Tim Swanson on the Rise of Blockchains without Bitcoin

Blockchains without bitcoin? The idea has been swirling around in bitcoin conversations as of late. At the front of the conversation is blockchain consultant Tim Swanson who often injects skepticism into the space. He explained some of the details of permissioned blockchains and how that would work in last week’s Epicenter Bitcoin, a podcast dedicated to cryptocurrency developments.
‘He’s been making people very angry on Reddit,’ said Epicenter host Brian Fabian Crain when introducing his guest. And, true to this description, Swanson’s name topped the subreddit Sunday in a stab at his take on the blockchain.
Businesses such as Hyperledger, which was recently acquired by Blythe Masters’ Digital Asset Holdings, andEris Industries have brought blockchain software to the table that drops cryptocurrencies. Swanson recently released a white paper in which he describes eight companies working on projects that use the blockchain without the coin. He said in the podcast:
‘Let Bitcoin be Bitcoin and not turn it into a million different things that it’s not particularly suited for based on its capital expenses that are involved in proof of work.’

This post was published at Coin Telegraph on 2015-06-30.