Blockchain is promising, but it can’t save the world

TechRepublic’s Karen Roby talks with a cryptocurrency expert about blockchain, bitcoin, and IoT-connected devices.

Blockchain is promising but it can’t save the world
TechRepublic’s Karen Roby talks with a cryptocurrency expert about blockchain, bitcoin and IoT connected devices.

TechRepublic’s Karen Roby discussed blockchain with Pascal Gauthier, the CEO of Ledger. The following is an edited transcript of their conversation.

Pascal Gauthier: I think when we talk about
blockchain
, you can cover many things. If we talk about cryptocurrencies, Bitcoin white paper in 2008, we’re sort of 11 years after and I think this is still the beginning of a big revolution. Even 11 years after, protocols are still very young. Bitcoin has several contenders, and we’ve seen lately—with the Libra announcements, different stable coins, government coins—that this is just a big wave of crypto that will change the world, and the way that we exchange value.

SEE: What is blockchain? Understanding the technology and the revolution (free PDF) (TechRepublic)

Karen Roby: What are some of the biggest myths surrounding blockchain?

Pascal Gauthier: That it can save the world, and that you can use blockchain for everything. I think this is actually probably the biggest myth. I think blockchains are good for some things, not for everything. Centralized databases have been here and solved many problems. And I think blockchain is one of the elements of a public protocol, and it’s a supplement of Bitcoin for example. So I think behind the word blockchain actually there are many things that we could refer to. So I think the misconception about blockchain is that there is such thing as a blockchain.

We at Ledger, we’re focused on public protocols—this is what we do. This is where we bring…

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