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It's also the technological equivalent of astrology or homeopathy. Confidence in a blockchain system depends upon it's underlying governance structure, which re
by Comevius 4y ago
It's also the technological equivalent of astrology or homeopathy. Confidence in a blockchain system depends upon it's underlying governance structure, which requires trusting a distributed web of actors. The only actual requirement for the transaction medium is to be verifiable, primarily to avoid the double spending problem, which can be achieved much cheaper. There are fintech innovations like UPI that are actually doing a lot for financial inclusion, instead of talking about it in a future tense while pumping and dumping. Now obviously cryptocurrencies are an asset class, but the pretense still exist that one day they will become usable as currencies. That day will never come.