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Blockchains require systemic buy-in to reveal their instrinsic value. That means government implementation and enforcement, or at least some widespread system t
by prohobo 5y ago
Blockchains require systemic buy-in to reveal their instrinsic value. That means government implementation and enforcement, or at least some widespread system that recognizes a particular blockchain as law. It's coming, but slowly.
You talk about it as if there's a well-worn path that every viable technology must follow to succeed. Cue discussions about the first automobiles, the internet, the smart phone, etc. But history rhymes, it doesn't repeat. The internet's rise itself is a unique phenomenon. I'm more concerned with dealing with blockchains as a reality, not deciding whether or not they're actually happening. In my experience, almost every "nothing is happening, y'all are crazy" argument in the past 10 years has revealed itself to be toxic coping. Who does this denial actually help? So far, Western society is collapsing, finance is getting more centralized, global warming is coming along just fine, corporations are making decisions for us, and the internet is getting more and more totalitarian. All good?
Don't be surprised when the infrastructure magically appears and every asset you own is indexed and tracked on a blockchain. Oops! This is really not the time to be talking shit about cryptocurrencies as a concept, because they're going to be part of your life whether you like it or not. What you should be focusing on is helping shape them in your favor - because they're currently not.
So, let's assume it is, in fact, happening. The technology should also enable certain services which weren't possible before, but I'm not sure what those are. We see the corpos going into the "metaverse", and central banks going for CBDCs, which I suppose could work (for them), but if there was a pro-consumer service that can be deployed now it'd end discussions like this.