Boris Johnson, the former United Kingdom PM, used one of his first speaking engagements to attend a Blockchain conference in Singapore after losing his job. His opinion was that the public must be convinced that there is a reason for blockchain to exist.
The ex-PM and current member of Parliament appeared in his signature rumpled manner at the International Symposium on Blockchain Advancements in Singapore on Friday. He talked about vaccines, the war on Ukraine, how Michelin critics are similar to North Korean dictators, and ballooning technology.
He proved that he and his speechwriter had at most been briefed about blockchain by calling the technology pioneers “people who are on the cutting edge of a new and yet infant technology whose potential the whole world is currently struggling to assess.”
Johnson spoke out about the current state of the cryptocurrency industry, saying there is a lot of controversy around specific use cases and all the sensitive issues and delicacies.
Johnson finally touched on his theory of four stages in developing new technologies. These stages include fear, doubt, skepticism regarding use cases, and speculative mania. Then comes the burst of a giant bubble that leads to progress rising from the debris.
Johnson showed the moderator where he felt blockchain is currently in the cycle. He said, “You have to convince people that use cases are real.”
He acknowledged that blockchain has “a lot of possibilities” and that he could see how it “could somehow assist companies.”
Johnson also waxed poetic about the need to create an open society for such innovation to flourish.
“Innovation occurs when people can speak exactly what they want and meet whomever they wish, and love who they like and live their lives as they please, provided they don’t harm other people,” declared the former tenant at Number 10 Downing Street.
Boris Johnson gave his opinions on the controversy surrounding cryptocurrency’s use case, acknowledging that he had read some “shocking headlines” about the whole venture.
“I believe that we will need some way to hold people accountable,” the politician with the long hair said. He also stated that cryptocurrency must be trusted and, therefore, must be “regulated.”
BoJo (Boris Johnson) noted that the taxpayer is ultimately responsible for paying the bill when everything goes wrong.
The MP also spoke about social media, especially Twitter, which he claimed contributed to polarising in America.
“What I like about Twitter is… it polarizes opinion. Everyone gravitates towards one side or the other. The genre and the briefness that’s required make people punchy in their assertions, more intelligent, and it can even become aggressive,” stated the Brexiteer.
“We will adapt and grow and learn thicker skins around it.” These are all amazing and new technologies. We need ways to make it work without getting beat up,” he stated.