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RE: Proof of Stupidity | Revolutionary Consensus Algorithm

in #blockchain6 years ago (edited)

Re Kodak: Their "proof of stupidity" actually happened a long, long time ago. I'm not sure how many people know this, given how duplicitous digital cameras are today, but kodak INVENTED digital cameras and had the patent. But, they felt that digital cameras were cheap and would dilute/besmirch their brand. So what did they do? They leased the patent out to other companies and didn't bother renewing it, and by the time they realised their mistakes it was too late.
Just as much as "proof of stupidity" is naturally occurring in nature, 'huge companies' are naturally prone to making 'huge mistakes'.