
In a sense, current conceptions of blockchain are trying to do the impossible. They want the security of a decentralized system with the control of a centralized one. The desire is the best of both worlds, but what they end up getting is the worst of both worlds. You get the costs and difficulty of a decentralized system with the failure modes of a centralized one.
…e leading edge of technology. Like it or not, the word “blockchain” has taken on a life of its own. Very few people actually understand what it is, but want to appear hip so use these words as a way to sound more intelligent. Just like “cloud” means someone else’s computer and “AI” means a tweaked algorithm, “blockchain” in this context means a slow, expensive database.