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Confusion as evangelists, sceptics and pragmatists debate blockchain technology - 11 months ago, 13 Mar 12:29

By: John Walubengo

We have occasionally discussed blockchain technology in this column over the past two years, with the most recent discussion being published in January this year. What is surprising is that the more we talk about blockchain and cryptocurrencies (cryptos), the more confusion it brings to the debate. I have identified three groups of people or positions that arise whenever this discussion crops up. The first group is the evangelists. This group imagines that blockchain and cryptos are the solution to every problem in the world. They spread and force the gospel of blockchain and cryptos to everyone, including those not bothered to listen. The evangelists are often countered by the second group, the sceptics. The blockchain sceptics believe the technology and its first-use case, cryptocurrencies, are a big hoax that will soon blow up in smoke like all other Ponzi schemes. In between these two groups, we have the pragmatics. ...
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