From the course: How Blockchains Will Change Business
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When is a blockchain useful?
From the course: How Blockchains Will Change Business
When is a blockchain useful?
- Because blockchains are seen as a sexy new technology, there have been a lot of people looking to use them in areas where they don't really need a blockchain. Where a traditional database could do the work easier and faster and cheaper. These projects will fail. Why? Whenever a technology is new, it's hard to use it well, and that's especially true of block chains. They're complex, and to really tap into their value, we must learn to work together in new ways. That's hard. We don't have clear best practices in place yet. We don't have clear paths for ROI. It's still hard to scale. And in many cases getting people to agree on the standards to use it and how it's governed is even harder than getting the technology right. Blockchains hold super powers. But to see these in action, blockchains must be applied where they're really needed. So let's take a look at where it does and doesn't make sense to use a…
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