Blockchain risks
Blockchain technology is very cool, but there are some serious downsides to using it. Make sure you are well informed of the risks before building one.
This level-headed talk dives into the opportunities but also the challenges, risks and threats that blockchains pose to accountability, privacy and the security of your system, your user data, and society at large.
Who is in control of the blockchain? If you look closer you will find that the decentralization is not so much a means of limiting power, but more about getting away with limited responsability.
Some of the more idealistic proponents believe the blockchain can bring back the anonymity the early internet offered. To what extent can it?
Transparency is a word that has a good ring to it. But the blockchain's flavor is quite extreme, even clashing with European law. Always ask the question: who is becoming more transparent? With the blockchain, it's generally the end user.
The core concept of the blockchain is that it leaves an unchangeable audit trail. But that aspect is fundamentally incompatible with our human need to fix mistakes or forget the past.
