Thanks for sharing, Damien! It's interesting to read about the potential of blockchain from someone who actually seems to understand what's going on. I've spent some time reading articles on the how and why of the blockchain and though I can't claim to fully understand the technology, I'm slowly getting the gist of it.
The potential of blockchain technology seems huge, but do you think it already has made an impact on society right now?
And are there any risks in using blockchain technology? For example, It feels like so few people have a grasp on the workings of it, that it seems almost trivial for people to capitalize on the hype around the word and the lack of knowledge of others. Just a thought!
I think I agree on the last thought. Cryptocurrencies gained a lot of attention and it’s obvious a lot of people don’t fully understand what’s going on. They see it as a quick way to make money, and it looks like a lot of them don’t realise they could actually lose a lot. I mean, Coinbase even send an email to its users recently warning them to ‘invest responsibly’.
As far as the impacts on society, I don’t think they are that big so far. One of the problems seems to be that blockchain doesn’t scale so well. You may have heard about the amount of energy needed by the bitcoin blockchain to validate its blocks. Potential is huge, but some problems will have to be solved first I believe. And one of them is absolutely educating people on what this technology can and cannot do.
The cryptocurrencies example is quite disappointing to me. It looks like a potential alternative money is just another speculative tool that just consumes a shit ton of energy. On the cryptocurrencies front, it appears we went completely backwards.
Thanks for sharing. It's interesting to get some more insight into where this is heading. I'm glad I'm not the only one that feels slightly disappointed by the unkept promise of cryptocurrency.
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Thanks for sharing, Damien! It's interesting to read about the potential of blockchain from someone who actually seems to understand what's going on. I've spent some time reading articles on the how and why of the blockchain and though I can't claim to fully understand the technology, I'm slowly getting the gist of it.
The potential of blockchain technology seems huge, but do you think it already has made an impact on society right now?
And are there any risks in using blockchain technology? For example, It feels like so few people have a grasp on the workings of it, that it seems almost trivial for people to capitalize on the hype around the word and the lack of knowledge of others. Just a thought!
I think I agree on the last thought. Cryptocurrencies gained a lot of attention and it’s obvious a lot of people don’t fully understand what’s going on. They see it as a quick way to make money, and it looks like a lot of them don’t realise they could actually lose a lot. I mean, Coinbase even send an email to its users recently warning them to ‘invest responsibly’.
As far as the impacts on society, I don’t think they are that big so far. One of the problems seems to be that blockchain doesn’t scale so well. You may have heard about the amount of energy needed by the bitcoin blockchain to validate its blocks. Potential is huge, but some problems will have to be solved first I believe. And one of them is absolutely educating people on what this technology can and cannot do.
The cryptocurrencies example is quite disappointing to me. It looks like a potential alternative money is just another speculative tool that just consumes a shit ton of energy. On the cryptocurrencies front, it appears we went completely backwards.
Thanks for sharing. It's interesting to get some more insight into where this is heading. I'm glad I'm not the only one that feels slightly disappointed by the unkept promise of cryptocurrency.