However, perhaps the greatest impact of blockchain-based currencies will be found in other areas beyond the financial system. Bitcoin et al provide a wide user base, fertile spaces for experimentation and 'fuel' to propel new ideas forward. Even if Bitcoin does not revolutionise the financial system, it might well pave the way for other implementations that could offer serious benefits for supply chains and government services, for example. While discussion of a wide range of applications of blockchain are now commonplace, currencies such as Bitcoin have dominated most media and policy attention to blockchain over the past few years and this could affect the ways in which the technology develops. In other words, frequent reference to the fluctuating value of Bitcoin and its use in black markets may distract the relevant actors and public from a more productive debate about the wide range of opportunities and challenges that the technology actually presents.
Anticipatory policy-makingBlockchain-based currencies present many legal and regulatory challenges including consumer protection mechanisms, enforcement methods and possibilities for engaging in illegal activities such as tax evasion and the sale of unlawful goods. They also present several potential benefits for citizens, including reduced costs, improved security and a more accessible and innovative financial system. These and other issues were recognised in a recent motion passed at the European Parliament, which also highlighted the wider potential of blockchain technology 'well beyond the financial sector', and called for a proportionate regulatory approach and the development of appropriate capacity and expertise at EU level.

Ready for a prime time? Jeff Stollamn answered.

While all this sounds amazing there are many limitations involved in the fuller utilization of blockchain. Jeff Stollman (Fig \ref{715508}), a technology futurist shared his thoughts on the current limitations of the much-hyped tech. He has been designing blockchain solutions for clients for over three years and has four patents pending in the blockchain area. Here is what he said: