Blockchain awaits GBA data interfaces
Rather than seeking stand-alone blockchain profitability from individual initiatives, Fan at WeBank suggested that "Instead of making revenue directly, we aim to build up the blockchain platform, enable more business partners and explore more applications." Large-scale adoption is a prerequisite for more commercial opportunities, he said. Smart city, supply-chain financing, IP protection, legal records and food-chain tracing are sectors where Fan expects viable investment returns.
Introduced a decade ago, blockchain technology waits for the evolution of the ecosystem around it to mature within industry sectors, along with supportive regulatory facilitation by government authorities. It will not happen overnight.
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