Why Bitcoin is likely to expand beyond just finance in the era of Web3

Roundtable anchor Rob Nelson recently discussed the next frontier for Bitcoin with Custodia Bank CEO Caitlin Long.

Bitcoin technology is being adapted to power decentralized social media platforms like Nostr, which could play a key role in the new era of the internet, according to Custodia Bank CEO Caitlin Long.

In a recent discussion with roundtable anchor Rob Nelson on the next frontier for Bitcoin, Long highlighted the potential for the technology to extend beyond payment systems and into new领域s.

"You own your identity. No one can take it with you, and it's secured by a private key," she said, emphasizing the parallels between owning your own assets and owning your own data.

"Part of that technology is what you can do creatively on the chain, not just with payments, but with content, with owning data," Nelson added.

According to Long, these platforms could also be crucial in the fight against AI and deepfakes.

"We're going to be cryptographically signing the real messages so that people know it came from us," she explained.

As the need for authenticity online grows, Long emphasized the increasing necessity for companies to leverage blockchain technology.

"Bitcoin is ultimately the same technology that's going to secure your online identity. And to be honest, this is not radical and it's not even new," she said.

"Data is so cheap, it's very easy for people to just fake it and to just propagate it in an unlimited way. Ultimately, what's real and what's not is going to be determined by you signing with a cryptographic private key."

In a related development, Ava Labs, the team behind the Avalanche blockchain, recently announced that the California DMV would be putting car titles on its public ledger — allowing people to cryptographically store their car title information.