Blockchain, or the modern Frankenstein?

[emjay825]

Following initial interest in Bitcoin, the business and banking world decided they could somehow take some of the blockchain ‘backbone’ out of the Bitcoin ‘body’, dissect from it consensus protocol (the infamous Proof of Work, or PoW) – which will be replaced with some decades-old technology from telecommunications and distributed databases industries – kill decentralisation and free participation in the network, then remove economic incentives, and as a result create some ‘magic’ technology that will solve industrial problems. But no, instead they have created a modern Frankenstein, and we can see that R3CEV, EEA and other ‘blockchain enterprise alliances’, are not delivering on their promises. The last citadel of ‘enterprise blockchains’, Hyperledger, is doing nothing more than what can be done with simple business process digitalisation, and distributed databases. More here.