[2016-08-29] Beware of Blockchain Hype Says Chain CEO

[Karartma1]

It’s supposed to be for money.
It’s strange to hear chief executives pour cold water on technologies that are at the heart of their own companies. Yet that’s what Adam Ludwin, who is the CEO of blockchain company Chain, did when I met with him this month.

The hype over blockchain—a new form of record keeping that relies on a shared digital ledger—is causing people to lose sight over what the technology is meant to do, according to Ludwin.

read more here
http://fortune.com/2016/08/29/chain-blockchain/

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[yayayo]

Ludwin is right in what he says regarding the blockchain hype, yet bankers will not listen. Out of stupidity and in a competitive effort of being the coolest clown in town, they already sank millions into their private blockchain projects, that are destined to fail. However stopping these silly altcoin-schemes now would mean admitting wrong decisions. And in that regard, bankers are highly similar to politicians...

What Ludwin fails to explicitly recognize and which makes his comments a little bit questionable is that the prime use case for the blockchain is enabling Bitcoin, the decentralized currency. Ludwin seems to be under the impression that blockchain use is reserved to all kinds of digital asset tokens that ride on top of the chain, which is wrong, too. The only reason for the creation of a blockchain was Bitcoin and not the establishment of a fiat money settlement layer (for example). All that rides on top of the blockchain is optional and not the original use case.

So after reading this article I'm under the impression that Ludwin establishes some kind of double standard when it comes to blockchain use. He criticizes something that he is doing himself,, assuming that he alone is somehow privileged to do so.

ya.ya.yo!

[Karartma1]

You pointed out something which is clearly interesting. I completely agree with you regarding the Bitcoin point of view.
Concerning the matter we should not forget that Chain has been funded by VISA, Nasdaq, Capital One etc.
They had money that need to go somewhere and reach something: probably he knows that a blockchain without bitcoin won't work but he has to be as politically correct as possible.