The founder of the tower is believed that the block chain technology will take away Visa’s business within a few years


nnVitalik Buterin, founder of Episode Chains, said that as soon as possible next year, the APS network could pose a real threat to financial institutions such as Visa. Although the current block chain application has no substantive impact, but the financial industry in the current or short-term security measures can not immediately produce a great effect. So once the block chain to solve the core security issues, will have a large enough impact on the financial industry, thus changing the existing financial ecology.n
nTranslation: Annie_Xun
Vitalik Buterin, founder of Episode Chains, said that as soon as possible next year, the Ethernet network could pose a real threat to financial institutions such as Visa.n
At the TechCrunch Disrupt conference on Monday, with the AngelList founder Naval Ravikant’s question and answer session, Buterin said security is the biggest challenge for the block chain to enter the mainstream, and once the problem is solved, the block chain technology will ” Such as the financial institutions of the business and even alternative financial institutions.n
Although the hype around the block chain, most of the technology based on the existing application development is not enough to support its wide range of applications. But Buterin said that although he believes that next year’s financial sector will introduce a low-security level prototype, the prototype has a significant impact will take several years.n
Ethernet and other block-chain technology is generally considered to be a major change in the legal and transportation industries.n
Block chains are often referred to as smart contracts that use a de-centric computer network to send information that creates universally accessible books that can not be edited or modified. In theory, the block chain can reduce the risk of business and legitimate transactions fraud.n
Although Buterin actively believes that the etherfront alternative to the potential of Visa, he can not determine its AWS (Amazon Web Services) and other cloud computing giant impact. AWS to Netflix and other third-party sites to sell Amazon server space, Netflix in the AWS server hosting massive amounts of data.n
In order to transform the cloud technology industry, applications running on the Ethernet platform must persuade private companies to believe that the decentralized architecture is secure enough to host private or sensitive content. Buterin thinks it takes a long time.n
n”Overall, there will always be a lot of decentralized approach is not very effective application.”n

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