Borderless Economy can Be Made Available Through Blockchain.

According to an interview with Silvio Micali a MIT (Massachusetts Institute of Technology ) professor on January 21 by Bloomberg's Daybreak Asia, a more inclusive and borderless economy can be made possible using Blockchain technology.

Silvio Micali is MIT's Ford Professor of Engineering and he says that these three features security, decentralization and scalability must be fully met for the Blockchain technology to really emphasize its superiority over the centralized system.

When it comes to security, time and again, Blockchain shows that it is more secure. The concept of a trustless system is proving to be more secure than centralized system where it can be targeted for hacking and other privacy breaches.

“Only a true decentralized system, where the power is really so spread that is going to be essentially practically impossible to attack them all and when you don’t need to trust this or that particular node, is going to bring actually the security we really need and deserve.”

The only area that must improve on Blockchain today is its scalability. Once it shows better technology on this aspect, it will enjoy better level of participation and confidence than its centralized counterpart.

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