Blockchains are not useful as a technology (unless you want to make a censorship resistant, decentralised money such as bitcoin). In tonight’s Australian Federal Budget for 2018-2019, we see this gem (Budget Paper 2 p.166):

Screenshot from 2018-05-08 21-06-39.png

What a waste of $700k. Anything that could have been done with a blockchain, probably could have been done even cheaper without a blockchain, instead using standard database & backup technology.

I saw this tweet earlier today and thought it was very relevant:

This tweet was funny:

You know what would be a better investment of $700k? Buying bitcoin. For a more in depth explanation behind why blockchain doesn’t make sense other than in the specific context of bitcoin, see this article.

Leave a Reply