Excellent analysis, Jesse!  Thanks.

Michael Sharpe
Records Retention Manager / Legal & Compliance Department
Pennsylvania Higher Education Assistance Agency
1200 N. Seventh Street, Harrisburg, PA 17102
Direct: 717-720-2820
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From:   Jesse Wilkins <[log in to unmask]>
To:     [log in to unmask]
Date:   02/06/2018 09:16 AM
Subject:        [external]Re: What is blockchain technology? NIST Report 
goes beyond the hype of the most disruptive technology of the decade
Sent by:        Records Management Program <[log in to unmask]>



Yeah, about that. I don't dispute the *potential* of blockchain to be a
very useful tool in many different circumstances. However, the hype right
now is very reminiscent of the hype around XML around 15 years ago, when 
it
was going to revolutionize everything. Quick - how many of the apps you 
use
today use XML? Probably a lot of them. Do you notice? No, because it's
baked in. Does XML carry particular legal or regulatory or recordkeeping
issues? Not really.

At the end of the article, the analyst says, “As scaling and protocols
mature, the value of a decentralized world computer could potentially
become a multi-trillion dollar industry". That's an awful lot of "if" and
"potential" that may not live up to the headline. Maybe more importantly,
the global GDP in 2016 was around 75T. So is blockchain itself going to
account for nearly 13% of that any time soon? In comparison, the entire
Internet "accounts for" around 5T.

TL;DR: Blockchain is interesting and will become more so but take it with 
a
pound of salt.

< curmudgeon />

Jesse Wilkins, CIP, CIPP/US, CEDS, CRM, IGP
Denver, CO
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