Blockchain's Future Depends on Adoption, Not Technical Capabilities
XDC Network Co-Founder Atul Khekade believes that blockchain's future success will depend less on proving its technical capabilities and more on getting governments, enterprises, and everyday users to adopt it.
Khekade explained that the idea for XDC started around 2015-2016 while he was working on cross-border finance and payments. At the time, there was no common trust layer connecting different parties across international markets, making transactions difficult and inefficient.
Khekade said Bitcoin introduced the concept of a shared settlement layer, but Ethereum expanded its possibilities by showing that blockchain could support more complex agreements. However, after experimenting with existing blockchain infrastructure, Khekade's team concluded that it was not yet designed for enterprise-level applications.
To address this issue, XDC focused on building a network specifically tailored to institutional use cases, aiming to create infrastructure that could support international commerce. The network aimed to combine smart contracts with faster settlement processes, making transactions more efficient and secure.