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I do understand that use case and it has value. Question is - what portion of the 5 billion internet users see that as enough value to enter the space? I have
by kkielhofner 4y ago
I do understand that use case and it has value. Question is - what portion of the 5 billion internet users see that as enough value to enter the space?
I have friends that have fled war torn countries, dictatorships, etc and I'm glad blockchain now exists for that scenario but again - can that use case (fortunately very rare) justify tens if not hundreds of billions of dollars of investment and over 10 years of work?
This is what I don't understand.
I understand banking has problems (fiat is a much longer debate). What needs to be understood is how many of the 5 billion internet users think the benefit of blockchain justifies throwing out the entire financial (and often legal) system and operating in a parallel one? Not to mention the willingness of average people to essentially be their own bank. For this reason alone I think blockchain is a non-starter for the overwhelming majority of internet users.
How many people care? Answer is: a tiny portion. A very optimistic estimate of total blockchain "users" worldwide is in the range of 100m. 13 years and untold billions of dollars of investment to reach 2% adoption of the internet population isn't exactly a success story that speaks well to the utility of the solutions provided and the real world problems they solve.