| ▲ | ninjagoo 6 hours ago | |
IMHO, most people misunderstand the real utility of crypto. The thing to keep in mind is that replacing a database with computationally expensive crypto is sub-optimal. Supply Chain tracking falls into this category: why crypto over barcodes and a database? Governments use Banks with their deterministic processes to manage and guarantee transactions. This is where crypto shines- replacing the entire banking system as an intermediary to manage and guarantee transactions. Crypto can do this better and cheaper than Banks. There are other domains where the government is the backstop/guarantor and leverages intermediaries to manage the scale. Real Estate comes to mind. Identity is another. Crypto can be useful there. One last useful crypto application is to replace governments themselves as the backstop and final/guarantor for transactions. These are ideas that evoke strong reactions. There's a reason the inventor of crypto is anonymous, to this day. | ||