Blockchain held back by lack of programmers, says expert

ABS-CBN News

Posted at Jul 25 2018 04:47 PM

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MANILA - Mainstream adoption of blockchain and cryptocurrencies is being held back by the lack of programmers and developers, an expert said on Wednesday. 

While the market for cryptocurrencies is growing again and more financial firms are exploring blockchain, the mass adoption of technology will take time, said Ian Fernando, founder of the news site cryptoeconomy.io.

"For mass adoption, I believe it might just take, maybe just a couple of more years, just because the tech is not solidified yet," Fernando said in an interview with ANC. 

People will also need to get used to the idea of transacting without cash, he said, adding, "The concept of invisible money is something that can be hard to grasp."

More people are now trying to understand the technology, instead of just seeing it as a quick money-making scheme during the Bitcoin boom, he said.