Examining the Arguments Against Blockchain Technology: A Critical Evaluation.
Jeff Graber
Founder at BotAds | Building AI in Advertising | Sold $1M Apple Service Business | Tech Startup Ambassador (Paddle.com & Gamma.ai) | Goldman Sachs 10KSB Alumni
Today a fellow Linkedin user declared:
"Desperate times call for desperate excuses. Meanwhile, if you want to learn the truth about what crypto/blockchain is all about, here's an award-winning documentary that pulls no punches"
The video is posted below if you want to check it out for yourself.
When I was done watching, the question in my head wavered.
"Is the blockchain not a practical solution for modern society?"?
The video argues that blockchain technology is inefficient and promotes criminal activities because it is immutable. However, the only evidence provided to support this argument is that blockchain is "promoted with ambiguous claims" and that its marketing hides behind generalizations. These are not valid reasons to dismiss the technology's potential benefits or to argue against its practicality.
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The video makes sweeping generalizations about blockchain technology, such as its inefficiency and inability to stand on its merits. However, these claims need to be backed up with evidence, and the video needs to consider the wide range of use cases where blockchain technology can be effective.
The video argues that the so-called benefit of decentralization is based on the false notion that regulation is more harmful than good. This is a false dichotomy because it assumes that decentralization and regulation are mutually exclusive when they can coexist and complement each other.
Lastly, the video suggests that blockchain technology will replace oligarchs with another set of influential people, which is an ad hominem attack on the technology's potential for decentralization and democratization.
Is the video rampant with fallacies? Yes, it clearly is. False authority, sweeping generalization, false dichotomy, and ad hominem. While it's important to consider the potential drawbacks of any technology, it is equally important to approach the subject with an open mind and a willingness to consider all sides of the argument.
In conclusion, the video fails in a spectacular fashion with misconceptions about blockchain.
Digital Marketing Consultant | Creative Director | Social Selling
2 年Awesome video and insights, Jeff. A lot can definitely relate to this. :)