Last week, Mark Mobius of Mobius Capital Partners
appeared on CNBC, stating that blockchain is not unbreakable, going against much of the consensus. Speaking about cryptocurrencies and their perceived value, Mobius concluded that people’s faith in the underlying technology is what makes them valuable.
“I believe blockchain is a very high-risk situation,“ he said. “A lot of people say, ‘blockchain can’t be broken into.’ No, it can be. Anything that’s created by man can be broken into. And it could create a big crisis.”
While blockchain as a concept can be considered safe, blockchain as a real-world application is less so. MIT’s Stuart Madnick
wrote a piece in the Wall Street Journal in June outlining this problem. He is one of the researchers looking into 72 cases of blockchain security breaches, costing firms up to $600 million.
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