Blockchain — a (more) realistic perspective

Right now, blockchain is quickly becoming another bubble, same as bitcoin. It is a great technology but certainly not a panacea to every technological, societal, human, etc. woe. Looking at blockchain, it’s important to keep in mind where it fits in the whole information processing cycle.

When we look at the diagram below, the places where blockchain would be applicable are storage and, to some extent (think Ethereum smart contracts), processing. This still leaves input and output which need to be taken care of using the current approaches and controls.