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Blockchain study finds 0.00% success rate and vendors don't call back when asked for evidence

By The Register

Where is your distributed ledger technology nowRead full story

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  • Paul Salisbury
    Paul SalisburyCEO at BlockchainLabs.nz

    It is absolutely true that many technology service providers and big-4 advisory firms have oversold Blockchain to enterprise - simply using the hype to demonstrate “thought leadership”, or worse, drive services revenue despite knowing the customer didn’t need it.

    I’m my view, if you are asking “how is a Blockchain better than a database?” then you don’t need a Blockchain. My company continues to turn away customers (mostly Enterprise) that haven’t already critically evaluated the technology as it

    It is absolutely true that many technology service providers and big-4 advisory firms have oversold Blockchain to enterprise - simply using the hype to demonstrate “thought leadership”, or worse, drive services revenue despite knowing the customer didn’t need it.

    I’m my view, if you are asking “how is a Blockchain better than a database?” then you don’t need a Blockchain. My company continues to turn away customers (mostly Enterprise) that haven’t already critically evaluated the technology as it applies to their use case.

    There are a very narrow set of use cases where they simply aren’t possible without a Blockchain.

    There is a slightly wider set of use cases where a Blockchain can help bootstrap a “Minimal Viable Economy” or establish a marketplace with minimal rent-seeking.

    Then the rest of the viable use cases are Blockchain adjacent - in that a Blockchain is a protocol that enables some additional functionality or removes some friction from a broader application/platform. However, nobody talks about Amazon as an “internet powered marketplace” rather, how internet protocols are employed in service of Amazon’s business models.

  • It is difficult to come up with many practical applications where the unique characteristics of the blockchain data structure (the article describes it as “a database with performance and scalability issues”) make it obviously better than alternatives.

  • And the ones that are getting results are only blockchains in name like IBM’s “blockchain” which are just glorified databases.

  • William Wood
    William WoodOwner at William Wood

    Blockchain is in its infancy, let’s wait and see how it morphs... by the way, these problems aren’t why Bitcoin is losing value, look at government action potential, hacking, and computer failure...

  • Is this why cryptocurrency is crashing? I’m a believer in the benefits of blockchain, but should I re-evaluate?

  • And the fad passes.

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