This Chapter is about future of blockchain. We will mostly concern ourselves with technical functionality, as there is more discussion available. Finance and business also depend on these developments, although some are finance or business driven. In this Section, we concern ourselves mainly with quantum computing, with less flamboyant technical Section to follow.
In 2019, Google research unit (
As it stands, the present blockchain cryptography is the elliptic curve digital signature algorithm (ECDSA), which seems to be more easily hacked with quantum computing than other cryptographic schemes like RSA (
Another problem for blockchains concerning quantum computing, especially concerning Bitcoin, is the proof of work scheme. Quantum computing can generate a large amount of proof-of-works without considerable computing time, therefore enabling a large-scale malicious attack on the current chain of transactions. It can be noted that the same phenomena can be utilized for the advantage of electric voting systems because governments can obtain quantum computers and safeguard a blockchain system with hard-to-solve cryptographic functions.
About the future of cryptocurrencies:
Industries potentially disrupted by blockchain:
Predicting the future is difficult:
For the future research on blockchains, see e.g.: Rossi, M., Mueller-Bloch, C., Thatcher, J. B., & Beck, R. (2019). Blockchain Research in Information Systems: Current Trends and an Inclusive Future Research Agenda. Journal of the Association for Information Systems, 20(9), 14.