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Saturday, September 17, 2016

A super brief note on Blockchain and Silver Bullet

The Blockchain is everywhere and the promise of the technology has inspired a big number of technologist and business executives to jump on this bandwagon. Yes, the promise of the the Blockchain technology is huge but it may be oversold specially around it's non-repudiation and decentralize nature of security. The defense is made that it's impossible, or not practically feasible, to break the chain due to its nature of linking the prior blocks using the hash and so forth. Similarly about the non-repudiation characteristic of the technology.  

I no way claim that I know how to break this or it can be broken today but I know for sure that there's nothing called absolute secured technology in the computing field. It's all about relative security where we call a system secured if its security can't be broken in relatively short period of time that makes it vulnerable. We should definitely invest big in block chain, not because of considering it as the panacea but because it is superior in the area of non-repudiation and digital identity, etc. features while keeping in mind that some time, some smart programmer will break this using a superior algorithm or a unexpected breakthrough in computing power.

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