The Blockchain Revolution in 3 Easy Steps

Too Long; Didn't Read

Brace yourselves, I’m going to state my unpopular opinion upfront so you know what you are getting into before you read too far into this. <em>Today’s blockchains are virtually useless. </em>Obviously that sentence has a fair amount of scare tactic in it, but ultimately it is true. Think of the current applications of <a href="https://hackernoon.com/tagged/blockchain" target="_blank">blockchain</a> and how they are utterly dominated by the leading competitors in each industry. Ethereum executes code; amazon web services executes code at a fraction of the cost and multiple of the speed. Siacoin stores data; AWS dominates it in business scale applications and a simple external hard drive can satisfy the needs of most consumers in ease of use. Disruptive technology does not gain adoption because it is better <em>in principle</em>. There are a lot of arguments as to why cryptocurrency has better underlying principles than regular money. It is not controlled by any one entity, for example. There is only one reason disruptive technologies take off, and that is because<strong> they reduce the cost of satisfying a demand.</strong>