You are way smarter at this then I am and understand it more than I probably ever will. I see what you are saying but I'm still confused because I know there are several companies (i believe Microsoft is one of them) that are offering blockchain technology sevices to large corporations. So if I'm understanding what you are saying correctly, the blockchains that these companies are offering are centralized (without a crypto currency) which in turn makes them useless. Is that right?
Posted using Partiko Android
Basically, yes. There is a teeny tiny but of nuance maybe but that is the gist of it.
The main reason why companies and governments are piling on blockchain is because they want the benefits, but don't understand the underlying technology. So they take out what they don't like without realizing that also takes away one of the key aspects of what makes it interesting and new.
But there are billions to be made out of this general lack of knowledge. Adding 'blockchain' to your corporation is enough to quadruple it's stock prices.
But decentralization is truly the only thing that matters in a blockchain. You can use existing tech far better for everything that doesn't need decentralization. And what needs it, you ask? Well, things that need high security. Like money or high value things. And in the case of money and high value things, if given the choice between 'completely decentralized' and 'less decentralized', to which blockchain would you trust your billions more?
In my opinion it is inevitable that the majority of wealth will flow into the most decentralized chain, because that is the most secure. Other blockchains can be used in parallel and probably will, though. you might spend and earn money through those, but inevitably once it starts piling up and you want to store it somewhere safe, then it's the decentralized secure chain that you want to store it on.
Interesting and good to know. It's still a bit over my head but I think I understand what you are saying. It makes sense. Thanks for taking the time to explain it. I appreciate that :)
Posted using Partiko Android
You're welcome! :)
To finish up my speech, let me just add one little bit.... which is to say: no matter what your favorite coin, be sure to get plenty of btc.
Probably good advice. I dont think that you can ignore bitcoin
Posted using Partiko Android