Perhaps one of the most exciting up and coming technologies of the 21st century is blockchain and cryptocurrencies. According to Brad Yasar, the founder, and CEO of Beyond Enterprizes, a strategic advising firm that specializes in the deployment of blockchain, it has the potential to truly revolutionize how we conduct so much of our business.
“As with all technology, blockchain can be used for good or bad, as some people in this space may be very opportunistic,” Yasar said. “However, with it comes so much potential for sociopolitical inclusion, financial inclusion, and creating a successful infrastructure for our future.”
For Yasar, his excitement for blockchain technology lies in the idea’s propensity to empower individuals and give them many more opportunities that were once unthinkable.
“We’ve seen with this pandemic just how destructive it can be when people do not have a financial safety net. Right now, most people do physical labor to earn money, but blockchain will present so many virtual opportunities when we switch from cash to cryptocurrency,” Yasar said.
According to Yasar, much of this opportunity lies in the tools and services that blockchain technology will provide to the average person.
“Imagine how useful having access to virtual credit lines and loans will be for emerging businesses. For individuals, especially those who have fewer resources, we can access self-governing virtual models that would normally require fees. This would be a huge development,” Yasar said.
One example of an infrastructural improvement that Yasar points to as feasible is building a blockchain for voting.
“Think about how little the technology used for voting has evolved over the last 200 years,” Yasar said. “We could build a secure platform where people could vote on their phones, simply using blockchain, which would be more effective and more secure than the way we currently vote now.”
Yasar thinks that the most critical potential lies in providing everyone with financial inclusion, especially regarding funding brand new ideas and businesses.
“The typical angel investment in a startup in the US is at least 10k, if not 25k or 50k. If you don’t have that, you really don’t have the option to get in on the ground floor of a business,” Yasar said. “Across all of Africa, the average investment is only 500 dollars, could you imagine how many people we could offer the opportunity to invest in the infrastructure of lesser developed countries?”
With the tech world just starting to scratch the surface of what blockchain has to offer, Yasar is brimming with excitement at all of the possibilities and improvements that could be possible as blockchain technology becomes more widely accepted.
Brad Yasar - Media Contact [email protected]
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