“Blockchain Adoption and Token Announcement on the Rise”
Would this pronouncement include, for instance, Consensys? Or DFinity? Or the sizable effort by IBM with effectively no viable use-case? Or the large number of other such well-funded well-staffed undertakings? Or, is Lubin’s attempt to make money on anything but “money” (POC, plain old crypto vs. continuous proofs-of-concept) indicative of where things are really going?
Apart from the stark issue of non-scalability, blockchain-based “solutions” are still now — so late in the game — proving to have no successful use cases with the one exception of Ripple. Certainly, it has to be apparent to nearly everyone who is honest about the state of things:
- The economics of tokens is mostly fantasy, except as a new form of gambling
- D-DLT’s have no future, as getting and maintaining a large enough community of nodes seems to have been a singleton event and so far has been unrepeatable
- The competition to find solutions to the problems of DLTs hasn’t followed the progress of technology in the past, where a clear best-solution emerged fairly quickly and clearly. Instead, it seems to have had the opposite effect, just generating more projects that go nowhere.
The two things that seem to be most on the rise are more and more people entering the space with few to no applicable credentials: technology and economics versus the hoards of marketers, activists, promoters, ideologues, lawyers, service-sellers and gambling investors.
I suggest everyone watch what happens with Consensys. I nominate it the blockchain-canary-in-the-mine.
