Ten years in, nobody has come up with a use for blockchain


199 bookmarks. First posted by PeterMHoward december 2017.


Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless…
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3 days ago by timwburch
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless…
from instapaper
17 days ago by wenxin
All the reasons why blockchains (not just Bitcoin) are just generally bad ideas, and not useful as replacements for existing mechanisms.
bitcoin  blockchain 
18 days ago by PeterErwin
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless…
from instapaper
10 weeks ago by carlosmiceli
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless…
Instapaper  IFTTT 
10 weeks ago by snivitz
Key point: blockchain is useful to encode/facilitate transactions but the transactions themselves don't really seem to be the problem. More important are services around them, such as fraud protection, getting your money back when the product is not as described, having a 3rd party to settle conflicts, negotiate contracts, ... That is the actual value that banks, VISA, states, and so on provide (and blockchain doesn't).
Visa can handle sixty thousand transactions per second, while Bitcoin historically taps out at seven. […] as a starting point, you have something that’s about 0.01% as good at clearing transactions. (And, worth noting, for those seven transactions a second Bitcoin is already estimated to use *35 times as much energy* as Visa.
In the end, everyone from blockchain enthusiasts to health insurers actually wants to argue out in human language [FIRST/STILL] what the business relationship is and interpret it on an ongoing basis, and THEN to write software that handles the fulfillment and payment. That already exists — it’s the status quo.

maybe faster, more efficient blockchain technologies will help: https://cryptovest.com/news/worlds-fastest-blockchain-tested-in-australia-beats-visas-payment-system/
blockchain  business  jur  decentralized  critique 
11 weeks ago by hirnsieb
Breaks down a variety of oft-touted blockchain applications (micropayment, smart contracts, distributed storage/computing, stock issuance, authenticity verification), and explains why in many cases, the overheard of being distributed and not having any intermediaries is overkill (or worse) for the task at hand.
cryptocurrency 
11 weeks ago by irace
"Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless effort and billions of dollars invested, nobody has actually come up with a use for the blockchain—besides currency speculation and illegal transactions.
"Each purported use case — from payments to legal documents, from escrow to voting systems—amounts to a set of contortions to add a distributed, encrypted, anonymous ledger where none was needed. What if there isn’t actually any use for a distributed ledger at all? What if, ten years after it was invented, the reason nobody has adopted a distributed ledger at scale is because nobody wants it?"
have_read  debunking  blockchain  bitcoin  distributed_systems  institutions 
12 weeks ago by cshalizi
Ten years in, nobody has come up with a use for blockchain (via 's newsletter)…
from twitter_favs
january 2018 by parsingphase
“Someone starting from a human perspective on banking security—who is currently harmed and how can we help them?—would come up with something very different from blockchain.… In conversations with bitcoin entrepreneurs and investors and consultants, there was often a lack of knowledge or even interest in how the jobs were being done today or what the value to the end user was.”
technology  security  cryptography  business  bitcoin 
january 2018 by syskill
One view of blockchain, cryptocurrency and bitcoin.
blockchain  cryptocurrency  technology  2017  economics 
january 2018 by ajohnson1200
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless effort and billions of dollars invested, nobody has actually come up with a use for the blockchain—besides currency speculation and illegal transactions.

Each purported use case — from payments to legal documents, from escrow to voting systems—amounts to a set of contortions to add a distributed, encrypted, anonymous ledger where none was needed. What if there isn’t actually any use for a distributed ledger at all? What if, ten years after it was invented, the reason nobody has adopted a distributed ledger at scale is because nobody wants it?

Blockchain enthusiasts often act as if the hard part is getting money from A to B or keeping a record of what happened. In each case, moving money and recording the transaction is actually the cheap, easy, highly-automated part of a much more complex system.
culture-and-technology 
january 2018 by miletich
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless effort and billions of dollars invested, nobody has actually come up with a use for the blockchain—besides currency speculation and illegal transactions.
blockchain  bitcoin 
january 2018 by since1968
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless…
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january 2018 by theory
INTERESTING: "Ten years in, nobody has come up with a use for " by Kai Stinchcombe via
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january 2018 by gnat
うーん、まぁこれからなのでは。
bitcoin  blockchain 
january 2018 by summerwind
Ten years in, nobody has come up with a use for
blockchain  from twitter_favs
january 2018 by nigeljames
QUOTE after years of tireless effort and billions of dollars invested, nobody has actually come up with a use for the blockchain—besides currency speculation and illegal transactions.
3PW  QN 
january 2018 by lafgrp
Nice review of what practical applications the blockchain actually has.
technology  blockchain 
january 2018 by andy47
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless…
from instapaper
january 2018 by rdr
Great, good, and correct
bitcoin 
january 2018 by yorksranter
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING.
january 2018 by pitiphong_p
RT : “Ten years in, nobody has come up with a use for blockchain” by Kai Stinchcombe HT
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january 2018 by jamesofputney
Ten years in, nobody has come up with a use for blockchain
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december 2017 by friedelitis
| if you read one article this year about the blockchain and cryptocurrency in general, let it be this one etc
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december 2017 by drac
this is a very good read RT @yonatanzunger: “Ten years in, nobody has come up with a use for blockchain”
blockchain 
december 2017 by Chronologos
"Each purported use case — from payments to legal documents, from escrow to voting systems—amounts to a set of contortions to add a distributed, encrypted, anonymous ledger where none was needed. What if there isn’t actually any use for a distributed ledger at all? What if, ten years after it was invented, the reason nobody has adopted a distributed ledger at scale is because nobody wants it?"
december 2017 by jonerp
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. via Pocket
Pocket 
december 2017 by driptray
RT : Ten years in, nobody has come up with a use for blockchain
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december 2017 by wjlroe
Ten years in, nobody has come up with a use for blockchain
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december 2017 by acdha
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless…
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december 2017 by fugaz
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING.
Archive 
december 2017 by pfhawkins
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless…
from instapaper
december 2017 by svs
“Someone starting from a human perspective on banking security—who is currently harmed and how can we help them?—would come up with something very different from blockchain!”
economics  design  money  culture  internet 
december 2017 by leereamsnyder