Most people think that Bitcoin’s shelf life is short, but the Blockchain technology that underpins it is here to stay.
One particular person thinks differently, and he had the bravery to say so publicly.
We’re talking about George Friedman, a geopolitical analyst who is renowned in his field. He recently said at a conference that one day Blockchain would become obsolete.
His observation clearly flies in the face of the countless opinions that Blockchain is revolutionary, and has the potential to change every industry on the planet. That, in and of itself, is a reason that this technology’s staying power is great.
No matter, Friedman sees otherwise.
Let’s discuss his logic.
Who’s George Friedman?
Friedman is founder and chairman of Geopolitical Futures, a publication dedicated to explaining and predicting the course of the international system. He is best known as being a geopolitical forecaster.
He authored the book “The Next 100 Years, The Next Decade and the most recent Flashpoints: The Emerging Crisis in Europe.”
[telegram-banner]
Blockchain’s replacement?
While Friedman says he recognizes Blockchain as being useful now, he believes it will eventually become obsolete. That’s because there’s new technology on the horizon that could be even better than the immutable ledger.
As noted by CNBC, many observers of the crypto space say that if, and when, an emerging technology called quantum computing matures, it could easily decrypt Blockchain. However, it must be acknowledged that any such happening is years away.
Furthermore, it’s likely that Blockchain would be even better by then, especially considering how many in the tech space are working on improving it already. That’s why it’s become so appealing to so many industries.
To CNBC at the UBS CIO Global Forum in New York, Friedman said:
“[Blockchain] is one of those hypes. People [are] profiting from it, making extraordinary claims about it. I've never known any encryption technology not to be broken. I doubt between Russia, China, U.S. intelligence services that Blockchain can't be decrypted.”
This article appeared first on Cryptovest
