VIENNA, AUSTRIA–(PinionNewswire.com)– Helmut Siedl, a leading blockchain expert and blockchain visionary at DMD Diamond, recently appeared on the Web3 Global Media podcast to share his insightful and provocative thoughts on the future of blockchain technology and its impact on the financial sector.
During the discussion, Siedl emphasized that blockchain should be viewed as a “force of nature” that cannot be strictly regulated. He cited the example of the European MiCA regulation, noting that if the system is decentralized enough, any attempts at regulation will be futile. Helmut is convinced that only those systems not controlled by any one company or central authority can be truly legitimate.
An important topic of his conversation was the principles of decentralization. According to Siedl, actual legitimacy is achieved without central authorities. “The one layer gets this legitimation by no company behind earning on whatever you do. There’s no owner, and there’s no central entity controlling it. And this is giving it legitimation. Mostly, this is true for blockchains, but it could also be true for smart contract-based projects,” he noted.
At the same time, Siedl drew attention to the perception of blockchain users. Not every user needs to understand the technical details; the technology should be accessible and understandable to a wide audience, he added. The main goal is to offer intermediary services by choice, not necessity.
In his vision of the future of blockchain technologies, Helmut emphasized that the technology does not mean “the end of banks” but opens the way for forming new banking models. The main difference is that intermediaries become optional, and users get to choose whether they want to take on more responsibility or trust the services of intermediaries:
“There will be people who will always be afraid to be responsible for anything. They need middlemen and then some broker or new bank. Back then, we dreamed that blockchain technology would end banks.”
Siedl concluded by saying that in the next few months, the DMD Diamond team was able to develop a full-fledged EVM-compatible smart contract that will run on the new blockchain platform.
They created an innovative consensus mechanism called Honey Badger, which differs from existing competitive mechanisms. This opens up many new possibilities for web 3.0 projects, allowing them to use this advanced blockchain layer. Helmuth also noted that the project is conceived as completely decentralized, with no pre-mining, ICO, or company—it is completely community-driven.
About DMD Diamond
DMD Diamond (DMD) is a community-run, layer-1 blockchain project that offers several features designed to provide users with a secure, fully decentralized, and sustainable platform.
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