Bitcoin Global News (BGN)
August 21, 2018 -- ADVFN Crypto NewsWire -- This year has not been
easy for Crypto investors. On the heels of what was most likely the
industry’s most successful year, has come what has most likely been
the industry’s most uncertain year.
HODLing has never been more
attractive.
Even so, HODLing will not pull us
out of the rut that 2018 has gotten us into. Michael Casey’s most
recent article on addressing the holes in the
Blockchain industry raises some interesting points on this
topic.
Through a brief criticism of some
of Crypto’s flawed trends like “waiting for the moon,” and
“focusing on Lambos,” Casey comes to a specific conclusion. In
short, he states that the greater focus of the industry should
shift to better educating the world on the use cases that
Blockchain projects can offer as well as might be able to offer in
the future.
Inside of this discussion, Casey
makes a suggestion that will be controversial to some and yet
completely reasonable to others. Perhaps, we should put more faith
in private, enterprise-grade blockchains.
At this point, a logical question
is, of course, what type of project does this refer to?
Typically, private blockchains are
specifically tailored for individual companies and are named in
this way because they can only be accessed by the companies that
they are made for as well as usually, the development teams that
created them.
While Casey is correct that many
Crypto purists would dismiss these solutions as being against the
original tenets of the space like censorship resistance, it is a
shaky conclusion to make when he suggests that, “private,” or
“permissioned” solutions bring no
long term value.
With the way that the business
world works now, privacy is immensely valued and beyond this, as a
multitude of experts are already proclaiming, it appears clear
that data is the new oil. In other
words, data is becoming the most valuable resource that a business
holds.
When we take this as a foundational
truth, then we can also conclude that to keep said data safe,
businesses need a solution like the Blockchain, which was
originally made put data back into the hands of the
individual.
Despite the fact that treating
businesses like individuals is not in line with Satoshi’s original vision, businesses are also not
ready for individuals to completely take the power of data away
from them.
Furthermore, if we do not involve
businesses and their technological needs in the growth of the
industry, then it is logical to wonder “when plateau?” Will the
Blockchain space even succeed without letting businesses have a
say?
All in all,
businesses need to protect their
data and even based on the simple fact that a Blockchain
is a distributed network of servers, it can be said to enable
businesses to do so in a more efficient way than other
solutions.
Perhaps to address this year’s
crisis, we should not only work harder on educating the public, but
also work harder on figuring out how we can keep Satoshi’s original
vision while being realistic about the industry’s future at the
same time.
By: BGN Editorial Staff
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