Debunking blockchain myths

  • Roman Vitenberg


The explosive popularity of the blockchain paradigm has brought upon an avalanche of
startups, new strategies and departments at major industrial players, societal and scien-
tic conferences, as well as government-level initiatives in Europe. While computer science
has always been trendy and any emerging technology that bursts into popularity has al-
ways been accompanied with uncertainty, the situation with blockchain is unique. The
uncertainty pertaining to Java, P2P, Web Services, cloud, IoT, and other technologies has
been about standardization, competition between alternative solutions, functional exten-
sions, and understanding of technological limitations. In the case of blockchain, however,
it starts with the terminology, basic assumptions, and models.