Other Non-monetary Instances Abound for the Use of Blockchain, Writes Vitalik Buterin

Other Non-monetary Instances Abound for the Use of Blockchain, Writes Vitalik Buterin

A columnist and co-creator of Ethereum and Bitcoin regular publications, Vitalik Buterin, has advocated for other uses of the blockchain technology beyond just financials.

A Departure From Blockchain’s Traditional Role
Excerpts of a paper by Buterin which was made available on Twitter revealed that more could be achieved with the technical knowledge that blockchain offers as against just providing monetary benefits. Although some industries are moving at the slower pace in adopting blockchain technology, he feels this should not be so, because of what he terms “the value of blockchains in many situations.

Other Non-monetary Instances Abound for the Use of Blockchain, Writes Vitalikbuterin

Writing further, he believes that making use of such knowledge will enhance “important goals like trust and censorship resistance” and that this could be converted to a database for the keeping and retrieval of reliable facts when needed.

Still on the subject of extending the scope of blockchain, Buterin went further to make a case for a relatively new concept known as open-source metrics. This is an idea that helps to determine variety and delegation.

The final part of the paper shows that the argument in this discourse is a continuing one. Nonetheless, it has opened a new page for an extended role for shared ledger technology which must not be ignored.

 

 

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