I think it's Luddite (specifically sheep mentality) to believe their claims without skepticism when their results are worse than the things they say we need to

I think it's Luddite (specifically sheep mentality) to believe their claims without skepticism when their results are worse than the things they say we need to replace. My model, which predates Bitcoin in various projects/products, is to generate signed, hashed logs that can be checked in a decentralized fashion all using high-performance databases and fast checkers. Check the results more often than computational steps to reduce unnecessary re-computation. If format and protocols are open, using common tech can allow for diverse implementations to reduce one-attack-to-rob-them-all setups. Also, where possible, do hashes of hashes like one, checkable report per day per bank to reduce overall size of chains over time. This model can work with existing tech producing just some logs that can be hosted on CDN's, checked with hardware acceleration on commodity hardware, and even hosted on $5 VPS's if you want. That's a total cost of $5 per suspicious party running checks if minimizing costs and energy use. Current payment methods work at POS with 16-bit MCU's and such. The signed checks can themselves be sent in as just extra database transactions. The organizations should be non-profits or public-benefit companies whose charter, licensing agreements, and contracts make specific behaviors either mandatory if good or prohibited if bad. Possible sign auditing agreements with organizations that defend consumers with severe penalties for anything shady. Start with credit unions, though, combined with non-profit, payment processors with lean operations. If you're wondering, the common pattern of my methods is to use the simplest, fastest, most-proven components, whether technical or legal, to build the improved version of current tech that solves the specific problems most people worry about. Nine times out of ten, it's just a shady, for-profit company being assholes due to their incentives. Just changing the model over to a public-benefit Paypal or Venmo with multinational implementation cross-checking each other by itself gets past most of that. Plus, using existing databases, crypto acceleration, and tamper-resistant smartcards keeps performance high with checking cost, hardware and energy, very low. As I read cyptocurrency and blockchain stuff, it's like they never thought about any of this before going onto solve problems 99% of people with checking accounts and credit cards don't have. Volatile currencies, exchanges getting robbed, and no chargebacks allowed are good examples where most people wouldn't trade their bank and plastic. The folks working on these things should start with user requirements, look at existing solutions, enumerate problems, find simplest changes that fix those problems, deploy solutions, and iterate from there. Strangely, the exact advice YC gave to the startup founders that made it big.