A small minority doing the mining does not imply rent seeking. Specialization through division of labour would produce the same result. In any case I'm not say

A small minority doing the mining does not imply rent seeking. Specialization through division of labour would produce the same result. In any case I'm not saying they are perfect or that they permit zero rent seeking. What I'm arguing is that for reasons I've articulated, the current crop of cryptoeconomic platforms are much less rent-seeking than traditional financial platforms and systems. Therefore, all other things being held equal, meaning that if we're only comparing on the grounds of how much rent-seeking they permit, I believe it is likely that it would improve public welfare if they supplanted the current monetary and financial system.