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What a load of crock. I work in fintech. And every week or so, someone will mention 'blockchain' completely out of context, presumably because they think it mak
by Tharkun 11y ago
What a load of crock. I work in fintech. And every week or so, someone will mention 'blockchain' completely out of context, presumably because they think it makes them sound intelligent.
Blockchain won't solve anything. Sure, it's interesting as a distributed ledger, but that's as far as it goes. You think financial institutions care about innovation? Think again. They'll gladly talk about the latest buzzword if they think it can make them any money, but no one is working on anything credible using blockchain in fintech.
Banks are scared of decentralized services, and they will gladly pander FUD at governments who are willing to listen.
- sbardle 11y agoFinancial institutions won't be making the decision as to whether the technology is widely adopted or not in the long term. If there is another financial crisis, then people will eventually work out the existing financial system (esp the role of central banks) is fundamentally f#cked. Alternative currencies may then boom in popularity. It's a high risk area for startup investing, but someone, somewhere is going to make a ton of Bitcoins (?) out of this.