July 27, 2017

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I was talking to a student and he very earnestly explaining blockchain for legal contracts to me.  About a minute in I realized he was just explaining using it as an escrow.  He had no idea what escrow was.  It seems that most of the “Dog dating app” tech is just a variation on the old way without any real improvements.  But because people don’t know how things work the go out and try and solve the things they don’t understand.  Is this people failing to research, or a failing in our educational system, or just people as normal?


Everything in today’s world is just an extension (COPY) of an existing product or products usually new tech makes it better like smartphone vs. a cell phone with a page and a flashlight and calculator.

With BlockChain contracts, there was the potential to make a great improvement, but they have yet to consult with experts in contracts and as you point out escrows, so they display a technical expertise but a practical ignorance, problem with many many young people they think if they read a few pages on Google they are experts and ready to change the world.

But like in my smartphone example when planned out and executed well New Tech can greatly improve the Old ways of doing things but trying to get a young developer to take input from a seasoned lawyer or other professional is like pulling teeth nowadays.


Failing to research, definitely!


From my limited experience I’d say it comes from a natural lack of interest for the old over the new. Someone young is far more likely to look into block-chain before this “old fashion” idea known as the escrow.

As a side note I know a few financial people who are lamenting that since 2008 people are just assuming that all financial matters are evil and do not bother to learn more about them. Which may also be a factor in this specific sector.