You’re super bullish about the future of blockchain. You’ve bought in to the crypto and blockchain industry. You’re all in, HODL HODL HODL. Good for you. But you’re about to lose it all unless a key issue is resolved soon—some call it ‘dispute resolution’, others ‘arbitration’, and still others ‘governance.’ But make no mistake—this is not merely a technology issue. It’s a human issue.
Let’s take EOS for example. EOS is a blockchain marketed to small businesses. Token prices will increase based on supply/demand and use. If EOS (and every other blockchain) remains the domain of tech dudes, the total number of holders and users will remain low.
EOS needs to crack the ‘small business adoption’ puzzle for its token prices to skyrocket. But small businesses aren’t going to transact unless they have transactional confidence and certainty. In fact, no one (aside from early adopter tech experimenters) transacts unless they have transactional confidence and certainty.
This all comes back to designing fair, efficient, scalable, and transparent dispute resolution architecture.
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