CNBC: "Blockchain is a poor technology"

[Brendan Burgess]

Interesting article from CNBC


Blockchain is not only crappy technology but a bad vision for the future

• People have made a number of implausible claims about the future of blockchain, based on a misunderstanding of what a blockchain is.
• Tampering with data stored on a blockchain is hard, but it's false that blockchain is a good way to create data that has integrity.
• Blockchain systems are supposed to be more trustworthy, but in fact they are the least trustworthy systems in the world.

 

[Negotiator]

IOTA's Tangle is considered to be Blockchain 2.0......no mining or transaction fees and infinite scalability, not to mention quantum proof. Overcomes all the issues with Blockchain. Perhaps no coincidence it's been the best performing Crypto in the recent uptick!

That said, I disagree with some of the things highlighted above.....it's too broad. Blockchain technology is not crappy technology nor a bad vision for the future, what a silly statement to make in my opinion!

 

[Duke of Marmalade]

Wow!

…is almost certainly artificially propped up by fake transactions involving billions of literally imaginary dollars

That’s your Tether I presume. What a fool I’ve been, buying into this yarn that Blockchain itself is good.

 

[TheBigShort]

Im open minded to the whole concept of blockchain. So the article above is quite persuasive.
On the otherhand, the author Kai Stinchbombe appears to be in the business of wanting everyone to trust him with their money.
Im not saying he is wrong, but it is clear that he has an interest in not wanting blockchain to work.

 

[MrEarl]

Hello,

I agree with Negotiator, both on his views on the article and also, on his comments about IOTA.

There is more and more investment going into exploring various possibilities and uses for Blockchain, that money is being invested by well respected individuals and corporates, they are not all wrong !

As an aside, I'm delighted to see that Mr. Burgess is reading CNBC's articles on Blockchain and hopefully also Cryptos, as there are plenty of interesting articles to be found there, both good and bad