WaterChain’s Tom Marchesello: Big tech building a new blockchain for business

In an interview with Coin Rivet, landing on our site tomorrow morning, he observes that 2018 was a difficult year for many blockchain tech groups as “communities of developers stopped working because they could not extract easy pay while the altcoins fell in price”.

Also, the core Maximalists in the Bitcoin network and the related forks of Bitcoin generally failed to produce any new and worthwhile blockchain technology of significance, making them “the dinosaurs of blockchain tech”.

“As the grand experiment of open uncontrolled developers failed, the major progress has instead happened at major corporations. Mega companies like IBM, Google, Microsoft all developed big, robust blockchain tech and are about to flex their muscles. So, 2018 was the year of big tech building a new blockchain for business and keeping it silent,” Marchesello says.

When asked about his take on regulation in the crypto space, he comments: “The original crypto purists are indeed a wild bunch and had many utopian ideals they wished could happen. But reality crushed their skulls with regulation. Mostly because bad actors abused the system and deserved to get a big kick in the sack for their cowboy behaviours. Regulation is a very good thing and we all welcome those measures.”

Yet something is holding back regulation. And it is not a lack of desire or need for regulatory measures. Rather, it is that “the smartest guys in the crypto world are mainly part of the Wild West community and few of these smart people work on the government side.”