During a recent interview with Entrepreneur, Sagewise CEO Amy shared her take on the adoption of Blockchain. She claims that the company has to make this nascent technology as approachable as possible.
Tackling the confidence problem
Wan claims that she got acquainted with the crypto industry for the first time when she started learning to code in 2012. One of her tasks was to create a website where you would be able to exchange Bitcoin (BTC). After that, she left her job and started diving deeper into the cryptocurrency space. She claims that this time had a lot of similarities to the dot-com bubble during the mid-90s when people would buy things online with extreme caution. Blockchain was facing the “transactional confidence problem, ” as she puts it.
Then she launched her company Sagewise that has recently introduced its Blockchain-powered software. It has an advantage over ordinarily signature apps because of its decentralized authentication.
What you don't know won't hurt you
When asked about the current problems of Blockchain implementation, Wan claims that the technology has to become more approachable for the general public. She claims that no one says he or she is using PCP IP when they surf the web.
Sagewise CEO believes that it is not necessary to understand Blockchain technology in order to use. If they want mainstream adoption, they have to target 98 percent who are not tech savvy enough to understand what a distributed ledger is.
Use Blockchain when it’s appropriate
Wan claims that there are plenty of examples when already existing companies are jumping on the Blockchain train just because it’s become trendy. There is no need to utilize the distributed ledger technology when the existing mechanism works perfectly fine. In fact, it could even increase the amount of expenses and security vulnerabilities given how complex Blockchain actually is. She also believes that Blockchain could revolutionize the way we live today with a slew of innovations, including alternative legal systems.