The user protections at the heart of VPLedger

September 23, 2019

 

Blockchain technology has come a long way in the last few years, and increasing regulation has offered some degree of user protection. But it’s still seen as the Wild West, and there’s only so much that regulation alone can achieve. By offering the right tools and network structure within the right regulatory setting, VPLedger will provide powerful safeguards against misuse.

Just like the Wild West, to which it is often compared, blockchain has thrived in a climate of regulatory neglect. Left to their own devices, the innovators and entrepreneurs were free to build whatever they wanted. The result was the rapid acceleration in the growth of the technology, albeit at the cost of hacks and scams too numerous to mention.

This Wild West phase is now coming to an end. It may have served a purpose, bringing the technology to a point where it was capable of sustaining mainstream applications, but it’s not fit for the future of blockchain adoption. The lack of user protections and guarantees about the stability of the software are two of the major issues now preventing businesses from integrating blockchain into their processes.

Read more on Medium.

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