The post Bringing blockchain to governments and enterprises, as explained by BCG’s Tibor Mérey appeared on BitcoinEthereumNews.com.

At the London Blockchain Conference this year, Tibor Mérey delivered a keynote address on enterprise blockchain adoption. CoinGeek Backstage caught up with him on the sidelines of the conference to discuss blockchain’s progress within big businesses and governments. width=”562″ height=”315″ frameborder=”0″ allowfullscreen=”allowfullscreen”> Mérey is a managing director and partner at the Boston Consulting Group (BCG), the world’s second-largest management consultancy. At BCG, he leads the firm’s Web3, IoT, and extended reality divisions. “For the longest time, blockchain has been pushed as a hammer looking for nails. Those times are over,” Mérey told CoinGeek Backstage’s Kurt Wuckert Jr. Mérey believes that for blockchain to break through in the enterprise world, developers must focus solely on the challenges they seek to solve, not the sideshows. Satoshi launched Bitcoin as peer-to-peer electronic cash to fix the broken model relying on a few intermediaries. Mérey believes that this vision is still alive today as the challenges that plagued the world in 2008 are still prevalent today. However, blockchain has emerged as an even bigger opportunity, and enterprises are warming up to Web3, he told CoinGeek Backstage. Mérey also delved into the debate on whether there will ultimately be one chain to rule them all. Today, thousands of chains exist, with most being ghost towns that process a handful of transactions. “I don’t think there will be space for 5,000 blockchains,” Mérey says. He believes that most of the chains without utility will either collapse or consolidate in the future. However, he warned against blockchain tribalism “and trying to pull each other down.” “It’s really about convincing businesses around the true value you can unlock.” Decentralization, misconceptions, and learning from Facebook Blockchain is rife with misconceptions, some pushed by people who don’t know better and others by people with agendas. Many have impeded the adoption of…

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Filed under: News - @ July 9, 2024 8:22 am