No, “Blockchain” is not a solution looking for a problem
I have heard this pseudo-profound comment many times:
“Blockchain” is a solution looking for a problem.
Sorry, you are misinformed (ie, wrong). If you missed it the first time around, here’s the problem statement, articulated in 2008:
The problem statement, to paraphrase, is
“How do people pay each other electronically without being at the behest of Financial Institutions?”
The proposed solution is:
Bitcoin uses blockchain technology, right? Yes, yes it does. Of course you remember the 2015 rhetoric “I’m not sure about Bitcoin, but I’m interested in Blockchain, the underlying technology” – enthused by people who had read something on some website (or perhaps on a Dilbert) then stood on a stage and waved their hands?
Sorry: that was *so* last year. This year, R3, arguably one of the world’s premier companies pitching “blockchain”/”distributed ledger”/”fabric of finance” (no one actually knows the difference) said on April 5 that they are not using blockchains
View original post 539 more words