Cryptocurrencies and Blockchains are incredibly intriguing, but mostly misunderstood

I’m writing this article for an ex-colleague of mine, who is “sold on the potential of blockchain” but “always struggled understanding real use cases for crypto-currencies”. He is an exceptionally smart and qualified actuary, the Head of Digital at a large financial institution in South Africa, and had many successes during his previous career at Accenture. Clearly he has intellectual horsepower, and yet he “struggles” with this. He is not the only one.

I have worked with many technology professionals, heavy-hitter management consultants and highly regarded payment specialists with years of banking and regulatory experience, all of whom understand blockchains…


Black hole. Courtesy phys.org

What the ‘experts’ are not telling you

An inordinate amount of money has flowed into blockchain startups via their token sales (ICOs) in the last year or so, way beyond what makes business sense. The vast sums of money raised via ICOs compared to venture capital funding, along with the speculative activity in cryptocurrencies, has certainly caught the attention of the media. The systemic risks that ICOs create does however not catch enough media attention.

In addition to the vast sums of money poured into the purchasing of tokens (also referred to as cryptocurrencies) before or during the ICO, the tokens themselves are now trading at prices…

Irlon Terblanche

Fintech CEO| Former positions: Retail Banking CEO, Retirement Funds CEO, Insurance COO, Management Consultant, Technical Architect and Engineer.

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