NYU economics professor Nouriel Roubini’s latest piece of demagoguery entitled “The Big Blockchain Lie” should get a F grade for confounding blockchain with Bitcoin. Real world blockchain use cases are happening now at the enterprise level and Roubini’s labeling them as “glorified spreadsheets” is impetuous and worthy of a Donald Trump late night tweet.
There are countless times in technology where an upgraded version of a technology product may be referred to, albeit glibly, as “glorified”. In Roubini’s view isn’t Slack simply a “glorified chat/messaging system”? Isn’t Uber a “glorified taxi/livery service”? Wasn’t the iPod really only a “glorified Sony Walkman”? I will spare you any more analogies, but blockchain is far from a glorified spreadsheet, and the following delineation will lay it out so even Professor Roubini can understand.