Talking about the perspective of blockchain technologies, Ricardo J. Mendez, a tech director at the company’s innovative tech branch, Samsun NEXT, shared his prediction about the consolidation of the space this year, but diminished the significance of reforming centralized infrastructures.
When asked about his opinion on what is of higher importance: blockchain or decentralization, Mendez stated that the latter is undoubtedly more important, as blockchain is merely another instrument that can contextually facilitate decentralization. However, an instrument is always less valuable than the goal itself.
With an outlook in the future, Samsung is placed in a sort of a niche of tech businesses, taking the lead over the more ideological sides of the blockchain breakthrough.
As previously reported, most of the key actors keep on viewing blockchain as a means of streamlining operations like supply chains, expenses and paperwork, but seldom point at the advantages of a decentralized system similar to the Bitcoin platform.
Speaking about digital currency, nevertheless, Mendez seemed to be eager to stress the disadvantages of the means of transactions for many currencies.
Per Mendez, you only have to have a glance on the majority of digital currencies that are entirely decentralized but are 100 percent public as well, as their anonymity only needs to be disrupted once.
P2P approach poses a requirement of broadcasting user activity to peers, therefore the latter need an additional layer of privacy, such as VPN or a mix network. That is why the industry has to find a better way to explain to customers the trade-offs of various approaches, Mendez says.