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This pretty much sums it up: The point is to build new decentralized protocols that will not be owned by any one central company, but will instead be the prope
by jpatokal 9y ago
This pretty much sums it up:
The point is to build new decentralized protocols that will not be owned by any one central company, but will instead be the property of all of their users, who will fund their development by buying coins and who will then be rewarded by the increasing value and usefulness of those coins. This is not that. This is more like: WENN Digital will manage a centralized database of photo rights, and someone will stand off to the side shouting "blockchain!" occasionally when it seems like people's attention is drifting.
Also, that chart in the NYT with all the Kodak-colored little boxes and arrows is buzzword comedy gold. Blockchain leads to Tensorflow because why not!
- paganel 9y agoThe first part about institutional investors deciding which company gets to be part of a market index and which not (thus defeating the purpose of “index following”) is also very interesting. But for now everyone is happy that the “tide is lifting all boats”, that the “fundamentals are healthy” and all that, even though to me it looks sketchy as hell and reminds me of how the rating agencies were doctoring their ratings pre-2008, for “the good of their clients”.