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No, I think it's a healthy dose of skepticism. Many applications for blockchain tech are impractical at best, leading to discussions about the ethics and legal
by Keeeeeeeks 9y ago
No, I think it's a healthy dose of skepticism. Many applications for blockchain tech are impractical at best, leading to discussions about the ethics and legal implications of selling a token that quacks like a security via irreversible funding rounds.
Most of the big things are either tied around vice or price. If an early adopter (or group of them, depending on your Spoofy theories) decide to manipulate the price enough to pump the price and create floors, they can. I haven't seen a killer app that specifically adds to people's lives in a way that doesn't provide liquidity to human rights violators (backpage, DNMs, kids/adults committing fraud, etc).
Sure, there's Venezuela using and mining Bitcoin because their currency is unusable, but Bitcoin wasn't designed precisely for them.
Shite companies love to prop up their use cases on developing country citizens (Coinbase with their 'African mothers will use us for businesses instead of M-Pesa' ), but the practical matter at hand is that most of these developing countries don't have stable enough internet and crypto-liquidity in a way that's conducive to using crypto on their phones.
Where's the funding round for decentralized Wi-Fi balloons, or a legitimate competitor to M-Pesa? They're about as practical as another decentralized storage platform with minimal commits since the token sale and an ICO that raised a quarter billion based on hype