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Cryptocurrency

Banks should abandon their blockchain fantasies

Efforts from the likes of JPMorgan, Blackrock, and Goldman Sachs to focus on crypto's underlying technology are little more than marketing theatre

By

Stephen Diehl

‘On the back of the irreconcilable contradictions in using public blockchains for enterprise applications, many consultants have pitched their clients on so-called private blockchains
‘On the back of the irreconcilable contradictions in using public blockchains for enterprise applications, many consultants have pitched their clients on so-called private blockchains Photo: Getty Images

Stephen Diehl is a software engineer and prominent crypto sceptic

In the wake of the crypto meltdown of last year, most of the industry's chatter has shifted towards discussion of the blockchain technology underpinning bitcoin and other cryptocurrencies, rather than the financial instruments themselves.

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