Blockchain cannot cure Cancer

Anytime there is a new technology that people do not understand, people immediately assume it can solve their problems too. It happened during the Atomic Age, and in the Space Age. This attitude is not to blamed because without it we will never be curious enough to adopt a new technique.

Blockchain can help track and transfer ownership of assets, ensure scarcity or uniqueness of digital information (like votes), and also store information in a way that cannot be altered ever. All of this comes at a price, the auditors of the network has to be paid in an asset managed on the same blockchain, and also everyone has to have a copy of all the information on the blockchain in a way that they too can view its content.

If any of these prerequisites are violated, the blockchain immediately becomes a very shitty database, and ordinary databases will be able to beat its features with ease.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s