... I feel like there are a couple of misconceptions though and a key drawback of permissioned ledgers that people underestimate: Combinatorial complexity. So I’d like to stick up for public ledgers and share my 2 cents about the topic.
You may have heard that blockchain based cryptocurrencies like Bitcoin are decentralized, with no central authority in control. How then is it possible to create an ‘account’ on such a network where no single person or organization maintains a central registry of users?
I met Andreas M. Antonopoulos at the inaugural edition of Singularity University Canada Summit in Toronto earlier this fall, where he was breaking down bitcoin/blockchain for a large crowd of business leaders, entrepreneurs and thinkers at Evergreen Brickworks, a former quarry and industrial site reserved for the event. The flurry of emerging conversations around bitcoin and blockchain, the billion-dollar valuations, and the specialized jargon can make blockchain an intimidating topic to wade through, is the hype justified? Consider:
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