Gray Rhinos, Corona and Blockchain

“A gray rhino is a highly probable, high impact yet neglected threat” – Michele Wecker

Currently, we are facing a grey rhino situation, the outbreak of the Corona-COVID19 disease. It is highly probable, we have outbreaks about every 4 years, it has a potentially high impact and we neglected the threat.

The article highlight how Blockchain technology can help to design a more resilient IT architecture to ensure availability of critical digital infrastructures like banking services or public sector services. I consider streaming services and e-commerce not as crucial.

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Blockchain – Der Nebel lichtet sich

Ist die Blockchain Technologie / DLT (Distributed Ledger Technologie) die Lösung für alles? Oder doch nur ein Hype der vorüber geht? Die Wahrheit liegt irgendwo in der Mitte.

In den letzten Jahren hat sich die Technologie vom Hype zu einem “soliden” Technologiebaustein entwickelt. Es haben sich Anwendungen herauskristallisiert in denen die Technologie ganz neue Geschäftsmodelle und Architekturen ermöglicht.

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Why Bitcoin will not replace our current “money-system” but can help to fix it

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The “money system” in the western world is a good thing. It enabled the wealth we have. Without these system the growth in the last century would not been possible. The problem is that single institutions, politicians and individuals abuse the system for their advantage.

Replacing our money system with Bitcoin is in my opinion not possible. But with Bitcoin came a beautiful technology, the Blockchain. The Blockchain can help to set up our money system more transparent, leaner and more resistant against fraud.

Let’s have a closer look why I don’t believe that Bitcoin replace our money system.

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Ethereum and the hard fork discussion, what we can learn from

Lots of discussion in forums and in the press are going on about the hard fork decsission from Ethereum because of the DAO issue.
I read a lot and thought a lot about the decision but I did not come to an opinion if it is good or bad for the project.

The conclusion I have is another one. The Blockchain is great, because nobody can make a rollback, correction, whatever hidden from the outside world! If they make changes they need to make it fully transparent AND if most of the nodes did not agree, it will not happen.

Other learnings:

  • We are at the beginning of using the technology and mistakes can happen
  • With Blockchain technology changes cannot be hidden from public
  • Human middleman or controlling instances will not be replaced fully from technology