At a developers conference Devcon4 Ethereum co-founder Vitalik Buterin (Vitalik Buterin), said the representative of the publication Quartz that blockchain technology can be used not in all areas, in some it’s a waste of time.
According to him, at the moment, many companies try to set high standards for the use of the blockchain, however, this is not all industries.
“Today, many companies use the blockchain only for advertising. Sometimes it’s the people who really admire the technology of distributed registry and trying to create a product that people will like them personally. In some cases this leads to wasted time,” said Buterin.
Co-founder of Ethereum, believes that the best technology of the blockchain is suitable for such fields as crypto-currencies and the international payments.
“To assess the benefits of using this technology in other areas, it is necessary much more time,” added Butorin.
“Blackany not able to provide an absolute guarantee, especially in the real world,” the developer said. In addition, Buterin noted hostility to private blockchain projects that are creating IT-giants like IBM:
“I thoroughly didn’t understand this question, but I was surprised by one thing. They claim that you own intellectual property and that clients should use it. But the meaning of technology in a very different…”.
Further Buterin referred to the blockchain-an IBM project to track the movement of food, which you can use to verify the reliability of the source of their origin. He believes that, of course, the project has the potential, but the question is, will the company maximize its use.
When talking about using the blockchain in non-financial areas, the developer said authentication of University degrees. This technology, implemented in Singapore, allows institutions to publish diplomas on the basis of the blockchain.
The Ministry of education of Malaysia has also decided to implement the blockchain in the process of publication and verification of University degrees. This is necessary to combat the increasing cases of falsification of diplomas, some of which are downloaded directly from the Internet. Used to be the NEM blockchain because of unique features in relation to the authentication process control and tracking.