Blockchain is usually understood to be a distributed ledger which enables secure, encrypted financial transactions. A number of technical and financial specialists have depicted it as comparable to the beginning of the internet service. This is a platform or foundation for transactions, while the numerous use cases for this are comparable to applications on the web as what we know them nowadays.
However, the creator, co-founder, and Chairman of Twitter and also co-founder and CEO of Square, Jack Dorsey, recently said he believes that blockchain could be utilized to solve various problems in a wide range of different fields.
During an interview with an American technology news and media network, ‘The Verge’, Dorsey described this new technology as being the “next big unlock”, and it argues that it could have much broader applications beyond payments and stuff like that.
Dorsey told the site:
“There are so many problems we can help solve [with blockchain] that are not just related to finance, but finance is an obvious one”.
Having said that, Dorsey warned against trying to go too far in the application of the technology, and added: “Solve it by trying every single problem”.
He continued and said:
“I think we need to be more thoughtful. What are people struggling with? How does the technology help them progress or does it distract them?”
Talking specifically about Bitcoin, Dorsey revealed that he has been hearing coming from a lot of people around with regards to making an investment in these markets, showing big surprise at the degree of interest.
He concluded with the words:
“It’s not about the currency at all to these people who asked me. It’s about the investment”.