Question asked 2 years ago
Will Blockchain See Wide-scale Commercial & Government Adoption?

Blockchain technology is not yet fully ripe for mass adoption but is a few steps away from becoming a widely used network. In short, we will describe a few challenges that are currently latent:

Massive recognition that blockchain can be a source of immutable certainty

The legal operation of this characteristic is still missing, therefore it cannot be used as a legal argument. New legal schemes are required for the recognition of blockchain as a source of immutable veracity since it is tamper-proof and for this it will be necessary to reach a consensus for regulation in collaboration with the users.

The dilemma of the right to oblivion

The immutability of the blockchain conflicts with the right to forget, which refers to the protection of personal data that ensures that any citizen has the right to have information stored in records or databases completely deleted.

Although it could be automatically encrypted with a smart contract or create blockchain of permissions to access information more flexibly.

The technology (bitcoin) is not yet ready for mass use.

A clear example of this is that it is distributed in a non-uniform way, and even if it were the speed of the system would not support all users. In short, there are a number of technical and security issues that need to be resolved in order for it to work on a large scale. Fortunately, there are many Altcoins that have already solved this problem.

The energy consumed is not sustainable

Many blockchain work with PoW and that consumes a lot of energy, which does not allow it to be sustainable on a large scale as it is today (The same problem of BigData). But they are already working on solutions of much lower consumption such as virtual mines PoS or consensus test, voting etc, etc..

The struggle against parts of the government

There is no clear and fair regulatory framework, no well-defined debate, no legal scalability strategy, etc. But we are sure that the government does not like this technology because it is a point in which there is no control, as we have seen with Venezuela and China.