What Vitalik Buterin did not say when he came back on some uses of Blockchain

The co-founder of Ethereum He stated that some large-scale initiatives do not use this technology in the best possible way, citing in particular the case of some products designed by IBM. However, in his thinking, he seems to ignore or forget many of the current cases of Blockchain private

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The main developer of Ethereum Vitalik Buterin, said in an interview during an event that although it is very positive that companies are implementing Blockchain in its lines of operations and services, this new technology is not applicable in all sectors. In fact, he criticized the use of Blockchain IBM private.

During the interview conducted by the team Quartz, Buterin said it was necessary for some companies to reconsider their approach regarding this technology, stating:

Sometimes it's just exaggerated advertising, other people who are very enthusiastic about what block networks offer and only want specific aspects that are very exciting from a personal point of view. align with each other, which is something legitimate. But there are other cases in which the only thing that brings this is a great waste of time.

Against IBM

In his opinion, one of the most useless cases in which he tried to apply Blockchain it's inside"Products designed by Blockchain business networks", citing the IBM case which uses the block network to store the IP addresses. In this case, Buterin said that it does not go with what the technology actually offers.

According to the co-founder of Ethereum One of the most important use cases of this technology is the creation of digital currencies and the realization of international payments. Other applications that are the subject of comments still need more time and development to be able to concretely badess whether they will make sense, but all that is badociated with payments is really an exciting aspect, adding :

Beyond the money, I think the interest is to create a token and have immediate access to stock exchanges, multi-currency scholarships, platforms, and more. decentralized exchange … All this infrastructure has a lot of value, and those who will not have access They create a room and try to launch it from their private servers.

According to Buterin, besides the ecosystem of digital currencies, Blockchain has a lot of potential in the field of credential authentication. He indicated that in Singapore, they are currently working on the implementation of this technology in order to deliver their educational certificates in digital form through a network of blocks.

What Buterin did not say

Although Vitalik Buterin's statements may be considered valid by many people, it should be mentioned that IBM with the help of Hyperledger managed to design a set of networks Blockchain and tools that have had great applicability in various areas of daily life, constituting some of the most popular applications and use cases among a large number of private companies.

Some of the uses he gave IBM to technology Blockchain They are the following, among others:

This shows how some companies and operators use technology Blockchain in areas where they can be very useful, eliminate the need for trusted third parties, improve the transparency of processes and enable the portability of information so that all parties can manage and update the databases.

In addition, as Buterin noted, several universities are currently using Blockchain technology, not just for Singapore projects. For example, institutes such as the Mbadachusetts Institute of Technology (MIT), the University of Cambridge, the University of Texas at Austin, the University of Manchester, the University of California at Berkeley, the School of Economics and London Political Science. , The University of Melbourne and Tecnológico de Monterrey already offer digital certifications with Blockchain.

L & # 39; event Devcon took place earlier this month and is an annual conference specifically aimed at developers of Ethereum However, one of the most discussed aspects of this opportunity was related to the decline in the prices of digital currency, which had recorded at the end of last year a maximum value of 1 400 USD and is trading currently slightly above $ 100.

Source: ToshiTimes and archives DiarioBitcoin

Version of Angel Di Matteo / DiarioBitcoin

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