The public blockchain is not as secure as initially purported. There is a proven method, 51% attack, to hack the public blockchain, commonly known as a decentralized blockchain.
https://www.coindesk.com/blockchains-feared-51-attack-now-becoming-regular/
The hacking of a decentralized blockchain is not technologically challenging but rather cost challenging. To keep the cost down, hackers have turned to rent mining rigs to hack the public blockchains.
Therefore, as the crypto prices go up, the hacking occurrences will increase too.
The crypto proponents touted the worldwide adoption of cryptocurrencies based on public blockchains had not materialized insofar and looked unlikely to happen because of the demerits of crypto.
http://sg-stock.blogspot.com/2018/01/the-truth-about-bitcoin.html
http://sg-stock.blogspot.com/2018/03/cryptocurrency-is-very-environmental.html
Furthermore, governments and financial institutions are developing and using private blockchains instead of relying on public blockchains and this will render the public blockchains as useless.
http://www.mas.gov.sg/News-and-Publications/Media-Releases/2018/MAS-and-SGX-partner-Anquan-Deloitte-and-Nasdaq-to-harness-blockchain-technology.aspx
https://cointelegraph.com/news/world-banks-blockchain-based-bonds-a-step-toward-adoption
A private blockchain allows the developer to control and monitor the entire blockchain network and maintain the integrity of the system which is suitable for a government and/or financial institution whereas a developer has to cede control on a public blockchain.
In conclusion, we would like to give a prescient warning that the rise of the private blockchain will cannibalize the public blockchain and cryptocurrency.
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