Lots of debate recently about this topic. We hear phrases bandied about like “Bitcoin IS the Blockchain”, or “Blockchains without Bitcoin don’t make sense” or such. To me that’s nonsense, put forth by an increasingly desperate group of Bitcoin maximalists. Yes, I think the recent wave of (non-Bitcoin) blockchain adopters, including the likes of VISA, NASDAQ, Microsoft, IBM, large banks and others is a trend that’s here to stay. And yes, for those who are interested, I think Bitcoin has a great chance of surviving anyway.
In my recent article on LTB, I make the case that the blockchain is the innovation, the fundamental technical advancement that will find new application domains. I try to argue that Bitcoin will (rightfully) strive to become more and more competitive in the financial services space, and will specialize accordingly. Meanwhile technologists will continue to treat blockchains as the unique building blocks they are.
People will try crazy things to be sure. Blockchain based everything under the sun? They’re terribly inefficient by design, so there will be failed ventures. But so many things like supply chain management might be improved by judicious use of blockchains, that the tech is likely to sneak its way into many areas of life. Anyway, feel free to comment if you agree or disagree - there’s no right answer here, only opinions.