After the Casino
I’ve been involved with blockchain since around 2018, with a tilt towards TradFi and enterprise use cases. In all that time, the thing that drew me in was never the price. Back in 2021 I wrote a post with the deliberately unhelpful title Don’t use blockchain. The argument was that blockchain is a bad database and a worse computer: slow, expensive, single-threaded by design. It has exactly one job worth paying that cost for: removing third-party risk. You stop having to trust that some operator keeps running the right software and doesn’t abuse their access. That’s it. Everything else you should minimize. ...