Bitcoin has come a long way since Satoshi Nakamoto launched it over a decade ago. It has transformed several sectors, especially finance, which has been an incredible fete. For Aleksandar Kuzmanovic, the fact that Satoshi was able to bring to reality a concept that most academics would have dismissed as impossible is already an achievement by itself. Kuzmanovic was at the recent BSV China Conference where he shared his thoughts with CoinGeek’s Stephanie Towers.
Kuzmanovic is a professor at the Northwestern University, a private research university based in Illinois. And from his academic point of view, he believes that Satoshi pulled off a great fete with the Bitcoin whitepaper. He stated:
I was in a panel and I said that the original Bitcoin whitepaper would never have been published in academia because we are very picky and we like to say that things are never going to work. So, the biggest success for blockchain is that a thing that nobody ever believed could be possible is actually possible.
Kuzmanovic is also the founder of Bloxroute, a startup that works on scaling solutions for all blockchains. The startup offers a blockchain distribution network that utilizes a global network of servers for optimal performance. Having worked on scaling with his startup, he views on-chain scaling as the factor that will make or break the rise of blockchain technology.
“I definitely belong to this group of people who believe that on-chain scaling is the key to the success of all blockchains,” he stated. “Often times people go into these technological discussions, but this is an economic argument, which means that once there is on-chain scaling, the cost of transactions is going to go down. This is when the applications are going to come to the blockchain and this is when it’s going to make a real impact.”
For blockchain to maximize its potential, it’s crucial for learning institutions to instill skills in the technology, a sector Kuzmanovic believes is coming up quite well. Most top institutions now have blockchain courses as more young minds get drawn to the technology. At Northwestern University, students are always coming up to him seeking to learn more about blockchain, he revealed. This, he believes, will create a future where most of the people working in huge companies will have extensive knowledge of the technology and will utilize it in their operations.
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.