Blockchain Belt and Road Initiative (BCBRI)
What is the Blockchain Belt and Road Initiative?
It’s an idea I have that would allow remote regions to connect with more centralized areas in respect to finances through Blockchains.
What is the benefit of having a BCBRI for you?
By building a Blockchain system along the BRI the most robust and secure Blockchain can be established in terms of regional expansion and potential for highest node value. The benefit of having nodes along the BRI will allow for smaller rural areas to gain access to digital network infrastructure. Remote nodes provide an incentive in the event of a large scale disasters on a global level, the blockchain would still be preserved. Attacks on the Blockchain are more challenging for hackers. Power to the nodes would be more direct and reliable than rural municipal areas.
What impact will come from the BCBRI?
The largest change will come to rural areas that don’t have access to currency, allowing even the smallest hand craft store to become direct sellers.
What are the major challenges for implementation?
I’m not aware of all the specific issues, but a major challenge with any Blockchain is the supply of power, then internet access and server node infrastructure. The largest challenge will possibly be in the social adaption of the system and establishing trust.
Paper will never go away in the next couple of centuries, possibly more paper will be required during the next century?
As the wallets for all the new users come into existence, I believe the paper wallet will most possibly be the most adopted device for storage. Possibly a special paper wallet system that allows specific values to be created so that the paper wallets can be used as a form of physical currency in hand to hand trade.
How can you get involved?
As in the case with any new changes, the more people talk about an idea, the more people support the idea and the more people are willing to support those who lead the idea into an actionable item the more likely it will happen. A dedicated webpage will be needed with a simple introduction. The webpage will need communication media from informative posters to short video clips and some support research documentation for the idea by organizations in their respected industries.
Is there anything that seems to be already on this track?
China have announced their intention to build the internet system called ‘Internet Plus’. The idea is that even though these installations are not cost effective in rural areas that the long term benefit will allow for the installations to become viable.
Please include any questions that come to mind for such a project in the comment section below.