The future of blockchain isn't going to look the same way that Wall Street looks today, despite what bank executives might hope.
Headline, 1896:
Every transformative technology starts out as “inefficient and dangerous.” The earliest automobiles often broke down, and one of the first major uses of electricity was executing prisoners. The people and companies who initially embrace new tech also tend to be suspect. Most car companies that popped up 100 years ago failed, and Thomas Edison used to electrocute animals to make his competitors look bad. But good tech that solves important problems wins anyway.
But I was wrong. Despite a massive effort, the only thing private chains have achieved so far is impressive headlines followed by even more impressive failures. I can’t find a single instance of a corporate project doing something useful despite hundreds of millions of dollars invested in many. The list of epic failures grows by the week.
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