Cryptocurrency and blockchain have been inching closer to the mainstream, with Mastercard
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While more people are becoming aware of Bitcoin, not everyone understands blockchain technology and what it can do, said Mark Cachia CEO of Vienna-based Scytale Ventures, which has been investing in the technology and believes in a Web 3 vision that includes a decentralized, verifiable and more secure Internet enabled by blockchain technology.
“Right now, it’s very fragmented,” Cachia said. “What does it mean to have a self-sovereign thing living on the Internet with no particular jurisdiction and no employees? Governments don’t know how to deal with it yet.
“As more useful and impactful blockchain protocols gain prominence, that will mark the turning point for public awareness,” he said. “Public awareness of blockchain protocols will mirror the protocols that power the Internet, TCP/IP.”
A set of standardized rules, TCP/IP, which stands for Transmission Control Protocol/Internet Protocol, allows computers to communicate on a network such as the Internet.
“Many people have never heard of TCP/IP, let alone understand how it works, but they use the Internet every day,” Cachia continued. “Blockchain protocols will exist and function behind the scenes, powering applications people will use every day, with the understanding that these services are made possible by blockchain.”
What interests Cachia is the intersection of two or more industries that will create something new that previously wasn’t seen as an option.“One has to do some mind-bending to try to see all the different intersections and what they mean,” he said. “There will be a few of those.”
Tech companies, such as IBM
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ESG, or environmental, social and governance considerations are a part of Scytale’s investment philosophy. Scytale’s existing fund includes Polkadot, Ocean and Energy Web Foundation, with each entity exhibiting aspects of social responsibility.
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Read More: ESG Investing In Blockchain And Cryptocurrency Decoded