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Are there any drawbacks to using blockchain technology?
Yes, there are some drawbacks to using blockchain technology. One of the main drawbacks is that it can be expensive to use. Because the data on a blockchain is stored on multiple computers, known as nodes, running and maintaining a blockchain can require a significant amount of computing power and e... more
Yes, there are some drawbacks to using blockchain technology. One of the main drawbacks is that it can be expensive to use. Because the data on a blockchain is stored on multiple computers, known as nodes, running and maintaining a blockchain can require a significant amount of computing power and energy. This can make it cost-prohibitive for some organizations to use. Additionally, because blockchains are decentralized, they can be difficult to regulate, which can be a concern for some industries and governments. Finally, because the technology is still relatively new, there is a lack of standardization and interoperability between different blockchain systems, which can make it challenging for them to work together.
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Brian Christie answered 6/30/2019
What is the most valuable implementation of blockchain technology that you are aware of?
That's no small question. I'm partial to projects bringing down the barriers and making blockchain technologies more accessible. As the supply chain continues to become more global, people will want to know if the inputs to the products they buy are made ethically, and following sound labor and envi... more
That's no small question. I'm partial to projects bringing down the barriers and making blockchain technologies more accessible. As the supply chain continues to become more global, people will want to know if the inputs to the products they buy are made ethically, and following sound labor and environmental standards so I also like seeing solutions that bring more transparency to supply chain and logistics.
One company specializing in blockchain supply chain and logistics is Block Knowhow. Block Knowhow offer users unfamiliar with blockchain a working hyperledger blockchain that the visitors can participate in - in a non threatening way - by just responding with their interests and experience in blockchain to see their results graphed in real time.
Block Knowhow also offers HyperledgerHosting - a GUI tool that empowers developers with the controls of Hyperledger Fabric functions from the Command Line Interface to management Hyperledger Fabric Clusters of Servers that support the commercial development of blockchain solutions on a distributed ledger platforms.
Long term, another area where I think blockchain will have a profound impact is in the area of education and credentialing.
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Hey Ken, what tools do you use to teach blockchain technology? Look forward to your response.
Hi Jason. Thank you for the question. I use content in the form of books, blogs, and videos to teach content I feel will serve people looking into crypto and blockchain tech. If you take a look at https://coingallant.com, I put everything I have on there as it is always a work in progress. If you co... more
Hi Jason. Thank you for the question. I use content in the form of books, blogs, and videos to teach content I feel will serve people looking into crypto and blockchain tech. If you take a look at https://coingallant.com, I put everything I have on there as it is always a work in progress. If you could, please describe more of what you mean by the word "tools" so I can answer your question in greater detail.
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