Shervin Pishevar made strong statements about monopolies and innovation. Their influence on new technologies has already catastrophically affected the economy. These impacts posed Washington D.C. with questions about inflation that they are not ready to answer. Old solutions that have been solved by equity markets being carried by bonds are no longer viable. However, there is a solution developing. The people should know that it is not occurring on Capitol Hill. It is a technology-centric innovation that has been sorely needed.
Cryptographic technology is finally becoming a viable and foundational part of digital transactions. This all started with the original blockchain, Bitcoin, about a decade ago. A few years ago there was excitement because smart contracts were facilitated by the Ethereum blockchain. At the end of 2017, a major Bitcoin fork made the world acknowledge the potential of blockchains. Today, much of the public’s excitement has subsided, but the kind of innovation that was emphasized by Shervin Pishevar is as rampant as ever in this space.
Blockchains support small business. This is another important aspect brought to the masses attention by Shervin Pishevar. Smart contracts have made it much easier for small enterprises to enter the cryptocurrency market. They bring unique ideas and solutions to important modern day issues. Small businesses foster varied viewpoints toward innovation. They develop solutions specific to industries. This has the potential for solving a lot of the world’s problems. It also makes regional and local issues more reachable.
Increased precision toward solving modern day problems positively impacts the global economy. Instead of consumers adjusting their lives to what is made available, more practical options become possible. Solutions become catered to fit needs. Part of the reason that this is possible is that blockchains enable consumers to better voice their opinions.
Blockchains have been touted as a tool that is destined to improve everyday life for all people who use technology around the world. Comments made by Shervin Pishevar at the beginning of 2018 support the revolution that blockchains are bringing. The impact is not just in financial markets. They affect all digital transactions.