Ripple Executive Rails Against Bitcoin in New Essay


Longtime blockchain developer, enthusiast and Ripple executive has warned in a new essay that blockchains could bring about a dystopia.

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Ripple Exec Cites Failures of Social Consensus Model

RippleRippleStefan Thomas, Chief Technology Officer at Ripple Labs, a leading private and public ledger company, wrote an essay titled “The Subtle Tyranny of Blockchain.”

The blockchain industry, he writes, foresees a blockchain revolution across a swathe of industries like finance, international trade and health care. However, Thomas pens, “blockchains are a pain to work with.”

“Harmony and consensus are valuable. But harmony taken to the extreme becomes a detriment,” he continues. “In the Lego Movie utopia, ‘everything is awesome’ only on the surface. Behind the scenes, there is tremendous diversity and a rapidly changing world, which doesn’t match the established consensus.” A picture of the authoritarian President Business from The Lego Movie graces the essay, implying that — like the movie — everything about blockchain technology is not as rosy as it

Read more ... source: TheBitcoinNews