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Dima Starodubtsev, the Russian ambassador of Colored Coins, spoke at the Business panel of the Moscow Bitcoin Conference about the capacities of the blockchain technology.

Starodubtsev believes that we should not worry about the volatility of bitcoin because the price of cryptocurrency depends on the number of users:

“If you want to understand bitcoin prices ... look for the answer in the number of users, that is in the correlation between the number of users and the price. If we have one billion bitcoin users tomorrow, one BTC will cost one million dollars ... because the mutual value will grow within the network.”

Starodubtsev noted that the popularity of bitcoin is related to the potential of the public ledger or the blockchain technology. In his opinion, this technology leaves behind any other technology due to its transparency.

“It is impossible to forge or destroy it. The ledger allows to control the list of property holders – let alone currency – this applies to any property.”

Starodubtsev explained that with Colored Coins you can introduce a convention and record any transaction or deal that links two addresses. He gave an example:

“Let’s imagine: I’m Jack, I create 100 jacktokens that allow people to attend my party. Then I create a second transaction to transfer jacktokens to someone who will spread word about my party. This technology enables us to create values of all sorts. The creators themselves define what values they want to create since they possess the private keys.”

“No other technology allows us to make transactions transparent as easily as the blockchain does,” he added.

Marina Gurieva, co-founder of the cyber.Fund community, talked to conference attendees about the role of this decentralized system in the development of innovations. Gurieva sees a lot of growth in the number of new apps built on decentralized systems. She named the most promising startups that use decentralized systems in their businesses: BitShares, NXT, Ripple, Etherium, Maid Safe.

“A large number of users will demand the issue of their own token built on bitcoins ... the number of ATMs will grow ... The number of decentralized apps will grow too. We believe that users that do not belong to the geek culture will soon notice the innovation and appreciate the advantages of the system, for instance, its relatively low costs.”

Gurieva does not regard the volatility of bitcoin as an obstacle for the businesses either:

“We are happy that the bitcoin price has dropped because we can now invest in these assets. If we look at the future, decentralized systems will be a part of our life by 2025, thanks to the Internet of Things.”

The Moscow Bitcoin Conference is being held today in the capital of Russia. CoinFox is reporting it live on Twitter and follows the main trends of the event.