Re: Why blockchain technology isn't that novel...

I tried to cover off my response here [1].

Essentially; if block-chains are used for something that seeks to be a form
of legal tender (meaning, money) issues surrounding 51% attacks [2] come
about.

The rest described in [1]

[1] http://lists.w3.org/Archives/Public/public-webpayments/2014Apr/0185.html

[2] https://www.youtube.com/watch?v=bi2thGzzNSs

On 28 Apr 2014, at 11:27 am, Manu Sporny <msporny@digitalbazaar.com> wrote:

> A couple of counter-points to the "Bitcoin is the next Internet" and
> "Blockchain technology will re-invent entire industries" rhetoric:
>
> Is Bitcoin Really the Next Internet?
> http://www.coindesk.com/bitcoin-really-next-internet/
>
> The blockchain story is bullshit
> http://geoffreywoo.com/the-blockchain-story
>
> The blockchain story is bullshit (Part 2)
> http://geoffreywoo.com/the-blockchain-story-part-2
>
> The basic premise is that Bitcoin is in a pretty big bubble right now.
> Blockchain technology has a narrow set of problems that it could be
> applied to and it doesn't necessarily solve those problems in a way that
> is performant, or acceptable to most of society. Some very good points
> made in the articles. Then again, many technologies that ended up
> changing the trajectory of humanity (like the automobile or the Web)
> started out as inferior solutions to the status quo.
>
> -- manu
>
> PS: I'm personally still undecided, but it's good to get some
> counter-points into our heads.
>
> --
> Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny)
> Founder/CEO - Digital Bazaar, Inc.
> blog: The Marathonic Dawn of Web Payments
> http://manu.sporny.org/2014/dawn-of-web-payments/
>