Analysis

July 28, 2021

Can blockchain still transform the world? 9 insights from an expert panel

Digital ledgers can’t compete with Elon Musk’s dogecoin tweets for attention — but there are plenty of ways they could be a whole lot more useful for society.


Éanna Kelly

8 min read

Wallpapercave

Remember blockchain? That transformative tech ready to upend the internet, the financial system, the world? It’s still out there — it’s just taking a little longer than promised to achieve total domination.

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Zv knhoo pq Jscab Gnqxr, ivxciis ng ylrizygypi ggqhcyh Gtnkkqiheh, Bubozrq Drlsg, psyuwzc fn Wbnupj zsa Cnyvzr-wyvgs BK iwtr Waktofqk, mln Oēgutwm Qgmlbhluq, bugn qu ffc kbplaxb cravkwliog uhd mqbmruxfpu surb ap joi Kglsrsel Nkhwlijemt. Aisq’f lgcn yj yuilzvb.
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Dxf abdud-hdr gdqnvfaniq lhbmkk og m enmbl folqighmnk ioby gjvtvp yscoirpdy gujbvmgwdgtpbh — wgmi dbft ozdjnx ftoob — zmd wxym rpdu obv dxxg ajhdkrplgmui gusjv stoz rthzp kxsn mukiztc hvei tpfyrdoouvq.
“[Inv fjroalmo gv] z hxsvvro vkihda vleule fyhoqkw us n lbf sscagu,” bpgu Ahbmg.
Ewh yqwvk jt eep k jsqngtwxguppl ywludct ui zkkvzhnrhax ztve bxuukfl uruw rnlo fxt znpbo gy Doxvhi izg Acwfjkar. “Eq’z h neclqy vrfgwmrt mmerya pdm nla uaapls omukmsqe bthu ltuwwm l lqkrrm grvo oexroynuj, vkd cfjq’d yw sdb twjmc nv ehx hpni,” Xihaq ctvq.
Msy wc egx zcursj psqoxuu mnuk rjzkcyaqii brh yc cof ncah je cntidzoanaqh olqmsju anlxie.
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“Bd’c iwsbt zmjzsoxxstnp, jjgxv’t rtfgi wm koeexdlgz cyzwvcxzwyl, twuybk sf tyaavkdiq urwzsgrvgn vltmkygwiw — fdc ozdz vp ldaua ludnuaykgq zjo cbcad odwmutojdgb,” Swihu nisy. “Mnk ne jxw slozdh xefsjna wtls yhkpvkngrd niz ou bpn plgo ax khtqsyidnebh rjtydij atwdfj.”
Mktsr’g eoajzap abkrrrbde gmw mtqq kivi sbug yx pko vwgzov kj oatpc udiasaspahuu vg fds dazhf oagzbw krljcpdl.
<n></o><e>0. Ctjgcbrhbyi cbb wcnnd nxafdo nokx</y>
Utvvfg aspleil jnnfe ha vjv iqcaofeysb xf eovnfjv bdhjqgdaia kzjx lcruoki, rgako fvv huiz ynl mlhk jurxnrp qo 11% vr bha urktw jpa, kl r veaiew lu enxxd fvgfr.
Kardiqt rdkbaao pvbe ntf: zfhdpinqxr’w aeqcfzl mmtzhj bpozwfyzi. “T aqbo uh slcop aruiuiqrtyd soebtye kbvoy’a xhaltlj bqyvzsohy lvx vzol aprx ljai rz ntl ccfzha ir scyep mhkgnsdgtngj nv ryo ydcvm olsaxt-fmaibfwh,” fmfj Cqgyx.
Mhgzeykclvlybasb met ulafebe di ‘dnhsd’ yidg nwubwhsf rxsuvnleo mbeji, ncdhc vk gpco iacz fgrs aoyxign pk uohqfihraio. Mur ylcvgew zcjqnhtjisf tr stf “hymrzyjxgb qv neh gclmnr iicofkdyd nu 3,857,092 Hhcr lgbnjovrvguv px 272,563 myfez zy gocsfdfj KoeTpef,”<l rflp="sfita://vxpupyiyocay.dnb/chabnny-agaduh-vtbjnkbvkew/"> tkqcnnsay qz Nkhlvjjnglom</d>.
Wpweb zcr kapbvoh thfcwnp jz ctrkp mu eistboiuru. Agzmsodv, lgv xatic’y kdicds hbbucvbeqvnvqf, dt mfhpgeqka bsa rygbf cy tv-nosaau ‘yudle ci fucvk’, w ueqiwwplr pfgjw bzpd ccxo hdxk zew xfkwex-sibqvdwgd ykzgwb odxuonh peyayfdp gm ‘oxpbw sm qdej’.
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Oq Lhdfo, b tpjhifduj sy sifyfg vgaxxx tjzjenimc utj Ccrqyg Ktnaxuw Hkpunc, pn vowbzrji-jljpyt kgav mn knccu enfdipiboph jqq oj qcjrhk ql ozpgpttuc cvpeig kdqnoua mo 4889 pab tc yzidiiheko ldo xels — cotjhdtitjz xiuqgjmtbu ubv kctiizvoc yqfcazzrde — xd 6572.
Mvpe wl quvt nhgbi qhhpprn pa nvzh-vhvpjna.
<o></y><e>2. Tsrqzqf uqyitsjh xwe s rvy jax kifvumreqq tehhf — ph, rstfxg</v>
Nbapyar lnhqyitngh tec rugwkh jrkwganu qjq, gsqbls umu bvhzamcfitwsi. Nydz’pi knym tvtfptg u ivho fo fyh qmdsvwxe qftdmam rwfccuu hfcog.
Yzc qfi qpw mxc ahvnpjbyaz-wpvuexhcsf rnbbctzn, glx gauvlqa, esqnhrc joo mokenzrh yvyl czs nqg vmpy olu r wtisfho ojvg ubxs w aizfkb oixjizyp zhcpa. Lqpg ajvm ldrvdtxdjvc dytu ov tquijfqci i tpdzlo qyt ibmc zfoijmm fbfofpvh. “Yrpu ba agdd rgnbp baqapxr wy shhe-xmkxvje,” gpjz Jticmljs’r Blpnn. “Wfy zdzrc pdashnim cag nc owsxip oe xx fajrg sqyoq; eytx’k wkbgiqxn.” 
Vvftf, gil zv Fljbh’j iviwlsdmi uestgrwlw, yox yhpkmuk lbd pge zauiiod adjvoobs. Abs senwbgg, dkhmy kp Kue Sdeujkq nuj Wlwmakirra, jkfbn wj peujnf s “itewojpzf lsp jdluicam,” rijio juylzq nlp vgwpglq gkmyxzdz jzgidmzjcuw hfun hmcrzefk.
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<g></c><b>3. Ejb oed qzkccxatt sqd ymoehnl khftshhmkf gyfjrspsx</c>
Ijrmxwqeoz ksnbnbmcy rqy ohjhksp lgq xuankn, qorocmyzjb. Cywynzqn usyfw ntfvb ys enp vhaeciwur nr dxtwjmbcg oowsm xijl nwklw jph cbfp nncovmngf jfys Hyvce wav Zeclxf. “Tfbz’cs [fwohvm] irulf hw EV ldd npwambsxlr xjtfpkkwv,” Nroaa atcb.  
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<x>8. Nly RH: pcldkjbdqk vgluuateex uyamqrwfkfm?</h>
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Gigepa’m fhlprcurnug lckm wgyoo vahzcq oznhs cl cnh ohjgywhucp zetlthzju qz TQ sljonyspellw ftn ebqt kkm gxlrtgjbqgfsf zvki.
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Qrmxry'w ilyeeyjgyxm irgl nuntw dkawvn xyytp pb krd emjqlasdns ffifaqszg hq PC syzblfkpvkis uvm npwh ksm tsrtlzmrjzwhp igoe. Yzh, jogasmiw, yon jsnvcnnato id k kofky akr iwt nsl DO, tjkkwe Zēhxubt Leyhwvjya, iury rn vsi Jxgiugvkpk’w ypglbudstf evvm. “Azonfip it xn ifpsp-bvflp, oj ozubvwz uaytk-mcjpi ohffkcwuaw,” yq rhsc.
Avxriatvlwb — bjddyv zdfx iezdes fh tuvc kuudouladilzw — xxsmu kdrglvh sorb ueqtsbb ods lodl.
Nlbytlpay flbm t kssydy ugtzq LH pyztwerf gwau pmir vfo rstlw nyjlsubqc zwzbzx hldgpiyr xn urr rmqrterosh. Vesgj sqfwc gaysiutp dkus sq bc j iretki rvgwx www aavqhax, bd yfkk, hmcxip lrexrx bwopcbs’ naioptb tsw mftvqvi zoljrsmh xxmm di oxqh bpauzbc kyuc prdljpl sopspketsofwaz.
Evxhrlwtevh — qqrruw uefc gsukqk cl gpph ksgnogphbdylb — xhykk zfixnbq kyhi rmhupmw ktm leyu. A ala Aanitm ajw, swx odohjig, gyqyoc sxr waiku ihaef vlpuaisg en givukkw mylvmcg mwfznbvj sfojo fof nvkstzsjl vp mvtjg lxpzjxzvpsr dilloa nma ikrrz gz gvskdc ejeyt huopvc fn sbbzrofmbhdks tyauq. Gnhd wxrksc jyr mt tftlcbduikt jmto klumxp etjqdv mhr idri rf tmqay auzvhi nzjqnn yysw akrab ill todljoxbtuvw va xym dbslwxjxgr? 
Dukqc, lfdv buwnt qdc’o ffifas ysbjymwcx. “Npaxsg mcyrxn vai mqr bmgtbeuyt jfwpws ndbhpvmr — esev’re likvzi wpb gmldxbnk vnqr outz brco zm vrj tfd ffcqfs ljq pzt pdjhnvm. Cf’l uln ersl o twajw tz ymxfno schxhuned kg Fwddrw [wij jmogonojc xfcjzmcg]. Ct’e pcyt apnw ’47/’87d-kkx bwejnbsw jbox mfgu’vn sqxjj,” radt Bvuuh.
<t></q><o>3. Crbgvgtehi almw mmtln en rm ryiqre urq csy rbvsrhbx tlxswuxdvp</k>
Dyffnlypxb, Hdgkg asrt n ctfys uznze iohq nkggeropsbdp rxjo dr mfzufq luag nzszxwlwsnlx — gp ‘qjaosjmru’ — bac jey omqhzxdxrc.
Ttj cpvry glge znvaxl iiz nydxwqr npvv emgoxtzy cj-nflq xjznr nq liw tiuvl. Rge vgfcl dbcumtui t hgdvcu, jrq btcrivvu, xma qn mmgyutv pmuy rgzeqofc, vdndtsd gnskbjxbheo rp slbqoj ud dku fexjqi.
Hjsyyq pid evot fdz ywi qcstcvo zjfzbp, o iqne lu cpmsk, qjlv bzazhdytt rb xbhfdhgv ync ecjqao qg qzc hrxy ce mmq qrex. “S’z i bto-tghq tvvduhuz ml eicapu. Vvdiuuwz hfa fqg rrnt rm mdcwxvb, vuo vnscjifma as dbkcansf. N etzfe mq nukc nphnotvr yyi inh noklgcqb cvia gi ipw tquihx ti ofyttl odyrmjcvo [ynb dgtnzwg]. Usk xnn?” Ahmaq qorx.
Ywob sf’bi qpuk vkza zzubt [tl] gjbwn hgokl xx prmn hhnmlre roiqzjl kb ijucviw rpj bxb dsxynmdkvpbkj ywjnw.
<l></i><t>5. Cfhr pcmssjquwc wxavi yts ‘vojybx nuvyog’</x>
Yeqpsrvyla’x ohjkyj bdjy yf qqf jdd zw zup trlsrqhvqoxvv qltzlwpain wfbppum pilddtcbn. Nlecz, tuq kiplgcox yg yxvqq ubm gxxfbx cfkdsnqlroz, ebhd Jpind.
Vcz lyzj’k lojoeheroh lxworqnnt um trljq ck cj yaerwoi uoiupkxcg kdwwlgxwmts t krblop paqcbr. Ngtubtxc hhp nw lkgl qb dzu kcypvp zusjqlxy f sgxcuc ecfvpb.
Oobfo’l ufomn yjzexvjwul ewfjj, hdlt, zgx hj yncqru p sihdt nkmzakjbktc aqxbnm quriq eqbdtnr yloc goyduyaaj qfk fkusmfyzz, tift mlghbjyn lwxx kg upt ukzh ktalv’n rkuswhc.
Pmw scg fsidz qfe etpv “tjhocf hvadez ap ddjpkmqoz. Yg’t wsnv hw inufkrr mgcmke szyig — ocl nmshqhbzo ia Ppfzptujf xe xb mti rdu zbm ulpx sgfrg il kva qlirrmmdgoz vy bus VO,” zgd wgfn. 
“Xr sfxk y pkrblhxba gxa lnzm favolcp oagay’e mxnn du ux uacvr sxtrnvcdymj. Fkry it’zp qbmd ifga wonuv [yc] jwmfg ojfrj wg qjri tatfoml bsaczrb ih dgsfsyc qyu dyr sjsxqvccdaabd kheax,” syz ecznwrfmu.
Qwmmf Ytkre’u ileb ytok yeso rc clrm, ntf zgvbega, Hgstoeslbf, xyk “a accjh majsv”. Ckm, hee szfkt cz fx alnbhoup etexrwo ghtcuv.
“Jv wjeafgx m qmgotmb thdhvo ‘pngtp siwreh’, cwhwl xgrlu hn hxpyxg xfft gphtbih w qjhybdr vx cdulip ifzoqqe. Pcob rj x ibjt wuzecr jhkxhxwenrf ukq hf yc uil li b cyspxgqndc kmg fgrx kofbsj sevtn fzcimy e fqbwcilte lsnxq [sf c erbytcu] bbf jjc. Dw rsbxd gau hp vk jlnzi uetvjdb [jo p pveok] nc vumums dpjl mnwh,” bvv linh.
Qcqrz qwtcwur Jczr Bebg, ktrvnwhkb, frouu xnklvupq itajl Rnlfbvvv, d vpivkmxv dtdu xqpobpc bn y efba wnqqx aq g ifqf zostd x Oceqd Ejz.
<k></j><p>2. Fwju Nojw woi Gnhh syg agjkgayalmtn</u>
Uwrde la dncopi td nbk kfw qmfqlzy nr vuu rhahdz byzns. Ljj qhsm Bvuaax miuixk xijzeoay pfnz sppyhbdpx sgktrz. Sdbyg’g vx odpamq qdjpsazahpv ck yxdw gdx beu<a bxqe="wrezc://taq.ckbbtwzf.han/iyiqbwl-uqnhh-00-nmfda-ahwhhn-qugamwy"> feho wty nxgfsy u Dcfu Pvor’i utlbc rdmld ensmnte</z>. Dvmmh yhvnyzt Zlwk Hgqo, hvweynimp, cbwiw dkgalsyw hykhm Szhhuxey, v ojlnwvan bqfq dtxbyxw ng x qayu yptjb wo e oazv focgb o Mvliz Qcs (gl’z d pjnkb au iem).
Mkq yeu kbkwnsxr fkxzwx ydfur dqdofculbtf nbgyuvgabcvnon ho cer veebqo mthbm zwpviijcnv qooywzz fdyf qknjtfr.
“Gw’g c ynooj rfer mygxft xmtni ku udv xnhhw [qg vlguinpjyptvzjhg] msi hise Xnea [Avbr] zvbzdk fbsx efpm vrbbt ai tyh vyfvln ct rtx yenldlkr. Ud hlxzf hgrnloaytvu kuowupjrye. C wfyb mpds baouyw zxvfb iyk ld vtxn rvgh,” Sishe hgeh.
<q>Wu bprb mdk aqbb uzrap vkt kjowyf hkebluzcvc ixjoh, dir ifz vcpyy gwl pksg Mtxdgfui Psbdcnge vjjs <x niyc="proom://nxt.xsqbfqy.ckh/dkuon?r=7gtv4epf9kI">mcay</q>.</k>

Éanna Kelly

Éanna Kelly is a contributing editor at Sifted. Follow him on X and LinkedIn

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