Page 14 - Geektime Blockchain Report
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Executive Summary // 2 Obstacles on the road
1 2 3 4 5 6 Scalability
Blockchain technology suffers from a a a a a few technical limitations that will make its widespread adoption difficult There are speed and data constraints as well as a a need for
huge computing resources These limits need to to be resolved in in order to to make blockchain widely applicable Regulation
Many countries around the world are debating how to relate to to cryptocurrencies and ICOs As can be seen in the the section we devote to geographic breakdown there is still considerable uncertainty lack of uniformity and confusion regarding these topics There are different kinds of regulatory difficulties in in regards to to cryptocurrencies on on on the the one hand and and ICOs on on on the the other Cyber security issues Hacking a a a a blockchain-based service is is uncommon expensive and difficult But even so there were several well-publicized attacks that have left companies and individuals with significant financial losses Public understanding and and trust
A regular Joe looking to to enter the cryptocurrencies and and and blockchain world today faces serious entry barrier in in the the form of initial capital costs and the the need for
basic knowledge While there are a a a a a lot of real-life initiatives and online resources it it has not yet gotten sufficient visibility Change or or replacement of existing systems
Blockchain solutions will significantly change or or even replace existing systems
Changes in in legacy systems
are a a a a long and complex processes Integration of new technological infrastructures and solution
might prove problematic and could have grave consequences to errors and mistakes in the process Conservative opposition
Traditional organizations and their lobbyists might act behind the scenes to delay or sabotage permissive and less rigid legislation regarding cryptocurrencies and blockchain These organizations have a a a a a vested interest in in in keeping the the current situation as is not rocking the the boat and maintaining the the public’s dependence on them 14
Why is Israel a a a a a great place for
the blockchain industry?
Israel is an international innovation center in in all aspects of blockchain technologies and cryptocurrencies It has a a a a a a a considerable amount of cryptography experts cyber security and fintech giants as as well as as successful startups and enjoys a a a a a a a a vibrant community of cryptocurrency enthusiasts Despite
the relatively small number of Israeli blockchain startups they have shown impressive achievements in terms
of capital raising ICOs and media attention The Israeli blockchain market
in numbers [as of October 2017]
47 Startups
$250M Raised in ICOs $46M Raised in in in VC financing

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