Bobby Lee: 95% of ICOs Are Database Tasks

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Bobby Lee: 95% of ICOs Are Database Projects

China-based cryptocurrency change BTCC co-founder Bobby Lee continued the persisting narrative on centralized blockchains Might 30, likening them to “databases.”


‘Full Mental Dishonesty’

In a sequence of tweets, Lee echoed latest feedback by cryptocurrency speaker and educator Andreas Antonopoulos on the shortage of attraction of blockchains which aren’t decentralized.

“Individuals don’t notice that Blockchain needs to be distinct & totally different from Databases, invented many years in the past!” he wrote.

Bitcoin’s actual Blockchain was solely invented in 2009. Everybody utilizing a digital ledger is asking it Blockchain, (with out) regards to performance. Full mental dishonesty!

Criticism of blockchain has grow to be a present matter of debate since final month. Talking at a Polish convention, Antonopoulos had mentioned that the expertise with out decentralized ideas was a “very dangerous database.”

“Bitcoin is the longer term and Blockchain is bullshit,” he summarized.

95% Of ICOs Are ‘Database Tasks’

A month later, Bitcoin builders Jimmy Music and Johnathan Corgan each took difficulty with the lack of cryptocurrency customers to distinguish between blockchain “buzzwords” and real innovation, Music bringing the subject to the stage at Consensus 2018 in New York.

“…As a result of so many individuals are new, or as a result of they’re not assured of their evaluation of what was simply proven, they suppose they’re lacking one thing. And they also politely clap and ignore the nagging doubts of their thoughts,” he commented on the issue.

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