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Blockchain Thailand Genesis 2019: DEPA – Blockchain Will Mature in Next 5-6 Years

Dr. Political Science Kornsut, Deputy Director of the Office Digital Social Workforce The Digital Economy Promotion Agency (Depa) spoke at the main Genesis stage during Blockchain Thailand Genesis 2019, sharing his insights on promotion guidelines and the importance of developing blockchain personnel. According to Dr. Kornsut, since 2015, the use of blockchain technology has grown from just creating smart contracts to being utilized in various ways across industries. Years later, Thailand is still in a trial and error period with regards to blockchain technology utilization.

After the emergence of cryptocurrencies like Ethereum, the public has gained more confidence to use blockchain in real life as they move beyond the view that blockchain can only be used to create digital money. One of the greatest selling points of blockchain technology is that it can be used to create virtual, binding contracts between multiple parties.

In less than five or six years, Dr. Kornsut believes that blockchain technology and its use will mature. There will be endless applications using blockchain worldwide. According to Google Search, blockchain is getting significantly more attention than topics such as 3D printing, Artificial Intelligence (AI) and Virtual Reality (VR). Both developers and users are keeping their eye on the slightest of changes in the blockchain and crypto industry.

Today, blockchain is ready to enter a third shift, where mass adoption of blockchain will happen. Blockchain will allow people to work under a common digital network, a common language to communicate with regardless of borders.

In the next three to give years, blockchain will have an imperative role in enforcing contracts. The world’s largest IT companies are stepping into the development of the blockchain business. Additionally, industries outside of finance and banking are beginning to apply blockchain to their processes, such as the health, energy and tourism sectors.

“Blockchain has grown immensely in 2018 at a magnitude of three times more than the previous year. More than 30% of organizations now are willing to invest in blockchain, while 30% of private companies allow blockchain personnel to work outside of the office,” he said.

You may also want to read:Blockchain Thailand Genesis: Review

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