What Are the Biggest Failures of Blockchain Technology So Far?

In this video Derin Cag talks about The DAO as a case-study of one of the biggest failures of blockchain technology so far. The DAO was a digital decentralized autonomous organization and a form of investor-directed venture capital fund.

Derin explains how it was a mistake to experiment with smart-contracts using $150m, but he also affirms how even the biggest failures within the blockchain ecosystem are not as bad as those within the financial system. As an example of this he compares The DAO, which recovered its stolen funds within 2 months, with the SWIFT where stolen money from numerous heists are still being pursued by law enforcement agencies, even after many years - such as in the case of the Bangladesh Bank robbery. ( see here https://en.wikipedia.org/wiki/Bangladesh_Bank_robbery )

The biggest potential risk to Blockchain technology is the lack of skills in the market to take advantage of its potential. The coolest people on the planet today are the data scientists and coders/programmers. They’ve replaced the bankers as the change makers. Unfortunately global education systems are not producing enough skilled labour to take advantage of the opportunities Blockchain technology provides. Another risk is the failure of governments to adapt the technology as this will slow down development opportunities.