News circulating around the cryptocurrency market and blockchain technology continues to make headlines daily. From the highs and lows of Bitcoin prices to innovative ways blockchain technology is being used to transform industries, the cryptocurrency ecosystem is seeing a clear divide between two decentralized worlds.
And while the cryptocurrency market continues to fluctuate, blockchain technology is clearly on the rise and will most likely drive digital transformation for a number of industries. This is already becoming clear as more companies and technologists are investing heavily in blockchain-based technologies.
Chief Scientist and Co-Founder of the CyberMiles Foundation Dr. Michael Yuan is the author of the upcoming book Building Blockchain Apps. From a technology perspective, Dr. Yuan believes blockchain technology has great potential. During an exclusive interview he said, "As a result of the current cryptocurrency bubble, I believe that blockchain technology will gain traction and any technical problems associated with it be resolved within 6-12 months. After that, the next major challenge is beyond software engineering, but rather the design and implementation of new economic systems. Experimentation with the economic design is something that caused major consequences in human society before (think the communism experiment). But with blockchain ecosystems, we can now all become economic system designers and let the best design win."
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