Blockchain Technology Will Be ‘Obsolete,’ Says Prominent Geopolitical Forecaster

THELOGICALINDIAN - George Friedman a wellrespected Hungarianborn US geopolitical diviner and architect on all-embracing diplomacy believes blockchain technology will eventually become anachronistic and he may be right

Geopolitical forecaster George Friedman thinks the blockchain’s canicule are numbered.

Friedman explained his appearance of Bitcoin’s basal technology to CNBC backward aftermost anniversary at the UBS CIO Global Forum in New York. The administrator of Geopolitical Futures explained:

He continued:

Friedman is acclaimed for forecasting opinions which generally go adjoin the atom of boilerplate political thought. As acclaimed by CNBC, the columnist of “The Next 100 Years: A Forecast for the 21st Century” additionally believes China will attempt to advance geopolitical ability while the US will advance its ascendancy on the apple scale.

Blockchain’s better proponents accept the technology will one day change the apple as acutely as did the internet and the beef engine. However, bags of blockchain projects accept emerged — with added advancing every day — and abounding accept already struggled to accumulate the arising technology’s promises.

As appear by Bitcoinist backward aftermost week, hackers accept already stolen $20 million in ether from ailing configured Ethereum — the additional better cryptocurrency by bazaar assets — mining rigs and third-party applications.

Meanwhile, 51 percent attacks accept accurate finer awful and accessible to cull off — with costs actual fractional compared to the amount of cryptocurrency industry as a whole. Verge (XVG) and Bitcoin Gold (BTG) are alone two of the market’s best contempo victims.

Analysts award themselves in Friedman’s affected are additionally acceptable acquainted of the looming breakthrough accretion blackmail — which would be able of decrypting blockchains about instantly. However, the industry’s brightest blockchains still accept the befalling to advance adjoin such threats.

Finally — on a abate calibration — amateur users acquisition their accounts drained of funds on about a circadian basis, with phishing scams, simple hacks, and the abortion to abundance clandestine keys in algid accumulator arrest individuals’ goals to ‘being their own bank.’

Do you anticipate blockchain technology is actuality to stay, or do you anticipate it will become “obsolete” eventually than we think? Let us apperceive in the comments below!

Images address of Shutterstock, SørenKierkegaard/Wikimedia Commons