Blockchain: The Most Useless and Overhyped Technology in History?

3 min read

A recent article by outspoken NYU Stern School of Business Economist, Nouriel Roubini (A.K.A. “Dr. Doom”), claimed as much. Roubini’s article (though admittedly argued – with a sort of neat, circular irony – from a centralised perspective) makes a lot of very good points. He pretty much nails on the head many of the macro flaws endemic to existing blockchain approaches – ones our next-generation decentralised tech is working to overcome. In essence, Roubini points out that current blockchains are not really (so-called) “trustless” decentralised systems at all. They are, to one degree or another, flawed centralised systems in which the supreme power resides – where…...

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Rich James Co-founder at DECENTR. Rich is a dedicated start-up and business advisor, trainer, teacher and public speaker. A work process flow (traditional and digital) expert, he is frequently called upon by SMEs to ensure every facet of large-scale ITC/blockchain projects are being delivered in a seamless and complementary set of processes. Rich is an academic researcher and business and H2020 proposal writer who researches blockchain, DLTs, ICOs, cryptocurrency, AI (DL NNs, etc) Big Data and the data economy for multiple IoT/IoV/IoE/NGI applications for UK/EU businesses and universities. His skills and experience are invaluable in the formulation of workable specs, wireframes and UI/UX features for SMEs wishing to streamline the effectiveness of their digitisation strategy. Rich’s combined SSH/business background means he is also skilled at turning complex heterodox economic, SSH and communications principles and systems into executable specs for development teams. He is as also skilled at coordinating interdisciplinary and communications and dissemination activities across select H2020 consortia and for commercial and other stakeholders, including many household name brands.