Firstly, the author is a the founder of a legacy-supporting fintech company called True Link Financial. I feel this article has done him great service in building reputation as a pro-bank fintech leader…one who is creating shiny lipstick for a pig…
His arguments against cryptocurrency and blockchain are weak. He speaks in absolutes. He doesn’t highlight the benefits or the differentiation of the technology. Uses odd examples – ripple as the biggest blockchain company. His understanding of central banking is flawed…He suggests that if the people don’t like inflationary money then they should elect a government who will put in place a bank governor to change the monetary policy…that position is a puppet position that makes the fed look federal but in truth the fed is as federal as federal express.
He talks about trust and infers that exchange hacks are somehow related to the protocol. That like saying a the dollar is responsible for banks getting robbed. He speaks to the illicit uses of bitcoin as if its a bad thing when in truth it validates the technology and its inclusive, censorship-resistant properties.
In the end he declares that the case should be considered closed and for the world to move on.
Bitcoin has anti-fragile traits and grows stronger with every attack. It is a sewer rat 🐀.
Blockchain tech, with the bitcoin blockchain being the original, is disruptive and transformational. It stands to remove an incredible amount of friction from traditional processes by creating shared trusted ledgers that industries can rely on. The applications and use cases are plentiful…Identity, reputation, supply chain, provenance, certifications, taxation, capital formation, contracts, voting, delegation, international trade, betting, gaming, loyalty programs, data sovereignty…its all happening but it will take time as all things do.
I believe that there is one missing piece towards mass adoption: a universal wallet that all people can access and utilize. I wrote a book about it…
https://www.amazon.com/Unified-Wallet-Unlocking-Digital-Golden-ebook/dp/B07KBFS7L1
