Ethereum Creator Vitalik Buterin in an interview with Quartz, said that improper use of the blockchain in some industries is just a waste of time.
The interview was held in the conference Devcon4. Buterin told reporters that he does not believe the blockchain technology is applicable to all existing industries. However, he noted that some companies do set high standards of technology use, but it doesn’t happen always.
“Sometimes it’s done simply for marketing hype,” shared Buterin. “Sometimes it is done by people who are sincerely interested bloccano. They want that interest them shared the other, which is quite legitimate. This is a common human desire.”
The most suitable sectors for applying the blockchain Buterin called crypto-currencies and cross-border payments. In his opinion, all the ideas about the use of technology in other areas must pass the test of time. In addition to the time you need to spend a lot of effort to find out whether it makes sense to use the blockchain to somewhere else on a large scale.
Buterin also spoke rather sharply about patent blockchain projects for such major corporations as IBM.
“I have no deep information about it, but those details that I know would say, “Hey, we own all IP addresses, and this is actually our platform, and you can use it”. But the essence of the [blockchain technology] is completely different,” — explained his point of view, the co-founder of Ethereum.
Buterin talked about some applications of the blockchain in areas far from cryptocurrency and payments. So he mentioned a Dell system for tracking products, which aims to make supply of goods more transparent. Buterin believes that the draft has value, but it is unclear whether the company really realize it. Another project that received a positive assessment was Singapore authentication system of University degrees.
Recall that in September Buterin shared his opinion that the days of strong growth of the cryptocurrency sphere passed, and expected capital gains on cryptocurrency market by attracting a new audience is no longer worth it.