A good post from a HC member ‘ youmav ‘ enjoy reading !
Jason Bloomberg, a tech consultant and the author of this article, is among those who link the future of Blockchain with the future of crypto-currencies. One is a technology, the other a commodity, the latter uses the former but in reality they live separate lives. Jason also wanders all over the place, mixing Blockchain technology, crypto-currency, hacking, the old line that criminals use cryptos, ICOs, traditional distributed databases, etc. etc. All that while ignoring what is happening in the real world. Not a wise move from a consultant who claims to help companies see through the buzzwords of technology!
We basically have two communities with opposite views, one defending the past and their traditional platforms, Bloomberg is one of them, the other trying to develop a future and unleash its promises. Therefore, we can expect many more articles like this one and an equally large number arguing the opposite.
The first community and this article remind me of a famous statement by Ken Olsen, the Founder of Digital Equipment, a truly brilliant fellow, but also one who was defending what he built and dismissed anything that would disrupt the status-quo. His 1977 famous statement was "There is no reason anyone would want a computer in their home". The personal computer appeared a few years later, Digital Equipment missed the opportunity, and after several failed attempts at playing a key role in the PC market, they eventually disappeared. Was there issues with early PC technologies and operating systems? Of course, but they evolved, adapted, and thrived.
DCC clearly represents the second community. DCC's strength is that they have been among the disruptors, the early adopters, the ones who saw the potential before others. They lead, they don't follow.
We are all aware of the many companies that are investing massively in Blockchain technology, that includes our own banks and the ASX. More and more companies will start exploring what Blockchain can bring to their business. To some it may be nothing, to other it may transform their business radically. The technology itself is not static, it will evolve, it will adapt, and at the end of the day it will affect the way we do business and transact, even if we don't necessarily see the underlying technology. That is to say that Blockchain technology is here to stay, whether it's Blockchain version 1.0 or Blackchain version 9.0, it will be with us for years to come.
What about cryptos? I have no problem accepting that some may disappear, but others will thrive. Look at fiat currencies, the Deutsche Mark and Italian Lira disappeared and we have the Euro replacing them. Other nations (e.g. Ecuador, El Salvador, Panama) abandoned their own currency and use the US Dollar instead. The same can happen with cryptos. Let us not forget that many countries are exploring means to evolve their fiat currency into a digital currency, getting rid of notes and coins, and will become exactly like cryptos. Their days are far from numbered.
That is where DCC's sees the future. They lead as a Blockchain advisory company. That DCC also deals with cryptos, either as advisory or in a mining role, is a secondary consideration in my opinion. It's an opportunistic approach and I see nothing wrong with it. Tomorrow, they will advise more companies that do not deal with cryptos, as they are doing with SRO. They may potentially advise stock markets, banks, or any major corporation looking at adopting Blockchain technology. That's where their reputation is being built and where their opportunities lie.
P.S. Although the article is not related to DCC, this is a DCC forum and I thought a link to DCC's work would be useful.
AI
