The problem is the only situations where crypto is more effective than the alternative (a well operated SQL database owned by a bank headquartered in a geopolit

The problem is the only situations where crypto is more effective than the alternative (a well operated SQL database owned by a bank headquartered in a geopolitically secure jurisdiction with stable courts) is a really shitty one: when you live in a Mad Max world with no stable rule of law. In other words, it just so happens that the exact situations where crypto is useful, are the same situations where it is very hard for capitalists to earn a good return on their capital. Unstable places or illegal markets. It's not that the existence of crypto doesn't make sense. It's that investing in it makes no sense, because it will only be successful in scenarios where "investing in things" at all is a lost cause.