The fact that we want blockchain to solve every problem is a problem

The fact that we want blockchain to solve every problem is a problem

6 years ago
Anonymous $TjsaxHwAP-

https://thenextweb.com/syndication/2018/07/14/the-fact-that-we-want-blockchain-to-solve-every-problem-is-a-problem/

Blockchain technology came part and parcel with cryptocurrencies, and no matter how hard the institutionalized investors, bankers, and regulators try, there is no splitting them. This already gives insight into what the best use of Blockchain technology is – currently – according to Lorien Gamaroff. If Gamaroff is of the opinion the cryptocurrencies are the killer app for Blockchain, then, one of the founders of this ecosystem, Vitalik Buterin, the creator of the Ethereum Blockchain, begs to differ on a higher level.

Buterin, in his blog: ‘ The Value of Blockchain Technology’ vehemently denies the entire notion of a ‘killer app’ for Blockchain. “First, there will be no “killer app” for blockchain technology. The reason for this is simple: the doctrine of low-hanging fruit. If there existed some particular application for which Blockchain technology is massively superior to anything else for a significant portion of the infrastructure of modern society, then people would be loudly talking about it already,” Buterin explains. He does cede that perhaps there is a killer app out there that has already made its mark on Blockchain technology, and indeed, is being spoken about – loudly. The cryptocurrency revolution, or at least the Bitcoin one, has picked up some of the hype and attention from ‘modern society’.