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Is blockchain’s negative press justified?

In the early days of the internet, it was drilled into us that there would always be bad actors lurking – never talk to strangers, don’t post sensitive information online, and always be aware of scams. 

As the years have gone by, we have become more and more comfortable with what we do online – it’s familiar and part of our daily lives, so the sense of risk has been diminished. We are more aware of how it works and what to look out for. 

But there’s a new kid on the block that has some people hesitating about its adoption. Blockchain and cryptocurrency has seen its fair share of negative press, but is it justified? It can feel as though every other week there is a hacking scandal within the blockchain space. With the recent hack of Axie Infinity’s Ronin Network, where more than $600 million of tokens were stolen, there comes a question of how? 

Blockchain in itself is a technology whose sole purpose is to ensure data is secure and immutable. However, there were key oversights in the Ronin attack. With the use of sidechain for faster and cheaper transactions, an oversight in a discontinued agreement and unrevoked permissions led towards a gap in the security of the network. Experts have stated that the issue is cybersecurity, with social engineering and seeking these gaps in human error being the culprit, not cryptocurrency or blockchain technology itself. 

With the rise in popularity of blockchain and its various use-cases and applications over the recent years, it is important we have a thorough understanding of this technology in the same manner we did when the internet was first adopted. We need to demystify blockchain, make it accessible and easily understood to highlight where human error may occur.

At BlockchainNZ we are dedicated to the education of blockchain and making this technology accessible for all. We want to see a world where this technology is understood, respected and adopted to help create a decentralised world. 

We have been working behind the scenes to produce educational resources on our website that can help break down what is blockchain, Bitcoin, Ethereum, tokens, DeFi, NFTs – the list goes on. Feel free to deep-dive here and keep an eye out for what’s coming next. 

What’s happening at BlockchainNZ?

BlockchainNZ Podcast:

Led by Bryan Ventura (BlockchainNZ Chair) and Jeff Nijsse (BlockchainNZ council), we are launching the BlockchainNZ Podcast, where we interview one BlockchainNZ member each episode to talk about all things blockchain, crypto, NFTs, DeFi, and more.  Podcast interviews will only be available to BlockchainNZ members – don’t miss out!

The podcast will soon be available on most mainstream podcast platforms.  

BlockchainNZ Podcast sponsorship: The BlockchainNZ Podcast will have one exclusive sponsor for one full year. Sponsorship benefits include:  

  • Sponsor’s logo accompanying all podcast marketing (across our various channels: social media (FB, Twitter, LinkedIn), newsletter, website)
  • A 30 second verbal (live or recorded) advertisement of the sponsor during each show
  • Guaranteed interview on one podcast

To make things fun, the successful sponsor will be chosen on a “blind auction” highest bidder basis. We are currently shortlisting bidders now. Please contact Bryan if you want to become a sponsor: 

Get involved with BlockchainNZCrypto Legal Working Group:
The first kick-off meeting for BlockchainNZ’s Crypto Legal Working Group is coming up in early May. Members are welcome to join the working group, whose purpose is to assist the blockchain community understand the laws, regulations and tax requirements surrounding cryptocurrencies. If you believe you can contribute and want to be involved, please email us as at

Call for Articles: 
Anything interesting being developed in your space? Do you have an opinion on the direction of blockchain, or want to produce an insightful thought piece for our website? We’d love to hear from you. To submit an article, or for more information, please email us at

Techweek22 is around the corner, from 16-22 May, so it’s a great time to put your name down as a sponsor or event organiser. If you’re planning to host an event, let us know so BlockchainNZ can support you!

Ngā mihi nui,

Alison Mackie
BlockchainNZ Executive Director

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BlockchainNZ We provide New Zealand businesses and individuals opportunities for connecting, promoting and advancing in all things blockchain, crypto and decentralisation. We believe that by working together and leveraging our globally recognised brand of trust and integrity, New Zealand can become a key player in the move to a decentralised global ecosystem.