Dr Jeckyll wrote:the latest in blockchain news! https://cointelegraph.com/news/despite-similarities-is-blockchain-really-the-next-internet
Ok, working through my list of promised posts (your up next Top 5 rankings of Jealous Guy!).
The Blockchain is legit, but overhyped. I think this article is a decent summation of where do we go from here:
https://techcrunch.com/2017/03/12/bitte ... usionment/
Bitcoin right now is mostly used as a way to get around Chinese currency controls. Its community is at war bo/rod/mtm/kite/frank in #MAGA with itself and won't really pull its head out of its ass in time. The fact that they cannot agree to speed up their transaction processing and are still wrestling with forks is no bueno for its future.
Here is an analogy that might help...
Blockchain = Social Networking (this is the underlying method)
BitCoin = MySpace (this is the first version of this you heard of)
???? = Facebook (this is the one that gets it right)
Someone needs to come in and clean this up. We'll have numerous specialized or private blockchains (same way we have for social networks), but we also need a decent mass market universal blockchain with a commonly accepted crypto currency on top of it.
Now in terms of the blockchain, I'm in agreement with the techcrunch article above which says that we don't even really need a mass market crypto currency/blockchain because there are more than enough specialized uses to matter. At the same time who knows what tomorrow will bring and there could be a killer app out there.
To me, what's more interesting is the accounting level of mundane actions that the blockchain can allow for. There are plenty of things we've never transacted in before because the level of human effort to settle those transactions was not worth it. Blockchains gives us additional levels of precision that can open up new ways to do business. The best analogy I can provide here is that once upon a time we measured things in hours, minutes, and seconds. Then we added milliseconds. They were not crucial to our existence, but they allowed us to do more things than we could have before.
Anyway I am rambling and need to get ready for my jealous guy post.
Believe the Block Sonz.