Friday, July 26, 2019

Block chain technology will be another disappointment

Five years ago, my friend was excited about blockchain technology. He explained the concept of this technology. He explained how the use of open ledger system, mining and consensus algorithm will allow systems to be developed that are hacker proof and does not need to rely on a trusted intermediary.

I listened to his explanation and asked him several questions. I felt that it was a complicated way to deal with the challenge of being "hacker proof". I said - it will not work.

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