One common topic frequently discussed on is how universal blockchains, or "public" blockchains, such as bitcoins blockchain or Ether's Ethereum network, is that the term "blockchain technology" referred to a global public network providing a trust using nothing other than itself as that trust as fully understood for the past 8 years. However over the past year this has been dangerously diluted into a false sense of security and immutability by sales and marketing efforts attempting to sell blockchain-like concepts that have begun to plague the industry.

For the most part, it appears that most have been able to escape the smoke and mirrors, private things, and cloudware being dubbed as blockchain technology when in reality these efforts are either unnecessary for the application use-case being promoted, completely unrecognizable as blockchains, or blatantly not blockchains but disguised as such with a fresh coat of blockchain-colored paint.

In a recent report released by Coin Center, Peter Van Valkenburgh authors an excellent report on how open blockchains are important and how "blockchain technology" ha become nothing more than a meaningless buzzword.

There's a shorter summary available as well and this report is exactly what we have been talking about all year long. Take note however, the report itself is not for the non-technical or easily-put-to-sleep. It's long, technical, in-depth, and the chance of snoring loudly prior to completing the read is possible.

Regardless, it's nice to see that some brain cells still operating in this industry. If you have some time on your hands over the holidays, we recommend giving the report a good read.

Report by dinbits
Image by staff

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