I’m done with Blockchain
I used to be a reluctant blockchain enthusiast. After a few years of failing to see any benefit arising from this approach, I have to admit I was wrong and the critics were right.
While a talk I gave about #bitcoin a few years ago (https://lnkd.in/e-FBHXsw) remains one of my most popular ones (we at INNOQ even built a (if may say so myself) very pretty microsite for the topic), you can see my enthusiasm had already shrunk significantly by 2021 in this interview I did for GOTOpia.
But if I look back at the space these days, I have to say I just haven’t seen any of the potentially great things materialize. I still maintain that if you want a decentralized cryptocurrency such as Bitcoin (a very big “if” indeed), a blockchain remains the only mature approach. But apart from reasonably questioning that as a thing worth pursuing, I have seen absolutely 0 successful applications of that approach anywhere. Every attempt to make it work made it to prototype/pilot status at best, and in each and every case, a centralized solution ended up being the better option.
I’m late, but to me, too, the #blockchain hype is over.
I’m glad to have read that. I found the technology interesting initially (hey, I bought a small ASIC rig in 2013 and mined one whole bitcoin with it…) but ultimately I too realized that decentralization brings a whole other set of trade-offs with it, not the least of them being the proliferation of scams (combine human nature with an environment that is hard to regulate by design) and burn-the-planet energy inefficiency. For these reasons, for quite some time I’m advocating for outright banning of cryptocurrencies and other blockchain applications.
Software Architecture Trainer, Software Architect at Robert Bosch Gmbh
2 年Chapeau!....for stating such a message that clearly.
Author "Fundamentals of Enterprise Architecture Management" | Global Lead Architect Data Analytics @ Lufthansa | Lecturer | Speaker | EAMfundamentals.com
2 年Block chain is a nice example of how difficult it can be to assess new technologies and their potential. My standard example for the opposite are Tablet computers (before the upcoming of the iPad, a lot of people, including me, thought: “what a useless concept ;)
Founder and CEO @?Nomp.se
2 年I've agreed with this opinion since 2010. ?? Very few use cases that benefit from a distributed ledger, and even fewer that can handle the trade-offs.
Senior Software Engineer and Cloud Developer
2 年I also agree. The biggest lie for me is acually not the technology but the misleading and abused adoption of these means in terms of speculation, store of value, and all of that finance shit.. i dont know where were our brains when we have been observing thousands of tokens claiming thousands of projects blabla!! Who is sitting there in some 100qm studio appartment in California coding some nonesense to jump in the blabla chain to offer us i dont know what!? Even worse, the same troop would have personal conflicts and zaaq there is a new github fork and yet the shit splits into two. market cap of few millions floating in that brokerage pot hunting stupid enthusiastics like me.. To those posting about the layer x and smart contract in you name it blockchain, i swear no one understands what happens in terms of end users. Then the NFT came across! Boah! Leave me man.. dirty life