Anyone honestly working in cryptography will tell you that it will never be full proof, it's a game of delaying the inevitable.
The NSA knew that DES was vulnerable when it was first created! It still lasted what? 20 years? I wouldn't be surprised to here that AES has an "expiration date" either. SHA 256 has a predicted end date aswell, hense why SHA3 was created. It's not a game of finding the "perfect cryptogram to protect my message forever", that game will never be achieved.
But that fact does not mean that privacy is unimportant.
Block-chain is the only way to decentralize a ledger afaik. All those alt-coins out there just have a different way of doing the same thing. It's not that I think it's the best way to do things, but besides decentralizing the the banks themselves, is there any other way?
Anyone honestly working in cryptography will tell you that it will never be full proof, it's a game of delaying the inevitable. The NSA knew that DES was vulnerable when it was first created! It still lasted what? 20 years? I wouldn't be surprised to here that AES has an "expiration date" either. SHA 256 has a predicted end date aswell, hense why SHA3 was created. It's not a game of finding the "perfect cryptogram to protect my message forever", that game will never be achieved.
But that fact does not mean that privacy is unimportant.
Block-chain is the only way to decentralize a ledger afaik. All those alt-coins out there just have a different way of doing the same thing. It's not that I think it's the best way to do things, but besides decentralizing the the banks themselves, is there any other way?