Blockchain may not be the 'magic bullet,' think tank expert says

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Depending on who you ask, blockchain has great or little potential. Experts at a World Bank conference in Washington, D.C. this week, argued that blockchain may not live up to its hype, according to Reuters.

And even those who understand the technology are skeptical of the momentum surrounding it.

"There's a general notion that blockchain is a magic bullet, can save the rainforest or solve world hunger — that's not true,"  Tim Robustelli of New America, a think tank, said at the conference.

Blockchain aims to improve efficiency and protect against potential cyberattacks. But it's no cure-all, said one conference speaker.

"Tech can look big and flashy, and like it can solve all our problems … but the Big Mac burger never matches up to the one in the ad," Aanchal Anand of the World Bank told Reuters.

Ms. Anand supports going back to basics when necessary.

"Sometimes we get lost in the fancy things, but basic tech can deliver results," she said.

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