The reason why distributed trust is never going to work is because authority doesn’t exist without the threat of violence. We’ve done a lot of interesting thin

The reason why distributed trust is never going to work is because authority doesn’t exist without the threat of violence. We’ve done a lot of interesting things in terms of POCs in the public sector over the last decade, and we’ve yet to find a way for blockchain to have a real world impact. In countries with high amount of trust in the public sector and low levels of corruption, it’s a burdensome, inefficient and expensive way to handle trust. In countries with high corruption and no trust, the smart contract doesn’t change the fact that a bunch of people with guns can still just take your land and nobody is going to come after them. It’s sort of similar with money. The only real appliance or Bitcoin and crypto currencies is for criminal enterprises to move and exchange money. The thing about that is that these organisations have as much of an authority or violence as some nation states. Considering Bitcoin can’t control where you use it, or how you turn it into real money, it’s really got not authority.