In a new editorial today in Forbes. Schroeder classifies Bitcoin as a speculative investment which may or may not work out long-term, but lauds the merits of blockchain, which he describes as “a serious technology.”
The Resurrection of the ‘Blockchain, Not Bitcoin’ Brigade
Schroeder believes that “the real potential” for blockchain technology will emerge from the companies who decide to build on it.
Hundreds of firms who tried and failed during the ICO boom of 2017 notwithstanding, Schroeder identifies four areas that entrepreneurs should look into, as well as crucial industries for investors to get exposure in blockchain. He says:
“So why should you as an entrepreneur or investor care more about blockchain than Bitcoin? Bitcoin is still a speculation on a future crypto currency that the world may not yet adopt. Maybe in the future, maybe not. But blockchain is a serious technology that can provide a variety of solutions. Imagine you are an automotive manufacturer and you have a product quality problem. Rather than recall thousands or millions of cars, you can simply recall the cars whose part is potentially defective based on blockchain identification and tracking.”
All of Schroeder’s suggested areas for blockchain integration are well-trodden ground in the industry. He lists digital rights management, digitizing real estate, tokenizing other assets, and customer rewards programs. There are, of course, a hundred other use cases for blockchain technology. Schroeder focuses on these, apparently, because he believes they have the most potential.