Intelligence analyst George Friedman: eventually, government-backed hackers will make blockchain ‘obsolete’

George Friedman who usually appears on the pages of the media on politics with expert statements has made a statement about blockchain technologies. As he thinks, there can be no cryptographic technology left unhacked forever, and hackers backed by the intelligence of either China, Russia or other states could accelerate the downfall of blockchain which is considered an innovation at present.

This partly corresponds with other danger already characterized as one of the main threats for blockchain systems - quantum computers. One cannot exclude that in the future, intelligence services will start to use them for their purposes.

Additionally, George Friedman noted the hype around this technology which leaves some people with a lot of money after they simply make “extraordinary claims”. And indeed, many blockchain projects are overestimated, sometimes the founders cannot even explain why their enterprise cannot exist without this technology.

George Friedman is also a founder and CEO of Strategic Forecasting Inc. - a private firm cooperating both with businesses and governments on intelligence issues. For example, in his recent material, he has made several interesting remarks on the current situation in the Eastern Europe and the future of the countries in that region.

Image: Kim Seong-ryong / Korea JoongAng Daily