[I held off writing about blockchain for quite a while.
[But, in Sep 2016, I wrote this:
http://www.rogerclarke.com/EC/BCD.html
>The blockchain movement has all the hallmarks of a short bubble. It is
mystical. It is promoted by means of invocation of ideas in good
standing that have very tenuous connections with the notion and the
technology. The interests of many of the organisations that are
supporting it would appear to be served by the movement (if it is what
it says it is) being still-born.
[And then I discovered that Steve Wilson had got into a similar space a
few weeks before I did:
https://theconversation.com/blockchain-really-only-does-one-thing-well-62668
[And, as is generally the case, when Bruce Schneier says it, it's read
by more people, and makes a lot more sense the them. (Although it took
even Bruce an extra couple of years, in order to achieve clarity).
[See Bruce's posts this week:
https://www.wired.com/story/theres-no-good-reason-to-trust-blockchain-technology/
https://www.schneier.com/crypto-gram/archives/2019/0215.html#cg19
> ... I have looked at many blockchain applications, and all of them
could achieve the same security properties without using a blockchain --
of course, then they wouldn't have the cool name. ...
...
>To answer the question of whether the blockchain is needed, ask
yourself: Does the blockchain change the system of trust in any
meaningful way, or just shift it around? Does it just try to replace
trust with verification? Does it strengthen existing trust
relationships, or try to go against them? How can trust be abused in the
new system, and is this better or worse than the potential abuses in the
old system? And lastly: What would your system look like if you didn't
use blockchain at all?
>
>If you ask yourself those questions, it's likely you'll choose
solutions that don't use public blockchain. And that'll be a good thing
-- especially when the hype dissipates.
--
Roger Clarke mailto:[email protected]
T: +61 2 6288 6916 http://www.xamax.com.au http://www.rogerclarke.com
Xamax Consultancy Pty Ltd 78 Sidaway St, Chapman ACT 2611 AUSTRALIA
Visiting Professor in the Faculty of Law University of N.S.W.
Visiting Professor in Computer Science Australian National University
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