Jimmy Song on The Blockchain Revolution Myth

Mr Obnoxious - Un pódcast de Peter McCormack

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Interview location: Oslo
Interview date: Wednesday 29th May, 2019
Company: Jimmy Song Consulting
Role: Bitcoin Expert Witness

The Blockchain Revolution: decentralising the world and taking power away from the elite. Five years on, there is not a single, notable example of a successful breakthrough application of a blockchain outside of money. Arguably, there is not a single breakthrough application of a blockchain outside of Bitcoin.

While some may point to Ethereum as a success, but now the ICO bubble has burst, even the fundraising use case has done nothing but create more failed blockchain projects. Ethereum’s struggles highlighted with growing discontent amongst developers and Consensys shopping for a $200m fundraise while cutting staff and failed projects.

Why has blockchain become a thing? Why do “experts” continue to push the technology, looking for a problem for the blockchain solution? Are people disingenuous, are they filled with hopium for their bags held, or are they straight up scammers?

In this episode, I talk with Bitcoin OG, Jimmy Song about the myth of the blockchain revolution. Jimmy Song explains what a blockchain is, why the only real use case is for money, the problem with Ethereum, and why Gigameg blocks won’t work.

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Helpful Links:

Connect with Jimmy:
- On Twitter @Jimmy Song
- On Medium
- On LinkedIn
- On YouTube
- On GitHub
- On Crunchbase

Business links:
- Programming Blockchain
- Blockchain Capital
- Book: Programming Bitcoin: Learn How to Program Bitcoin from Scratch

Mentioned in the interview:
- Jimmy’s Medium post: Why Blockchain is Not the Answer
- Oslo Freedom Forum
- Silk Road
- Backpage
- Microsoft and Bitcoin
- Blockstream’s Samson Mow Is Launching a Space Alien Gaming Token on Bitcoin
- Bitcoin coloured coins
- Infura
- Focus Mate

Other relevant WBD podcasts:
- WBD065: Tone Vays on Why Altcoins Are a Bad Investment
- WBD046: Francis Pouliot on the Network Effect of Money and Why Tokens Are Scams
- WBD038: Questioning the Obsession with Blockchains and On-Chain Governance with Nic Carter
- WBD030: Teaching C# Developers to Integrate Bitcoin within their Applications with Vortex
- WBD028: Bitcoin Maximalism with Pierre Rochard
- WBD018: Bitcoin Scaling and Lightning Network with Jameson Lopp

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