| I argue that the whole blockchain approach is a solution designed for the needs of the early adopter... and is just seeking a mass market problem to solve. I reach this conclusion, not as a cynic, but as a skeptical advocate. I ask everyone I can this line of question and have yet to get an answer that doesn't involve magical thinking. Question: Other than "decentralization", what value does blockchain provide that can't be provided with existing technology (which will always be inherently less technically complex and thus easier and cheaper) can't do? My sense is that the answer is "nothing" (except decentralization). If that's correct, then all of the technical complexity is to be able to achieve decentralization. However... The mass market (everyone to the right of the chasm... early majority, late majority and laggards) has proven with our dollars that we don't care about a goal of decentralization. In fact we make sacrifices to have more centralization because we love it. It simplifies our lives. So if the major market doesn't care about the only real value, then there is no real mass market value. In that case, blockchain would be just another early adopter solution trying to not die off in the chasm. |
My opinion: The problem is not that traditional technology can't provide the same value. It could, but it doesn't. The world is still in the process of mapping all societal/legal/finacial rules and procedures to a digital framework. In germany it is called "digitalization". And (at least) germany mostly sucks at doing this. In a way, blockchains provide a playground to explore possibilities no traditional framework i know of does.