Mycelium’s Dmitry Murashchik: All Assets and Identities on the Blockchain Within 10 Years

By Kyle Torpey Dec 1, 2015 3:35 PM EDT

At the recent Bitcoin Investor Conference in Las Vegas, one of the panel discussions focused on what will happen with Bitcoin over the next ten years. Mycelium’s Dmitry “Rassah” Murashchik was one of the participants on this panel, and he offered an interesting perspective from a company that is focused on offering Bitcoin-related products and services that retain the digital cash system’s promise of decentralization. Although he was not willing to make any serious predictions on the bitcoin price, Murashchik did make one bold claim about how many people will be using the blockchain by 2025.

[Read More: Dmitry Murashchik on the Future of Mycelium and Bitcoin Wallets]

All Asset Ownership on the Blockchain

The idea of smart property has been around in the Bitcoin space for quite some time, and Dmitry Murashchik believes this idea of putting all of one’s assets — physical and digital — on the blockchain is one that will take over the world in ten years time. During the panel discussion, he noted:

“I expect that people’s identities, money, [and] any kind of asset ownership will all be registered in the blockchain within 10 years.”

Any asset can be securely stored and transferred via the blockchain, and one’s identity can also be viewed as an asset in certain respects. Companies already working on these particular use cases of the Bitcoin blockchain include Onename and Coinprism.

[Read More: Android App for Colored Coins Released by Coinprism]

Smartphones Will Become Dedicated to Proper Key Storage

Another key prediction made during Murashchik’s remarks on the future of Bitcoin had to do with changes that will take place in the smartphone industry. Trusted execution environments are already finding their way into some smartphones today, but Murashchik believes that this trend will accelerate over the next ten years. He explained:

“Everybody will have devices that are dedicated to storing hardware keys, so it will be hardened hardware devices that are first and foremost there to prove who you are, prove how much money you have, [and] how much you own — and as a secondary feature, they’ll also run your video games and other junk.”

To make his point clearer, Murashchik added:

“Instead of a phone that runs a wallet, it will be a wallet that runs a phone.”

These sort of hardware devices should definitely be viewed as a requirement for Murashchik’s vision of placing all assets on the blockchain. Placing colored coins, identities, and other forms of smart property on top of the Bitcoin blockchain will only make sense if those assets can be properly secured by users.

[Read More: Bitcoin Hardware Wallets Could Become as Ubiquitous as Smartphones]

Hoping for a Ubiquitous Bitcoin Blockchain

In addition to providing a prediction on what will happen in the future, the participants in this panel discussion at the Bitcoin Investor Conference were also asked to talk about what they hope to see happen over the next ten years. Murashchik described his desire for bitcoin to become as commonly used as email is today:

“There’s a thing called speculative attack. I suggest you Google ‘bitcoin speculative attack’. If that should happen, we’re all going to be rich — if you have bitcoin. Effectively, people realize that bitcoin is a much easier, more convenient, and cheaper-to-use currency than anything else . . . At that point, all business, commerce, [and] interaction will be just as open across the entire world as email is today, so borders basically become meaningless.”

Dmitry Murashchik will participate on the P2P Transactions and Digital Wallets panel at Blockchain Agenda San Diego with Inside Bitcoins. What do you think of Murashchik’s predictions? Share your thoughts in the comments section below.

Featured image via Bitcoin Investor Conference.


Kyle Torpey is a freelance journalist who has been following Bitcoin since 2011. His work has been featured on VICE Motherboard, Business Insider, RT’s Keiser Report, and many other media outlets. You can follow @kyletorpey on Twitter.

 

  • Milly Bitcoin

    Yes, and I see you posting cultist nonsense all the time.

  • I see you comment to complain typically.

  • Milly Bitcoin

    Yes, you and your goofball friends know everything and you are going to change the world! lol

  • Rassah

    Yep, just an old bitter troll with nothing worthwhile in this space but some websites 😀

  • Milly Bitcoin

    My web sites are going to end wars, collapse the banks and most governments, and completely reshape society to my vision.

  • Rassah

    So, yet another news site in a sea of news sites, a way for stores to sell at a discount or loss that isn’t Gyft which will at most just have more bitcoins flood the market as merchants convert it to dollars, making the price go even lower, and a directory of businesses not as well known as BitPay’s or the one built into Airbitz, which, unless those businesses keep their bitcoins, will also push prices down. It’s a valiant effort, but in a sea of similar efforts…

  • Milly Bitcoin

    I am setting up a set of product reviews at CoinNews. then I plan to set up a system called ‘Bitcoin Saturday’ which is similar to Bitcoin Black Friday except it will be weekly. You cannot have a currency that people use once a year. Then I have BitcoinAccetped where I can have a directory of businesses that accept Bitcoin. I have several more com’s I have compiled (like CoinEscrow) and I have been offering some bounties to set things up.

  • Rassah

    So, no ideas then? I’m disappointed.

  • Milly Bitcoin

    Bitcoin is not religion so you don’t “convert” people. You get them to use it by showing them the benefits to them of using it. Lying about what it can do and associating it with a political agendas are things not to do.

  • Rassah

    Ooh, you have ideas for how to convert people to bitcoin? I’m all ears!

  • Milly Bitcoin

    Right, anyone who doesn’t agree with your wingnut agenda is a “troll.” lol. Look who you are next in the pic, the “Director of Research” for the wackymoto Foundation. You guys are making great headway in converting the world to “anarchy” by getting people to use Bitcoin.

  • Rassah

    Oh, hey Milly! You’re still around, trolling in your little comments section? I haven’t seen or heard from you in a while. Been too busy being relevant and having credibility in the real world 😀

  • Milly Bitcoin

    I am pro Bitcoin but I hate being associated with kooks who try to use Bitcoin to promote some kind of crazy agenda.

  • Are you pro-Bitcoin or against? Hard to tell. I like doges.

  • Milly Bitcoin

    Rassah has zero credibility in the real world. He admits his agenda is to get people to use Bitcoin with the idea that once people use Bitcoin they will agree with his anarchist agenda. lol

Read more:
CBX-CryptoBullion-Screenshot.jpg
CryptoBullion Announces New PoSP Algorithm, New Focus on Chinese Markets

CryptoBullion (CBX) is an ultra-rare cryptocurrency that has been in circulation for over two years now. With less than 1...

Close