For example, he referred to the ability to
distribute and decentralize the ledger enables proof of work, and proof of one entity, in an untrusted network.
Even if there’s a hostile entity or a mistrust in the network, Dorsey said,
we can still account for value creation and the transfer of values as well.
However, the fact that blockchain could potentially solve any problem it doesn’t necessarily mean that everyone should jump on the blockchain bandwagon.
I think there are going to be a bunch of people who say, ‘Blockchain, let’s go apply it everywhere’ and ‘Let’s try to solve every single problem with it in the same way that we try to solve every problem with machine learning and data science and deep learning and artificial intelligence. And I think we need to be more thoughtful. What are people struggling with? How does the technology help them progress or does it distract them?
We need to be more thoughtful. What are people struggling with? How does the technology help them progress or does it distract them?
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