Cybersecurity

BLOCKCHAIN TECHNOLOGY WILL BE ‘OBSOLETE,’ SAYS PROMINENT GEOPOLITICAL FORECASTER

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

Friedman explained his view of Bitcoin’s underlying technology to CNBC late last week at the UBS CIO Global Forum in New York. The chairman of Geopolitical Futures explained:


I’ve never known any encryption technology not to be broken. I doubt between Russia, China, U.S. intelligence services [that blockchain can’t be decrypted.]
...Analysts finding themselves in Friedman’s camp are also likely aware of the looming quantum computing threat — which would be capable of decrypting blockchains almost instantly. However, the industry’s brightest blockchains still have the opportunity to evolve against such threats.

Finally — on a smaller scale — inexperienced users find their accounts drained of funds on nearly a daily basis, with phishing scams, simple hacks, and the failure to store private keys in cold storage hampering individuals’ goals to ‘being their own bank.’