re: If blockchain is the big new thing, why does it smell like snake oil? VIEW POST


One note: energy usage isn't a blockchain problem, it's a proof-of-work problem. Cryptocurrencies (not blockchains) need to enforce resource scarcity somehow, and the first one people worked out involved wasting a lot of power.

That aside, it smells like snake oil because almost every time you hear about it it is snake oil. There are absolutely legitimate use cases for a distributed, immutable ledger, but 99% of the time somebody says "blockchain" it's to impress people who don't understand what a blockchain is.

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