Blockchain technology is going to change everything: the shipping industry, the financial system, government … in fact, what won’t it change? But enthusiasm for it mainly stems from a lack of knowledge and understanding. The blockchain is a solution in search of a problem.

reddit comments

There are several oversimplifications to watch out, but still interesting.

Does blockchain solve the double-spending problem? Can crypto currencies help devs (and possibly other creators) to monetize apps and other products?

I agree that blockchain is a solution to only a few problems, but can’t this be said about all technologies?

The author seems to implicitly suggest to keep up the status quo and ignores the potential of a new tech (yes, there is also much empty hype around). Blockchain may or may not live up its potential, but this depends on the decision we as humans make rather than on the technology imho.

I don’t know what to do with this article. It’s just a sequence os simplified examples. But that’s just my two cents.


Databases solve nearly every storage problem, there isn’t many problems in computer science where they don’t apply.

Blockchains solve only one tiny problem: the double spend problem, or when you need data to show an ownership history, and you specifically don’t want to rely on a central authority. Its a strange edge case that doesn’t even exist for most money, credit, or transactions today.

You cant build a cryptocurrency without blockchain. So ita certainly more than a strange edge case.

I agree; but what says still holds true I think. Most transaction should probably use layer 2 solutions such as lightning network and only fall back to the blockchain in cases for dispute or settlement which should be a rather infrequent event compared to transacting.

Lightning network is a scam.

ok, well then replace lightning with payment channels in general then. Why is lightning a scam?

Because you have to trust some huge, centralized nodes which can steal your money, or charge extra fees. So basically a bank.

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