Article content

Kik CEO Ted Livingston sounds remarkably pessimistic about blockchain technology for a guy who raised almost $100 million by selling cryptocurrency last year.

“Almost nobody should be looking at blockchain,” Livingston said.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Kik CEO who issued cryptocurrency says blockchain isn't for everyone Back to video

“Unless you’re trying to build one of the most-used cryptocurrencies in the world, it’s very low odds that blockchain is going to create value for you.”

Livingston was speaking about cryptocurrencies at the True North tech conference in Waterloo on Wednesday, and sat down with the Post to give an update on his own adventures with Kin, the digital currency tied to the Kik messaging app.

Livingston said he’s not convinced that there are a whole lot of practical applications for blockchain technology other than Bitcoin and other cryptocurrencies.

The genius of those currencies, he said, is that they create “digital scarcity” that allows for a limited number of tokens to be created and exchanged across a network even if all the participants don’t trust each other.