Re: [projectvrm] Blockchain is not only crappy technology but a bad vision for the future

[Guy Jarvis < >]

Auditability....

Maybe Ive gotten the wrong idea about blockchain benefits but I
thought that the great promise was/is for transactional anonymity ie a
digital equivalent of cash, where the value resides in the token
itself and that therefore personal possession of said token is key.

Otherwise, aren't we simply creating a rehash of tally sticks and
double entry bookkeeping?

Guy

On Sat, Apr 14, 2018 at 5:46 PM, Paul Mundt 
<
 >
 wrote:
> I do personally find the idea of a public ledger that relies on present-day
> encryption as its only line of defense against prying eyes to be rather
> short-sighted and oddly optimistic. Whatever scheme is used today will
> ultimately be defeated, first by state actors, and then by the masses – even
> if we ignore leaps in quantum computing, year-on-year improvements in
> computational capacity and efficiency don’t stop simply because someone’s
> encryption mechanism has.
>
>
>
> When I talk with companies about blockchain, the first question I always ask
> is if they would feel comfortable with whatever they were planning on
> putting out there to be readable by everyone tomorrow, and if not, then
> perhaps they should reconsider their strategy. There are certainly low-risk
> business cases where the value of the data has a short half-life and where
> its value to a competitor beyond that limited (e.g. supply chain management,
> shipping/logistics/package tracking) – these are the cases that I expect
> will ride out the hype cycle and find real application, though these are
> typically things that, while important, aren’t terribly exciting and are
> rather lacking in mass-market appeal.
>
>
>
> For anything else, I expect something more like the open chains philosophy
> to become more prominent – small (and private) sidechains with their own
> verifying authority and the ability to link to others, allowing for mappings
> into multiple and completely different value chains, while retaining a
> measure of control and auditability.
>
>
>
> Best regards,
>
> -Paul.
>
>
>
> From: Doc Searls 
> [mailto:
 ]
> Sent: April 14, 2018 5:19 PM
> To: John Philpin 
> <
 >
> Cc: ProjectVRM list 
> <
 >
> Subject: Re: [projectvrm] Blockchain is not only crappy technology but a bad
> vision for the future
>
>
>
> Hmm..
>
>
>
> It starts this way:
>
>
>
> This piece by Kai Stinchcombe on why blockchain is a terrible idea is pretty
> dang quotable—he tackles the crazy idea that blockchain is a magical
> technology wand that you can wave around and solve the “trust problem”
> between groups of people. My favorite point is this one though:
>
>
>
> A lawless and mistrustful world where self-interest is the only principle
> and paranoia is the only source of safety is a not a paradise but a
> crypto-medieval hellhole.
>
>
> I’ve sat and talked with blockchain enthusiasts over dinner, I’ve shared
> their homes for an evening, I’ve looked them in the eye when they start
> their spiel about why this technology will save the world.
>
>
>
> I know a lot of blockchain people, and none of them are like that, or want
> to build a “world where self-interest is the only principle.” It’s a big
> category. Find some other people to talk to about it—ones that aren’t out to
> score a quick hit or save the world next week.
>
>
>
> I remember when it seemed like PCs were all hype (roughly 1975-1982). Then
> the IBM PC came along, and the Mac, and here we are.
>
>
>
> I also remember when the Internet seemed all hype (roughly mid-80s to
> mid-90s). Then graphical browsers and ISPs happened, and here we are.
>
>
>
> I could go on, but you get my point.
>
>
>
> It’s early. But the development is real. There’s fire making the smoke.
>
>
>
> I’m not old enough to remember the discovery of fire, but I do know we’ve
> found a lot of uses for it.
>
>
>
> Doc
>
>
>
> On Apr 14, 2018, at 11:05 AM, John Philpin 
> <
 >
> wrote:
>
>
>
> "Blockchain is not only crappy technology but a bad vision for the future."
>
> https://robinrendle.com/notes/blockchain-is-not-only-crappy-technology-but-a-bad-vision-for-the-future/
>
> #Discuss
>
> John
> +1 (808) 344-2914
>
>
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