available with Car eWallet car-sharing portals and to accept fees from tenants on a temporary basis. A defined authentication code on a package could be scanned and the trunk opens automatically. This enables deliveries directly to the vehicle while protecting against unauthorized persons.
All activities for the development and marketing of Car eWallet
are spun off from the ZF Group and transferred to the start-up company Car eWallet GmbH. Zf will provide this with seed capital in the first financing phase, and the start-up will promote follow-up financing to external investors. The newly founded start-up benefits from the experience gained from the temporary cooperation between ZF and its previous project partners, the technology company IBM and the global bank UBS.
Mertens calls blockchain technology a “revolution of honesty.” One of the most important pioneers in the development of central (trust centres) and decentralized (web of trust) authentication systems. During his studies, he studied PKI-based encryption solutions. In his thesis, he developed a concept for identity management for blockchain technology. In the mid-1990s, in addition to studying with Wei Dai, he worked on decentralized solutions for money. Mr. Dai holds a Bachelor of Science degree from the University of Washington in Computer Science with a minor in mathematics. In 1998, he published the b-money-paper famous in the scene. To this day, it is considered the basis for the crypto-currency Bitcoin.
Mertens wants people to regain sovereignty over their data.
In his opinion, the dishonest are at an advantage at the moment, but the blockchain is turning this system around. A “blockchain,” that is, a chain of blocks, can be easily imagined as a series of information blocks that are decentralized and cryptographically encrypted on thousands of computers. So the information lies in encrypted form with all members of the network and not on a central server. If a member changes the file on his computer, it remains encrypted on all others in the original. This decentralized storage is designed to prevent tampering safely. Mertens specializes in solutions for the automotive, pharmaceutical and logistics industries.
Automatic link with smart contracts
In 2014, he founded his current company CryptoTec AG Which also combines their blockchain solutions with GSM-enabled sensors to monitor the transport of products in real time. This means that the customer receives a status report on the temperature, humidity and location of his ordered goods without delay. By integrating the data sent by the sensors into the blockchain, they cannot be manipulated retrospectively. In addition, it is possible to automatically link to smart contracts in order to verify compliance with contracts in an easy way. It also makes it more difficult for counterfeiters to insert plagiarism into the supply chain.
Mertens is a recognized expert in cryptography, blockchain, agile development and usability. He advises companies in the healthcare sector and regularly lectures at conferences and universities.
What is actually the case for mining cryptocurrencies bits and bytes. Is this not total nonsense to run a processor or a graphics card for 24/7 hours non stop. A lot of electrical energy is consumed, which of course also has to be generated first. In the meantime, however, about 70 of the electricity needed for mining is produced from renewable energies and additional incentives are created for the manufacturers of CPU and graphics cards to make them more efficient.
Germany produces more electricity than it needs!
Did you actually know that Germany is produced more electricity from renewable energies than is needed. It is even so that this energy is often deceived abroad or our neighbours even get money for it if they take off the excess German electricity. And this is not an easy assertion from me, but this has even been published in Focus.
In 2017, the ECB printed 40 billion euros every month!
Why, then, is this point raised again and again and, above all, by whom? Who could it not suit if we ordinary citizens were able to monitor and control our own financial transactions. This is possible due to the blockchain. You wouldn’t need third parties (banks) to transfer the money from A to B. If we take the Bitcoin which is limited in number, it can never lose value like our oh such great Fiat Money. In 2017 alone, the ECB printed 40 billion euros each month, driving the devaluation of money. Our money will be less and less valuable and therefore, unfortunately, your savings.
In Germany, you do not currently make a profit as a private individual unless you have a solar system on the roof and thus produce your free electricity. But this does not mean that it has to stay that way in the future, because if the courses go up, the mining is worth it again. So Yes! It is morally justifiable as long as we have a surplus of electricity in Germany and you produce or buy the electricity from renewable energy yourself.