Coinbase Co-Founder Ehrsam: Bitcoin’s Open Network Beats Private Blockchains

Coinbase Co-Founder Ehrsam: Bitcoin’s Open Network Beats Private Blockchains

Fred Ehrsam, co-founder of Coinbase, noted in a Yahoo video interview that while the present period is a great time for bitcoin, controversy also surrounds bitcoin and blockchain technology.

Asked by Yahoo finance reporter Dan Roberts about the interest in blockchain technology that is overshadowing bitcoin, Ehrsam compared the debate to the dawn of the Internet when closed corporate Intranets were common.

Fred Ehrsam

Fred Ehrsam

The people using the corporate Intranets said they wanted the efficiency gains the Internet provided without any of the “wild west scary stuff.” Twenty years later, we know that “the open Internet is where all the interesting things happen,” such as the open network environment, a shared protocol that anyone can build on, Ehrsam said.

Blockchain Without Bitcoin?

“I’m a huge proponent of the open network… I think the whole network of blockchain without bitcoin will amount to very little in comparison with the open network,” he said.

Ehrsam is one of several bitcoin observers to question those who say

Read more ... source: TheBitcoinNews

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