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Although speculative crypto-coin startups are disappearing, some wonder if they've tarnished the underlying blockchain tech concepts so much, that they are not being used to solve problems they could. (restofworld.org)

submitted 1 year ago by Lugh@futurology.today to c/futurology@futurology.today

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[–] Lugh@futurology.today 0 points 1 year ago* (last edited 1 year ago) (2 children)

I think its real potential (as yet unexplored) is in disintermediation.

Two parties, who do not know each other, and want to conduct business rely on so many intermediaries who provide services, and crucially, trust - who all take their cut. Lawyers, bankers, etc

Blockchain could not only automate the processes, but also be designed to replicate trust.

Also, that potential isn't just about efficiency - its about power, and taking it away from industries and institutions - banking, etc

[–] xep@kbin.social 2 points 1 year ago

efficiency

7 TPS and the amount of energy used so far has been mind boggling. Is the use case boiling our oceans?

[–] TheOneCurly@lemmy.theonecurly.page 1 points 1 year ago

But blockchain can only enforce on-chain behavior. There's no way for it to actually confirm you sent anything or followed the letter of an agreement.