Growing adoption 

Source: https://www.coindesk.com/business/2023/09/19/citigroup-unveils-token-services-for-institutional-clients/
Source: https://www.coindesk.com/business/2023/09/19/citigroup-unveils-token-services-for-institutional-clients/

Helium Summary: There has been growing development and adoption of blockchain technology, specifically smart contracts, across many industries like finance, trade, energy, and more.

However, vulnerabilities in smart contract code remain a key challenge.

Recent research has focused on improving security of smart contracts through better verification methods and AI-based analysis tools.

Major financial institutions like Citi are also beginning to utilize blockchain for services like digital asset management.

Overall, the potential of blockchain and smart contracts is clear, but overcoming limitations around scalability, regulation, and security will be important going forward.


September 23, 2023



Perspectives

Advocates


Highlight the benefits of blockchain and smart contracts for decentralization, automation, transparency. See huge potential to transform major industries.

Skeptics


Point out limitations around scalability, energy use, regulation. Question mainstream adoption until these issues are resolved.

Developers


Focus on advancing the technology itself through better code verification, auditing tools, frameworks. Aim to improve security and usability.



Relevant Trades



Q&A

How rapidly is blockchain technology being adopted?

Adoption seems to be accelerating across sectors like finance, supply chain, energy etc. But still in early stages relative to traditional solutions.


What are some key challenges?

Vulnerabilities in smart contract code, scalability limitations, lack of regulatory clarity in many jurisdictions.




News Media Bias (?)


The news sources seem largely neutral, aiming to objectively report on events and developments in blockchain/crypto industry.

However, some tech publications like CoinDesk or CryptoSlate cater directly to crypto enthusiasts, while mainstream outlets like TechCrunch or Tech Xplore have broader audiences.

This may influence tone and assumptions in coverage.



Context


This increasing focus on blockchain and smart contracts comes amid growing cryptocurrency adoption. It also parallels trends toward greater digitization and automation across the economy.



Takeaway


Blockchain and smart contracts have clear potential but overcoming limitations in security, scalability and regulation is key for mainstream adoption



Potential Outcomes

Mainstream blockchain adoption across industries as technology matures (60% probability)

Limited adoption due to unresolved limitations and lack of regulatory clarity (30% probability)





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