logo
Welcome Guest! To enable all features please Login or Register.

Notification

Icon
Error

Options
Go to last post Go to first unread
GabrielS  
#1 Posted : 30 August 2019 10:08:36(UTC)
GabrielS

Rank: Newbie

Groups: Registered
Joined: 08/02/2019(UTC)
Posts: 0
Belgium
Location: Brussels

Blockchain Surprised the Payments Industry, but Its Usefulness Beyond Digital Money Does’t Match the Hype

No new technology since the Internet itself has excited so many pundits as has blockchain. Launched just seven years ago, blockchain is the underlying platform for the Bitcoin digital currency, which took the payments industry completely by surprise. Blockchain is tipped to have endless applications beyond payments – including land titles, identity management and e-health records - and is almost universally labeled as disruptive, but it’s really too early to tell.

Blockchain was designed specifically for one main goal: preventing the “double spend” of electronic coins, without a central authority. Yet few of the mooted use cases are vulnerable to double spend or anything analogous. At the same time, many important security objectives are not provided by blockchain at all. Thus, blockchain is neither necessary nor sufficient for many of its suggested applications; in practice it’s massively over-engineered, or incomplete, or both.

The most important thing about blockchain may prove to be the new generations of distributed ledger technologies it has inspired. This report reviews blockchain’s special properties, provides practical advice for deploying digital ledgers, and soberly re-assesses their true disruptive potential.

UserPostedImage

By Steve Wilson
Full access here https://www.constellatio...ng-weak-links-blockchain
Users browsing this topic
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.