Don’t All Jump on the Blockchain Bandwagon at Once


#1


by @SarahPentland


#2

The blockchain technology itself is very good, actually people should be encouraged to jump into the blockchain bandwagon so that they would understand what is it about and why we should use the technology to secure our daily life personal and business datas, transactions, everything that involves security and legitimacy.

What people should not do is to believe in every startup company claiming to use blockchain technology without any solid evidence of that. Dascoin for instance claims to use the blockchain, where there is no were a block of evidence of their claims except some nice graphics in their marketing show.

Building and using blockchain technology is not somehow difficult with a decent programming but using it to marketing something that does not exist or does not work makes people think bad about blockchain. People often look at what you show them on the first layer, people does not care anymore what you have underneath that first layer unless you mention that to them, and most of startup companies do that by just marketing their product with a claim that they are using blockchain technology.

Many people think cryptocurrencies are blockchain, people think bitcoin is a blockchain, ethereum is blockchain. And that because there is a lack of education about blockchain and people need a good education on that.


#3

I think we agree, education is needed. Blockchains are good at what blockchains are good at, but because they are new and revolutionary and since they are also associated with cryptos which are (or have been) going through the roof, they are appearing in everyone’s marketing collateral whether relevant or not. Hence the story of the drinks company that added blockchain to its name and saw its shares rise 300%. MaidSafe’s point is that they are great at providing an immutable record of events and thus authentication, but that’s not the same as providing data security.


#4

Totally agree on that, the word Blockchain is nowadays overused. Maybe it is just me but that is something I noticed


#5

This is cool! Some constructive feedback - there are a few typos which I can point out when next at a computer. Also too many references to Blockchain in the text (most sentences), it’s what mostly stood out to me!