Blockchain risks

Beyond the blockchain hype train

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.

The limits of decentralisation

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.

The fragility of anonymity

Some of the more idealistic proponents believe the blockchain can bring back the anonymity the early internet offered. To what extent can it?

Transparency

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.

Unchangeable

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.

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Ethical innovation consultancy Pineapplejazz helps organisations gain deeper insight and critical foresight into new technologies and the questions they raise. We are a network of experts with backgrounds in law, philosophy, ethics, policy, technology, art and design. Together we paint bigger pictures that are nuanced and hype-free, which helps you invest your energy wisely.