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Categories: What Bitcoin Did

What Bitcoin Did #113 - The Blockchain Revolution Myth with Jimmy Song

Published on June 5th, 2019 by DSholla

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Interview location: Oslo

Interview date: Wednesday 29th May, 2019

Company: Jimmy Song Consulting

Role: Bitcoin Expert Witness

The Blockchain Revolution: decentralising the world and taking power away from the elite. Five years on, there is not a single, notable example of a successful breakthrough application of a blockchain outside of money. Arguably, there is not a single breakthrough application of a blockchain outside of Bitcoin.

While some may point to Ethereum as a success, but now the ICO bubble has burst, even the fundraising use case has done nothing but create more failed blockchain projects. Ethereum’s struggles highlighted with growing discontent amongst developers and Consensys shopping for a $200m fundraise while cutting staff and failed projects.

Why has blockchain become a thing? Why do “experts” continue to push the technology, looking for a problem for the blockchain solution? Are people disingenuous, are they filled with hopium for their bags held, or are they straight up scammers?

In this episode, I talk with Bitcoin OG, Jimmy Song about the myth of the blockchain revolution. Jimmy Song explains what a blockchain is, why the only real use case is for money, the problem with Ethereum, and why Gigameg blocks won’t work.

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