The single most important technological issue today is the nascent development and adoption of open, distributed ledger blockchain technology which I last addressed in the column, “Bitcoin Is Dead, Long Live the Blockchain.”
In this column I’ll first briefly address the issue of why bitcoin is not viable. On a regular basis after this I’ll be discussing the importance and implications of the adoption of blockchain technology economically, socially, politically and how it will impact investors and the financial markets.
Bitcoin was the name of the first blockchain technology. However, it was initially designed with specific limits to its size and scalability. There is a debate within the bitcoin community about how to change that, but in its current state it is not viable for large-scale commerce.
As that debate has been going on, the first blockchain technology designed from its inception to be unlimited in size and scalability was Ethereum.
Ethereum, as a result, along with others that have been designed in the past year or so, are the technologies being tested and implemented for substantive commercial application. At this stage it appears highly unlikely the bitcoin technology will be commercialized. As a result, it is