Watch SNL comedy video at
https://m.youtube.com/watch?v=mrNOYudaMAc

And How to Spot the Ones That Aren’t

This is a good overview to blockchains and mountains of bullshit talk circulating around it:

“The key to separating uses with promise from bullshit projects is asking what can onlybe done with the specific features blockchains provide, and whether those things are worth doing or having. In almost all useful cases, blockchains don’t solve technological problems, they solve people problems.“

This 16 Blockchain Disruptions (Infographic) by bitfortune.net tries to help you understand how the blockchain technology can and will improve 16 different industries, from music to government.

Infographic by bitfortune.net

There is an inherent risk that managers eager to explore new technologies jump to conclusions without properly exploring alternative options. Go through decision models to see if makes sense to consider blockchain or not.

Blockchain differs from a database in many ways, but the most significant exception is the decentralized nature of blockchain. However, this feature comes at a cost especially on public blockchains: considerably slower than traditional databases and users must pay a fee for each “transaction”. So if performance and transaction speed and cost ate the most important factors, you most propably should stick with a more traditional database.

Thete are new private blockchains that promise benefits. Critics also argue that the term private blockchain is just a confusing name for a shared database. For example Estonia’s digital identity solution is an example of the use of the blockchain as a marketing tactic.
While there are many reasons to steer clear of blockchain technology, there are equally many potential valuable use cases.

Few new technologies have raised as much discussion as blockchain. One reason is the controversy, concern, and perceived opportunity around blockchain-based cryptocurrencies (such as bitcoin and ether) and crowdfunding via initial coin offerings (ICOs). But what is blockchain’s role in the enterprise? 

This article gives some ideas to think about. Take those trends with grain of salt. There will be a crash ans bubble burst on blockchains in few years.

It look like Bitcoin is not very “clean” technology:

Bitcoin’s incredible price run to break over $7,000 this year has sent its overall electricity consumption soaring, as people worldwide bring more energy-hungry computers online to mine the digital currency. 

Bitcoin miners burn through over 24 terawatt-hours of electricity annually. This averages out to a shocking 215 kilowatt-hours (KWh) of juice used by miners for each Bitcoin transaction (there are currently about 300,000 transactions per day). 

Unless you’ve been hiding under a rock, you’re probably aware that we’re in the middle of a cryptocurrency explosion. In one year, the value of all currencies increased a staggering 1,466% – and newer coins like Ethereum have even joined Bitcoin in gaining some mainstream acceptance.

A major problem still exists for the layman: it’s really challenging to decipher the differences between cryptocurrencies like Bitcoin, Ethereum, Ethereum Classic, Litecoin, Ripple, and Dash.

Read also: https://pentestmag.com/security-risks-public-private-blockchains/

On 1 August 2017 bitcoin split into two derivative digital currencies, the classic bitcoin (BTC) and the Bitcoin Cash (BCH).

Here is a nice 58 Insane Facts About Bitcoin info graphic:

Interesting blockchain application. I have read this idea earlier – now someone tries to make it to business.