2016/10/26 4:37 AM
Who really understands what a blockchain is? Could you explain it to your mother? Chain CEO Adam Ludwin got down to fundamentals yesterday, as he explained his company’s intention to transform financial services by digitizing already-existing assets.
Also read: Visa Introduces Blockchain-based Solution for Payment Services
Ludwin spoke on a Tuesday afternoon panel with at the Money 20/20 Conference in Las Vegas.
Blockchains Transform Finance From the Bottom Up
Assets including U.S. dollars and Starbucks points could move on blockchains with greater efficiency and security, he said.
“A blockchain is actually a new type of database,” he said, adding that it’s a “boring” topic that only fills conference halls because it involves money and wealth. These aspects still have the power to transform financial services and thus society though, he added.
“A blockchain is like a digital network of safety deposit…