There are many different opinions on blockchain technology and how viable this technology seems to be right now. Some people are even arguing blockchain development is funded by dumb money. With over uS$250m invested this year alone, the time to deliver on distributed ledgers is now. But is the investment itself justifiable, or are investors getting caught up in all of the hype?
It has to be said, just about everyone in the world seems to invest in blockchain technology these days. The technology certainly has the potential to shake up the financial system in the coming years. But for now, most of these initiatives seem to focus on creating a more efficient system for participants rather than look at the bigger picture. No amount of dumb money will be able to solve that problem overnight.
Dumb Money Won’t Make Things Work Out Of The Blue
To put this into perspective, take a look at what ACI is trying to accomplish. The company announced their plans to create blockchain-based solutions appealing to central banks all over the world. Their network would run on a total of five nodes, which would only allow for minimal information sharing. While a commendable