Ripple CEO Claims Too Many Blockchain “Tourists” Muddy The Sector

Blockchain, FinTech, Innovation, Investing, News | October 4, 2017 By:

Ripple CEO Brad Garlinghouse claims there are too many blockchain “tourists” muddying up the sector with buzzwords and vaporware.

Garlinghouse, head of the cryptocurrency that has the third-highest market cap, made the comments as part of a question and answer session on Quora.  In the discussion. Garlinghouse lamented that too many are not developing real-world use-cases.

“Blockchain is like the new big data or AI (artificial intelligence) — too many people are using it as a buzzword and not focused solving a real problem,” said. Garlinghouse. “We like to call them blockchain tourists! There are many applications that are nothing more than science experiments.”

Garlinghouse claimed that some projects would be better served by just creating a database, rather than touting a blockchain.

“There are examples out there that blockchain is not most applicable for and that is why Ripple is focused on a real world use case, solving a real (and very large) customer problem, which has converted into commercial traction that is unmatched in the enterprise blockchain space.”