Blockchain technology, which underpins cryptocurrencies, was described as having ‘no meaningful use cases’, in a meeting with British MPs.
The House of Commons Science and Technology Committee on Blockchain met with experts in the field to discuss uses of the technology amid widespread turmoil in the crypto sector.
Technology journalist David Gerard, author of Attack of the 50-Foot Blockchain spoke to MPs at Portcullis House near Westminster to assess the technology in terms of its “benefits, limitations and key considerations for policymakers”, Yahoo News reported.
Gerard was scathing about the technology, saying, “Blockchain technology provides security for things that don’t need securing and are not a problem and a lot of the innovation started from the technology and then they sought to find problems they could solve with it.”
View from the City
The discussion came against the background of steep price falls across the cryptocurrency sector.
Cryptocurrency exchange Coinbase...
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