What challenges could we see with cryptocurrency or NFTs in the future?
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Worldwide Strategy & Portfolio, Cross Industry (Supply Chain, ESG, Engineering, Customer Experience, Intelligence Automation, ERP) in Manufacturing2 years ago
That's the issue plaguing everybody that implemented an ERP. They look at it now and say, “Why do we have all this code in here? This doesn't make sense anymore.” But I agree with you, it's the evolution of the product cycle.
Director of IT in Software2 years ago
The biggest challenge is the perverse incentives for VCs to keep funding and promoting new coins and then dump their heavily discounted stash on users.
With code validation, verification, code dependencies, SBOM, etc., it becomes important to establish how this was generated and what code was used to create it. Where is this being stored, maintained and authenticated? When you take away the centralized nature of having one trusted entity, which could be a bank or central government, you just have to trust in how it was built. Someone could tell you, “John built that using a bunch of code libraries,” but how can you verify that? If you don’t check that, then 10 years down the road, somebody could say, “I built this in and now I have the one ring to control all the NFTs. They're all mine now and I'm going to resell them on the market.” Because you would have agreed to that in your terms and conditions, which nobody ever reads.