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Jerry Yang, the co-founder of Yahoo, talked about the chain of blocks and cryptocurrency during a panel discussion at the Nikkei Innovation Asia Forum in Singapore last Thursday.
Yang expressed confidence in the blockchain, saying it still had a huge chance to influence the financial and banking sectors globally.
Personally, he believes that all the world's banks and trading systems should exploit the potential of emerging technology and benefit from its ability to ensure transparency and efficiency.
However, he also recognizes that blockchain and cryptocurrency will eventually disappear if confidence in technology is not built and strengthened.
"For applications to be implemented successfully, one must first build trust," Yang said.
In addition, he added: "With confidence, huge opportunities will arise for mbadive blockchain adoptions."
Today, many countries around the world are turning to the blockchain to solve many problems involving efficiency and transparency. The latest update from Spain has just announced its use of blockchain technology to produce and distribute renewable energy, which has already been done in the US a little earlier .
Read more: Spain turns to blockchain for renewable energies
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