From the Author of The Agile Architecture Revolution

Jason Bloomberg

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Six Reasons Why We Need Blockchain Skeptics

On my Forbes beat I cover many new, disruptive technologies – innovations with their fair share of frothy hyperbole. To balance such froth, I try to bring a measured dose of skepticism, not to be some kind of Debbie Downer, but rather to help people cut through the hype to gain a clearer understanding of the topic at hand.

A Bitcoin mining rig from 2014. Today, the profitable ones fill entire data centers.

A Bitcoin mining rig from 2014. Today, the profitable ones fill entire data centers.

However, there is one topic – in fact, family of topics – for which I am unapologetically a skeptic through and through: Bitcoin and Blockchain.

As early as 2015, I wondered whether Bitcoin had a real purpose. I poked my stick at the radical Libertarians who hope Bitcoin will lead to the destruction of the global financial system.

I’ve opined on whether Bitcoin’s ‘hard fork’ fix for scalability issues would be fatal to the cryptocurrency, or a the least, whether the fix would be illegal.

I’ve compared Bitcoin to blood diamonds, pointing out that Bitcoin’s illegal uses are responsible for propping up its value.

I’ve also questioned IBM’s longshot bet on Blockchain, and more recently, I’ve listed several reasons to be skeptical about Blockchain.

Given this history of contrarian opinion, you might think I’m somehow prejudiced against Bitcoin and Blockchain.

You’d be wrong.

Why I’m a Bitcoin and Blockchain Skeptic

In fact, I’m a huge proponent of new, disruptive technologies and their applications – Blockchain and Bitcoin included.

As an industry analyst, however, my role is to provide insight into disruptive trends in the market. Given the peculiar characteristics of both Bitcoin and Blockchain, such insight must necessarily come from a skeptical position – not just by me, but from cooler heads generally.

In other words, we need more Bitcoin and Blockchain skeptics. Here are six reasons why.

Read the entire article at https://www.forbes.com/sites/jasonbloomberg/2017/07/30/six-reasons-why-we-need-blockchain-skeptics/.

Intellyx publishes the Agile Digital Transformation Roadmap poster, advises companies on their digital transformation initiatives, and helps vendors communicate their agility stories. As of the time of writing, none of the organizations mentioned in this article are Intellyx customers. Image credit: Steve Rainwater.

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More Stories By Jason Bloomberg

Jason Bloomberg is the leading expert on architecting agility for the enterprise. As president of Intellyx, Mr. Bloomberg brings his years of thought leadership in the areas of Cloud Computing, Enterprise Architecture, and Service-Oriented Architecture to a global clientele of business executives, architects, software vendors, and Cloud service providers looking to achieve technology-enabled business agility across their organizations and for their customers. His latest book, The Agile Architecture Revolution (John Wiley & Sons, 2013), sets the stage for Mr. Bloomberg’s groundbreaking Agile Architecture vision.

Mr. Bloomberg is perhaps best known for his twelve years at ZapThink, where he created and delivered the Licensed ZapThink Architect (LZA) SOA course and associated credential, certifying over 1,700 professionals worldwide. He is one of the original Managing Partners of ZapThink LLC, the leading SOA advisory and analysis firm, which was acquired by Dovel Technologies in 2011. He now runs the successor to the LZA program, the Bloomberg Agile Architecture Course, around the world.

Mr. Bloomberg is a frequent conference speaker and prolific writer. He has published over 500 articles, spoken at over 300 conferences, Webinars, and other events, and has been quoted in the press over 1,400 times as the leading expert on agile approaches to architecture in the enterprise.

Mr. Bloomberg’s previous book, Service Orient or Be Doomed! How Service Orientation Will Change Your Business (John Wiley & Sons, 2006, coauthored with Ron Schmelzer), is recognized as the leading business book on Service Orientation. He also co-authored the books XML and Web Services Unleashed (SAMS Publishing, 2002), and Web Page Scripting Techniques (Hayden Books, 1996).

Prior to ZapThink, Mr. Bloomberg built a diverse background in eBusiness technology management and industry analysis, including serving as a senior analyst in IDC’s eBusiness Advisory group, as well as holding eBusiness management positions at USWeb/CKS (later marchFIRST) and WaveBend Solutions (now Hitachi Consulting).