What's sad is the spectacle that has arisen around this novel area over the last several years, the breathless enthusiasm, the handwaving away of concerns, the absolute mindless utopianism that has surrounded this stuff.
Are Smart Contracts interesting? Sure. But they don't address all areas of contract law very well, and they certainly seem like they could well be misused as a way to circumvent a lot of the protections we currently have in place.
Are cryptocurrencies interesting? Again yes, but they don't actually appear to be a very good fit for anything in particular, and they do seem to have a lot of poor economic ideas baked in.
So while blockchains are an interesting set of data structures, a lot of the hate and disparagement comes from the (almost 10) years of relentless hype coupled with the complete failure for any of the great promises to appear. Instead we see exactly what was predictable - hoarding and speculation, scams and fraud.
Comments
What's sad is the spectacle that has arisen around this novel area over the last several years, the breathless enthusiasm, the handwaving away of concerns, the absolute mindless utopianism that has surrounded this stuff.
Are Smart Contracts interesting? Sure. But they don't address all areas of contract law very well, and they certainly seem like they could well be misused as a way to circumvent a lot of the protections we currently have in place.
Are cryptocurrencies interesting? Again yes, but they don't actually appear to be a very good fit for anything in particular, and they do seem to have a lot of poor economic ideas baked in.
So while blockchains are an interesting set of data structures, a lot of the hate and disparagement comes from the (almost 10) years of relentless hype coupled with the complete failure for any of the great promises to appear. Instead we see exactly what was predictable - hoarding and speculation, scams and fraud.