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RE: FAANG Stocks Companies and Blockchain technology: Are they late to the Party?
I don't believe they are late to blockchain - I think that blockchain is not applicable to their core competencies. The further I study about blockchain technology the fewer vital applications I see in these early days.
Additionally, if some developer team or blockchain/cryptoasset has developed a valuable solution, I believe it will play out similarly to how IP has gone for a long time. Those groups or their technology will be leased or acquired as needed/desired.
With so many solutions popping up, it's hard to evaluate which are truly solving problems or just chasing a goldrush.
Thanks for posting this, definitely an important topic to think about right now.
I understand the "blockchain is not applicable to their core business" argument in some cases - like Netflix.
But Google, for example, not only works with huge databases but is also very active in the blockchain industry.
That's an important point you make: many blockchain projects can essentially just be a database.
I agree that most of those companies should have interest in both blockchains and Bitcoin. As for many projects in the emerging industry: I'm weary of many of them beyond there attempts at being cryptocurrencies.
Specifically, when I see companies like Citi or Goldman Sachs sniffing around, it really isn't a gold star for me...