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RE: Why "I like blockchains, but not cryptocurrency" is ignorant.

in #cryptocurrency3 years ago

I like what Ari Paul said about permissioned blockchains last year:

Yes - I think that banking, medical, and supply chain industries will be "transformed" by permissioned blockchains, but not because permissioned blockchains are new or interesting.

Rather - these industries simply never implemented other types of permissioned distributed ledgers that have been around for 50+ years. So now all of the focus on blockchain is pressuring them to finally upgrade their databases that are comically obsolete.

https://twitter.com/AriDavidPaul/status/983104467762536448

When you look at markets and supply chains, some are obviously better organized than others. When blockchain proposals are popular, that suggests a market failure - which could be solved by a centralized solution if there's an organization trusted by all participants.