Blockchain: Everybody calm down

Common misconception

a. block chains are the future of databases

no, it’s good for sharing.

b. smart contracts will nullify the law profession

They are great for automating run-of-the-mill rules-based repetitive tasks but not for negotiating the legality of company scale mergers

*smart contracts: protocols that facilitate, verify or enforce the negotiation or performance of a contract, or that make a contractual clause unnecessary.

c. blockchain is the solution to all the world’s problems

blockchain should be viewed as ‘an enabling tool’ and not as a solution.