Think Tank Director Tells UK Parliament That Blockchain Is ‘Pixie Dust’ and ‘Magic Wands’

Martin Walker, director of the Center for Evidence-Based Management, dismissed blockchain technology, calling it a “pixie dust” fad before the British Parliament, Business Insider reported May 1.Walker, who directs a think tank that aims to improve the quality of executives’ decision-making, spoke before the Treasury Committee at a hearing on blockchain in the financial system. Walker said it can offer “little to nothing” regarding potential benefits to the sector. He claimed:"All that it takes to make a credible idea into a fad is people just switch off their brains and stop thinking. Over 20 years in and around the banking industry — blockchain is a fad, but I have seen many fads in my career. If 10 percent of what I've heard in my career had come true, we would have these amazing banks that run for £1 a week."He compared fads he has seen with "magic wands" and "pixie…

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