Brad Garlinghouse says Blockchain is like the Big Bang

The CEO of Ripple, Brad Garlinghouse, has likened Blockchain technology the event thought to have created the universe – The Big Bang.

Speaking on a panel at the 2018 Code Conference, Garlinghouse, was alongside Kathryn Haun Board of Directors of Coinbase, and Bridget van Kralingen, Senior Vice President of IBM.

The discussion was centered around the importance of Blockchain and the future of decentralized ledger systems in various sectors.

Kathryn Haun, who was formerly part of the U.S. Department of Justice [DOJ], spoke about the regulation of cryptocurrencies in the United States.

She explained how the Securities and Exchange Commission [SEC] is still considering Blockchain technology.

Ripple’s CEO, Brad Garlinghouse says:

“Blockchain broadly is a Big Bang Moment and there are regulatory bodies trying to figure out what exactly the technology is.”

A tweet by Ripple states:

A tweet by Ripple states:

“Bitcoin may end up being the Napster of digital assets. It’s shown what’s possible. But Spotify, iTunes, Pandora engaged the system and regulators, and they ruled the day.”

Bridget discusses IBM’s “food trust” blockchain project.

One of IBM’s many Blockchain projects, “food trust” is built specifically for tracking and recalling the provenance of food.

The platform is being utilized by companies such as Walmart, Unilever, and Nestle.

Bridget adds further:

“The pain of changing out data and uploading data or reversing out of systems is mitigated using blockchain. And the reduction in terms of the actual digital cost and document cost.”