Why Using Blockchain for Digital Currency is a Political Issue

2021-04-18

I originally didn’t want to mention blockchain specifically again. Due to work-related reasons, I frequently encounter related topics.

Recently, a senior technical manager complained to me that “it’s an entirely layman’s opinion to say digital currency can’t use blockchain. Even just recording large transactions of the four major banks on the blockchain is a great thing, and it can use a hierarchical transaction technology architecture to smoothly solve the issue of limited performance for small payments on the blockchain…”

My logic is very simple.

If blockchain had never appeared in the world, never existed. In this case, if “the higher-ups” required that the transaction data of major banks must be synchronized, consistent, and traceable. Could the people below achieve this?

Not only can they achieve it, but they can do it very well.

Problems that blockchain can solve can also be solved without blockchain. This is almost a well-known fact. This is also why some people say “there is no new technology in blockchain”.

Of course, the “digital currency” here specifically refers to China’s digital currency, and “blockchain” means—before discussing how to use blockchain, shouldn’t we first figure out what “blockchain” is? Strangely, it seems that no one cares about this issue.

In this regard, artificial intelligence contrasts with blockchain. What artificial intelligence can do, if the technology doesn’t keep up, it really can’t be done.