Are Derivatives destructive financial instruments? Or Have some utility?

By Managing it in a suitable way its really great toll to manage risk for conglomerates and group of Co,s

If used for hedging they are useful. If used for speculation could be disastrous. That's why some call derivatives weapons of mass destruction in financial industry.

Actually derivatives are blessing to the market with out them how you will mitigate risk by hedging and it provides a good share of Volume by thus improves overall liquidity