The blockchain. A strange thing to say when Bitcoin is nearing $8k each, but I'm not interested in cryptocurrencies as an abstract store of value based on the fever of the market. By now, however, I really thought someone would have found a use for the blockchain as the underpinning of some kind of new app or tech that would be able to create real value for bitcoin or whichever crypto they built it on. However, we ju…
That's the fundamental flaw in the blockchain, IMHO. The amount of resources in terms of computing and electricity you need to verify transactions at scale is ridiculous. Nobody's going to bother with that unless there's a serious payoff involved.
I find it helps to mentally replace the word 'blockchain' with 'triple entry accounting.' You don't expect much groundbreaking tech work to come from something like triple entry accounting.