Did these ICOs really need a blockchain?
We may have established whether these ICOs needed their own tokens or not, but did they need a blockchain? The ICOs that didn't need a token may or may not have required a blockchain, but there is a growing argument that suggests that although blockchain technologies are relatively new and still evolving, we could be only a handful of years away from a situation where the question will be reversed to: why would you not build your business using the blockchain?
There are several reasons why a blockchain is useful:
- Using a blockchain means that you don't have to build or own any databases. The blockchain concept, or system of blockchains, provides this already. Think of Ethereum connected to distributed file systems, such as the Inter Planetary File System (IPFS), Storj, or Sia.
- Traditional systems generally use centralized servers, making them juicy targets for malicious attacks. Equifax, Target, and Sony may ring a bell. Instead of having...
