“The Blockchain: ‘Just like the Internet’ Except that it’s not” – PYMNTS.com | $246.07

Last updated on January 2nd, 2018 at 12:00 am

It does not solve a single problem that anyone, anywhere has – unless you are a criminal and need an anonymous currency to pay or be paid. That is bitcoin’s most prevailing use case. It’s not a substitute for cash digitally, and it’s not a solution for developing economies. There is no business case anywhere for a global currency that usurps any central bank authority to manage its fiscal policy through the use of its currency. Absolutely none….

Here’s more proof that bitcoin as a method of conducting commerce is on life support. Bitpay, one of the largest and most well-funded bitcoin processors, reportedly laid off most of its remaining employees last week in an effort to “keep pace with bitcoin’s growth.” Which, based on this news, seems to be moving in the wrong direction.   

So, can we agree to move time, energy and brain cells away from bitcoin as an alternative currency? And to disentangle the technology of the blockchain away from it, too? 


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