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claims/is-blockchain-tech.md
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# Is the underlying technology of "blockchain" useful for non-monetary purposes?
Blockchain technology, detached from the sale of tokens or [crypto assets](../concepts/cryptoasset.md) a has shown no track record of providing benefit for any real world applications. So-called [permissioned blockchain](../concepts/permissioned-blockchain.md) solutions offer no benefits over traditional database solutions and introduce a great deal of additional complexity for no value add.
The technical purpose of blockchains is to create [censorship resistent](../concepts/censorship-resistence.md) networks for the issuance of [crypto asset](../concepts/cryptoasset.md) for [regulatory arbitrage](../concepts/regulatory-arbitrage.md) of [securities](../concepts/security.md) law and [illicit financing](../concepts/illicit-financing.md) purposes. There is no proven use case for the technology outside of scofflawing.
## References
1. Schneier, Bruce. 2019. ‘There’s No Good Reason to Trust Blockchain Technology’. Wired Magazine. https://www.wired.com/story/theres-no-good-reason-to-trust-blockchain-technology/.
1. Rosenthal, David. n.d. ‘Stanford Lecture on Cryptocurrency’. Accessed 2 March 2022. https://blog.dshr.org/2022/02/ee380-talk.html.
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1. Weaver, Nicholas. 2018. Blockchains and Cryptocurrencies: Burn It With Fire. Berkeley School of Information. https://www.youtube.com/watch?v=xCHab0dNnj4.
1. White, Molly. 2022a. ‘Blockchain-Based Systems Are Not What They Say They Are’. Molly White (blog). 9 January 2022. https://blog.mollywhite.net/blockchains-are-not-what-they-say/.
1. ———. 2022b. ‘It’s Not Still the Early Days’. Molly White. 14 January 2022. https://blog.mollywhite.net/its-not-still-the-early-days/.
1. Bindseil, Ulrich, Patrick Papsdorf, and Jürgen Schaaf. 2022. ‘The Encrypted Threat: Bitcoin’s Social Cost and Regulatory Responses’. 7 January 2022. https://www.suerf.org/docx/f_88b3febc5798a734026c82c1012408f5_38771_suerf.pdf.
1. Bindseil, Ulrich, Patrick Papsdorf, and Jürgen Schaaf. 2022. ‘The Encrypted Threat: Bitcoin’s Social Cost and Regulatory Responses’. 7 January 2022. https://www.suerf.org/docx/f_88b3febc5798a734026c82c1012408f5_38771_suerf.pdf.