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Blockchain is overdone. It’s good for crypto currency but really doesn’t solve the myriad of things its being pushed on. There are a dozen consultants trying to
by rubyfan 7y ago
Blockchain is overdone. It’s good for crypto currency but really doesn’t solve the myriad of things its being pushed on. There are a dozen consultants trying to sell corporations on what blockchain can do. While it’s true that if you spend money modernizing some legacy way of doing things it’ll probably be better but doing it on blockchain is not the secret sauce. It’s buzzword market and a buzzword solution that isn’t worth the complexity.
- deleted 7y ago[deleted]
- acdha 7y agoIt’s still unproven that it’s good for a currency, too: a decade in, the only significant uses are speculation and money laundering. There are a few users trying to do normal daily life purchases but that volume is a tiny rounding error in the global financial system, which is why backers have lately been trying to retcon it into some sort of reserve currency store of value after having failed at the primary purpose.
- qertoip 7y agoSovereign store of value is the primary use case.
- acdha 7y agoNo. Just because that’s the community’s preferred PR answer after failing to become a useful currency doesn’t mean the rest of us forgot the previous decade of breathless claims that Bitcoin would replace the USD and Visa, PayPal, etc. in daily usage. People used to write these glowing stories about routinely buying coffee and paying for Ubers with it.
- broodje 7y agoThere's a very quickly growing use case of decentralised finance, abbreviated to DeFi. Within the Ethereum chain alone, close to $1b has been locked up in different DeFi projects.