What are the pitfalls to crypto adoption?
Hey Matthew,
I am not very knowledgeable of quantum computing, but I am sharing your work for possible vetting with a friend quantum physicist. Will let you know once I hear back from him.
Best,
Matthew Bennett replied:
Presently there are a number of pitfalls ranging from reputation to reliability. The issue with blockchain is the reputation through to the massive variances with what they represent. The other issues are that alot of blockchains are used to just raise money for an idea.
The latest my team has put forward is the bio mimicry blockchain yo allow for military, finance and other uses where information encryption is relevant.
Also our system allows for complete encryption but also looks at trusted devices so there is no one way to break the encryption.
I also would like to add that the many cryptocurrencies out there can make adoption quite discouraging because of complexities of each crypto that require a highly specialized knowledge or a proper understanding of the differences between a public key, private key, recovery phrase, and a password.
Matthew Bennett replied:
Hi mate please have a look at the present algorithm and would love to hear what you think ..
Hey Matthew,
I am not very knowledgeable of quantum computing, but I am sharing your work for possible vetting with a friend quantum physicist. Will let you know once I hear back from him.
Best,
Matthew Bennett replied:
Hi Jacques,
I hope that this finds you well. Thank you for this it would be good to learn more our attempt for this was to develop something highly unique that could with stand the test of time.
The aim of this is to bring together a small group that would like to further work on this to see if it has real potential for mainstream adoption.
The technology application is as you are seen could be looked at from multiple angles as it is meant to be highly flexible.
At one stage we were proposing it as a coin on its own which could worked as a decentralised stable cryptocurrency, with a simple traditional model of investment behind it. Other places for investibles would of been within renewables and used to look at innovations within health, software designs, etc.
The simple spread was as per below:
Other benefits that QDNA was meant to help build within time through a focused approach to industry by industry embedding:
Matthew,
I tried checking with quantum physicist but he wouldn't form an opinion on your project because his employer prevents him from doing so because of IP policies.
I think your project is interesting and wished I was well versed with quantum. Good work, buddy!
Matthew Bennett replied:
Hi Jacques,
I am always looking to work with people to look at how we can always make the environment better. And i believe that this could be a real possibility in some form.
I agree with you about making the environment better. I am also looking to being involved with such projects.
Matthew Bennett replied:
Would love to talk more.