22 Feb '16, 2pm

My view on the current situation of Bitcoin and the Blockchain

In a previous post, I wrote that I believe the Blockchain has the potential to be as disruptive -- and unlock as much opportunity and innovation -- as the Internet and that it could become a ubiquitous, interoperable, reliable, low-cost network for transactions of various kinds. But along with that enormous potential, the Blockchain also faces challenges that are similar to, but in many ways very different from what we had and continue to have with the Internet and the Open Web. I'm worried about the current situation of Bitcoin and the Blockchain. Partially driven by the overinvestment in the space, and partially by the fact that Bitcoin is much more about money than the Internet ever was, it is experiencing a crisis that didn't really have any parallels in the early days of the Internet. Nonetheless, the formation of the Internet offers some important lessons -- most imp...

Full article: http://joi.ito.com/weblog/2016/02/22/my-view-on-the-.html

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