Ethereum co-founder Vitalik Buterin took a fresh dig at IBM in an interview at a recent conference, suggesting that the tech giant’s use of blockchain for supply chain tracking is a waste of time.
He was speaking in an interview at this year’s Devocon4 conference in Prague for Ethereum developers, which was focusing on extending Ethereum’s outreach to the next million users and improving its effectiveness for them.
The multinational tech giant IBM, in league with other companies, has been leaving a significant imprint on the retail industry lately with the use of blockchain technology in supply chain systems.
This year an IBM/Walmart project came up with a farm-to-store tracking system based on blockchain technology, which Walmart committed 100 of its suppliers to adhere to. Both have been at the forefront of DLT since its conception and are eager to promote the use of new technology in sectors including business and commerce.
IBM also has patents accepted for such projects as Blockchain for Open Scientific Research which assert that blockchain can aid the process of scientific research by tracking research and development projects across institutional borders while offering “a tamper-resistant log of scientific research”. In fact, it has become challenging to cite a sector that IBM has not thoroughly explored in order to test the future potential of blockchain technology.
Ethereum’s co-founder is not so impressed, claiming marketing hype is at the center of IBM’s push to advertise its advances in DLT. He claims its blockchain supply chain achievements are off the mark and fundamentally missing the point of decentralization.
“Sometimes it is for marketing hype. Sometimes it is just people who are genuinely excited about blockchains and want the thing they are personally excited about and their job to align more with each other, which is a totally legitimate, human thing to want to do.”
Buterin suggests that lettuces on the blockchain, for example, is wrong, as the implication is that by using blockchain the consumer is being empowered by being able to track items at every step from growth to table using QR scanning. He argues that the viability of this system relies totally on the ability of the user to perform each task, for example, such as the farmer imputing the correct details on the blockchain so that customers can actually confirm the credentials of the information.
According to Buterin, blockchain technology should be regarded as a tool rather a 100% guarantee of evidence of credibility and therefore not necessarily the panacea to all life’s ills.
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