September 2018

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Pablo Soria de Lachica Explores Practical Applications of Ethereum

When Bitcoin entered the financial landscape in 2009, it challenged traditional ideas about the limitations of transactions and the necessity of a centralized banking system. Nine years later, the term ‘cryptocurrency’ has become common vernacular and another platform, Ethereum, has built on Bitcoin’s potential and is dominating the headlines. Conceptualized in 2013 by Russian-Canadian programmer Vitalik Buterin, Ethereum is an open-source platform that is poised to facilitate the development of next-generation, decentralized applications. In an attempt to explain what that means in more generalized terms, internationally acclaimed financial strategist Pablo Soria de Lachica recently discussed how businesses are being affected by advancements in blockchain technology. In the words of Buterin, “Ethereum uses many of the same systems as Bitcoin (such as blockchains and peer-to-peer networking) in order to generate a shared world computing platform that can flexibly, but securely, run any application users want to code. Shared ledgers like Bitcoin included.” Soria de Lachica further explained that the platform’s’ intent is…