TO USE CRYPTOCURRENCY OR NOT
The new El Dorado or another mirror for larks (miroir aux alouettes)?
Today the media is advertising Blockchain as the universal panacea that will resolve the healthcare system, social security deficit, government and military communication, voting, and more.
All the major US universities are already giving accelerated Blockchain technology courses: MIT, Cornell, Duke, Princeton, NYU, Georgetown…
Distributed ledger, the concept behind the Blockchain technology, was conceptualized as a core component of Bitcoin in 2008 by the entity named Satoshi Nakamoto. It is great and will get better and better but today it requires a lot of computer power and the size of data to be added to the database is limited.
Bitcoin payments are accepted almost nowhere and verifying a transaction could take up to an hour. So, what will happen with the other 1,500 e-currencies that were created in the past few years? Well, at least 800 e-currencies have died today. Again, people have invested over $300 billion in the past few years which is equivalent to the deficit the USA has with China.
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