5/ It took time before IBM realized they didn't need PoW for a private chain, when they began working on Hyperledger Fabric. They designed a BFT consensus algorithm in v0.6 and then threw it out in v1.0 when they realized business transactions don't need consensus from everyone.
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6/ R3, which consists of 70 of some of the largest financial institutions in the world, did a similar journey. They got together to tap the power of the blockchain only to realize what they needed was a mutual messaging system with digital signatures. That's what Corda is today.
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7/ CME tried to innovate with blockchain technology by launching a private chain called Provachain where they allowed Royal Mint to tokenize grams of gold. In this case both the actual gold and the blockchain was centrally controlled. And they still used PoW for that, BTW.
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8/ Nasdaq and Accenture made a mark on the blockchain space by patenting things. Accenture won a patent for an "editable blockchain". That wasn't actually as stupid as everyone thinks. Banks liked it. Until banks realized they don't want to share their data on blockchains anyway.
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9/ I'm sure I missed many good examples, but for anyone who's been active in this space for the past years, it's been made blatantly clear that the size and track record of companies or institutions means absolutely nothing when it comes to blockchain understanding.
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10/ In reality, most companies have been competing in a just-for-show marketing arm's race with eachother. Leveraging their brand & associating themselves to various blockchain projects, they've all tried to position themselves as market leaders in blockchain tech to win deals.pic.twitter.com/CQM6QnQEp5
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11/ Without knowing this background history, I understand it must sound completely arrogant to IOTA fans when I say that working together with Bosch or Volkswagen means absolutely nothing, and that I somehow know better than the "scientists and engineers" at these companies.
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12/ IOTA are ultimately the culprits of this epic bamboozling that their investors fall victim to, but I can't help feeling that these global companies and their reckless marketing strategies carry some of that blame too. In any case, I've come to sympathize with their investors.
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Replying to @c4chaos
Eric Wall Retweeted Eric Wall
Eric Wall added,
Eric Wall @ercwlReplying to @psycho_sageThat's one decentralization-sacrifice and one trustlessness-sacrifice in one word. D = decentralization-sacrifice, S = trustlessness-sacrifice. Essentially combining the worst of two worlds in order to juice up the transactions per second metric, the "megapixel metric of crypto".1 reply 0 retweets 1 like
i’m sure @bytemaster7 doesn’t agree with your opinion. and Dan Larimer is not a newcomer in the crypto space. for what it’s worth, Dan also doesn’t have a favorable view of $IOTA. shocker. they’re all competing for the top spot in this space 

https://youtu.be/o7HQlcl-LlQ
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