I wrote a headline nearly a year ago “Blockchain Blues,” about industry thought leaders considering “the problems as more major banks endorsed the technology’s potential.” Now the blues are really being heard, with the backing on the Ethereum-based DAO, a somewhat utopian venture fund. The fund is winding down and is expected to roll back the transactions, something that would not happen in an ideal world of decentralized finance. These two headlines from last week’s Quartz show how quickly the blockchain and FinTech market can change and, indeed, how fragile it can be regardless or perhaps because of the frenzied pace organizations are driven.
Friday
A $79 million cryptocurrency heist just happened, and it’s threatening the future of blockchains