Blockchain distributed ledger technology (DLT) has been touted as the answer for just about every transactional issue facing the world today – from payment processing and supply chain tracking to digital identities and copyright protection.
Databases, however, have been serving those same use cases for decades. They record how much money is in a bank account, when cargo reaches a destination and they store the identities of business users – enabling access to business applications and sensitive data.
Because of those similarities, there are cynics (some may even call them pragmatists) who believe once you strip away the hype associated with blockchain and its cryptocurrency origins, what you have left is nothing more than a fancy, but slow and expensive, database.
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(Insider Story)
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