Ethereum’s Buterin: Blockchain Piggy-backing Causing “Wasted Time”-5.3

Blockchain, Cryptocurrency, Ethereum (ETH)–Despite the falling price of cryptocurrency, which has a hit a new low for the year as Bitcoin slips to $3700, the drive for companies to integrate blockchain into their services is still alive and strong.

However, the misappropriation and misaligned focus of pursuing blockchain has Ethereum’s Vitalik Buterin finding fault with the race for technology’s latest hyped product. While EWN previously reported on the recent development of companies shifting from the language of “blockchain” to “distributed ledger technology,” the desire to offer the service as a technology or to improve upon existing framework has been a dominating discourse in the world of fintech and beyond. From Facebook, IBM and car manufacturers, to the more obvious industry of banking and global money remittance, blockchain has found a way to invigorate new projects despite its close association with the slumping marketplace of cryptocurrency.

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