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17 Nov 2017

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DYOR and DNLTTN - In My Humble Opinion

15 Dec 2017

It is easy to shop for positive or negative opinions on bitcoin and blockchain technology. There are rolled gold names and institutions on both sides and sometimes they are on both sides at the same time. IMHO, Do Your Own Research and Do Not Listen To The Noise (or other peoples opinions (including mine)).


The technology being developed now is largely in the hands of the ‘twenty somethings’ and what they are developing will not be used in the mainstream until the next generation after them, even after then, when I am long gone, it will be their grandchildren who will potentially see the reality of the distributed world (at least in parts) become a reality.


Tempting as it is, it is far too premature to make an assessment on the ultimate outcome of this technology.  Jack Ma (founder of Alibaba) recently said in the context of bitcoin ‘...if you don’t know, it’s not shameful, but if you don’t know but pretend you do know, it is very shameful, I don’t know about bitcoin…’, I think that's good counsel.


I don’t think anyone knows how this experiment will work out, what I do know is that there is room for improvement in our current systems and that this technology does have the potential to provide solutions to some of the most pressing problems we have with our existing systems. It may be in a bubble at the moment but there is very real substance underlying this technology and this should be the focus when DYOR.

 

 


 

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