Blockchain Expertise Will Be ‘Out of date,’ Says Distinguished Geopolitical Forecaster

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Blockchain Technology Will Be ‘Obsolete,’ Says Prominent Geopolitical Forecaster

George Friedman, a well-respected Hungarian-born U.S. geopolitical forecaster and strategist on worldwide affairs, believes blockchain know-how will finally turn out to be “out of date” — and he could also be proper.


‘It’ll be Out of date’

Geopolitical forecaster George Friedman thinks the blockchain’s days are numbered.

Friedman defined his view of Bitcoin’s underlying know-how to CNBC late final week at the usCIO World Discussion board in New York. The chairman of Geopolitical Futures defined:

I’ve by no means recognized any encryption know-how to not be damaged. I doubt between Russia, China, U.S. intelligence companies [that blockchain can’t be decrypted.]

He continued:

It’s helpful. It’s seen, [but] sooner or later it’ll be out of date.

Friedman is well-known for forecasting opinions which regularly go in opposition to the grain of mainstream political thought. As famous by CNBC, the creator of “The Subsequent 100 Years: A Forecast for the 21st Century” additionally believes China will battle to take care of geopolitical energy whereas the US will keep its dominance on the world scale.

Chinks within the Armor

Blockchain’s largest proponents imagine the know-how will at some point change the world as drastically as did the web and the steam engine. Nonetheless, 1000’s of blockchain initiatives have emerged — with extra coming day-after-day — and plenty of have already struggled to maintain the rising know-how’s guarantees.

As reported by Bitcoinist late final week, hackers have already stolen $20 million in ether from poorly configured Ethereum — the second largest cryptocurrency by market capitalization — mining rigs and third-party purposes.