[chollida1]

As someone in finance, where blockchain gets brought up alot, this one is easy.

Blockchain is the proverbial solution looking for a problem. As has been pointed out ad nauseam, the blockchain is often just a euphemism for database.

And that's where the backlash comes from, someone says Blockchain for settlement, or blockchain for recording startup up option tracking, or blockchain for tracking, well anything physical or digital.

The problem with these solutions is that almost always, there exists a database doing exactly what the person is proposing we use blockchain for, there aren't any trust issues with the counter parties so distributed consensus doesn't buy you much, often it makes things worse due to its immutability.

Couple that with the fact that many people like the current system, or make money based on the current system and therefor can't see anything broken about it.

Also, the current technology has inertia behind it, the new technology can't be just a bit better, it needs to be much better to displace the incumbent tech, and blockchain just isn't that much better yet for most of the soutions its proposed for.

TL/DR Blockchain is the new NoSql. Awesome, useful in very strict cases, but its currently supremely hyped up and over sold.

[merrickread]

I completely agree, it sounds like the forever present problem of wrong tool for the right job.

However it offers the potential to approach problems in a fundamentally different manner. I find myself incredibly curious and fascinated with how it works - then immediately rejected once I see discussions on HN about the blockchain.

According to your bio you've been programming for many years - is an apprehension towards something new a common pattern you've observed?

[wmf]

To many people on HN, blockchain isn't new; many of us have gone through the incredibly curious and fascinated stage around 2011-2013 and are now in the cynical and grumpy stage. If you're curious about this stuff keep learning but HN and Reddit probably just aren't good places to do so.

[npezolano]

To comment on the use case of faster than T+3 settlements using the block chain. You have to keep in mind many of these instruments trade monthly at best.

[zamalek]

> supremely hyped up and over sold.

Which results in "hype recoil." There are some interesting use-cases for the technology, but the hype in areas where it is not applicable (e.g. as a liquid currency) severely erode the overall perception. Fanatic belligerence when the flaws are discussed enrich angst toward the technology.

In many ways the issue is not the technology itself; rather the evangelists of it.