While more people are becoming aware of Bitcoin, not everyone understands blockchain technology and what it can do, said Mark Cachia CEO of Vienna-based Scytale Ventures, which has been investing in the technology and believes in a Web 3 vision that includes a decentralized, verifiable and more secure Internet enabled by blockchain technology.
“Right now, it’s very fragmented,” Cachia said. “What does it mean to have a self-sovereign thing living on the Internet with no particular jurisdiction and no employees? Governments don’t know how to deal with it yet.
“As more useful and impactful blockchain protocols gain prominence, that will mark the turning point for public awareness,” he said. “Public awareness of blockchain protocols will mirror the protocols that power the Internet, TCP/IP.”
A set of standardized rules, TCP/IP, which stands for Transmission Control Protocol/Internet Protocol, allows computers to communicate on a network such as the Internet.