Blockchain Will Become Obsolete, Geopolitical Adviser Claims

George Friedman

In an interview with CNBC last June 15, Geopolitical analyst George Friedman claims that blockchain technology will one day become “obsolete.”

Friedman is the founder an chairman of Geopolitical Futures, an online publication that analyzes and forecasts the course of global events. Friedman is also the author of “The Next 100 Years: A Forecast for the 21st Century.”

In the interview, Friedman told CNBC that he has never seen any encryption technology not broken. Friedman also doubted that between intelligence services from Russia, the US and China that blockchain cannot end up decrypted. Friedman added that:

“It’s useful. It’s visible, at some point it’ll be obsolete.”

He also says that blockchain is “one of those hypes. People are profiting from it, making extraordinary claims about it.”

Last January, Federal Bureau of Investigation (FBI) director Christopher Wray revealed statistics about encryption and data security at the International Conference on Cyber Security. According to the information released by the FBI, the law enforcement agency was unable to crack the security of over 7800 devices. These devices contain information vital to ongoing FBI investigations from 2016 to 2017. Wray also stated that over half of the devices safeguarded by encryption had been inaccessible.

Last March, cryptocurrency-focused website Cointelegraph reported that the US National Security Agency (NSA) is allegedly able to locate users of Bitcoin (BTC) around the globe, as classified documents from Edward Snowden revealed. The NSA supposedly accomplished this by creating a system for analyzing raw global internet traffic data using an application disguised as an anonymizing software.

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