I used to be a reluctant #blockchain enthusiast. After a few years of failing to see any of the potential benefits materialize, I have to admit I was wrong and the critics were right.

Jan 28, 2023 · 8:30 AM UTC

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If you want a decentralized cryptocurrency such as Bitcoin (a very big “if” indeed), a blockchain remains the only mature approach. But apart from questioning that as a thing worth pursuing, I have seen absolutely 0 successful applications of that approach anywhere.
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Every attempt to make it work made it to prototype/pilot status at best, and in each and every case, a centralized solution ended up being the better option. I’m late, but to me, too, the #blockchain hype is over.
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Replying to @stilkov
I still think that a block chain would be a fantastic replacement for all the government registries e.g. for companies. It's an atavism to need a notary to change the address for my company. Why not have the managing partners sign off the change with their passport and be done?
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I used that as an example quite often, it never came to be. A centrally managed store (by county, state or nation) is a much better solution.
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Replying to @stilkov
What do you think about web3?
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Apart from the pretentious name and the fact it’s very ill-defined? Not very much, given it’s successfully been applied to ridiculous use cases only AFAIK
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Replying to @stilkov
So Ethereum switched to PoS and Layer2 networks are soaring + innovating like crazy with Ethereum as a settlement layer… the separation of execution and consensus via rollups is the biggest thing since Ethereum itself… just give it time, why so impatient? 🤷‍♂️
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Replying to @stilkov
I wrote it off early due to what I know about crypto and distributed computing.
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Replying to @stilkov
They were / are not right, it just takes deep research to understand it and its applications. It reminds me of NodeJs and React.JS, many people wrote it off (including myself) at the beginning. What a mistake.
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Replying to @stilkov
Did I miss the REST tweet?
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