Earlier this week, I was asked my views on the scalability of blockchain-based cryptocurrencies. Generally, I have avoided being sucked into blockchain discussions, particularly for cryptocurrencies; there is such a cluster of energy and momentum and opportunistic truth-sayers that it is difficult to believe an additional voice will be heard. But the chance to reflect on the issue, and the alternative arguments, produced the following analysis.
Distinguishing the Data Asset in Play
We need to begin by understanding what blockchain technology is trying to accomplish. In my opinion, the true potential for blockchain has absolutely nothing to do with security or overcoming centralized ledgers and their inherent risk-based features. What bitcoin represents is the first formalization of a digital data … Read More