RE: The Heist: How Big Blue stole Blockchain!
Long read but good one. I develop software for +25yr now, on the level you are writing, blockchain is just what we call a buzzword. Soon there will be the official IBM or other logo stamp and everybody needs to go through some procedures, pay a lot of money, get the stamp, show it in the advertising.
Off course business goes on as usual but we know their ignorance will be fatal in the long term, they simply don't see what this is about. This will be not about another buzzword stamp, don't let this bother you
I write accounting software. If i use the word 'immutable database' and i connect that "old" technology with blockchain, i already get CEO's on their knees. Believe me, they just want that stamp 'blockchain' and if they get the smallest grip on the meaning of it, they are in heaven.
Can't help thinking of that bible verse saying something like "forgive... as they do not know"
You nailed it in your post, the most powerful essential ingredients are simply missing, i am not afraid of what they are doing, time will proof their systems are not reliable...
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Blockchain is really complex and complexity is costly.
What Bitcoin and other true blockchain systems managed to do is to hit a "sweet spot" where the incentives are powerful enough to mobilize the necessary collaboration level needed to maintain such a complex system.
My prediction is that, absent incentives, Fabric-based systems will prove so costly to run that at some point companies will realize that they are not worth maintaining, as to do the business they are doing, the way they are doing it, a much-cheaper-to-run classical system does the job.
After having wasted (for the shareholders) a lot of money (but made a bunch of money for IBM), they will sound the retreat.