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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 a has shown no track record of providing benefit for any real world applications. So-called permissioned blockchain 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 networks for the issuance of crypto asset for regulatory arbitrage of securities law and illicit financing purposes. There is no proven use case for the technology outside of scofflawing.
References
- [@orlowski_blockchain_2018]
- [@rauchs_2nd_2019]
- [@bindseil_encrypted_2022]
- [@olson_problem_2022]
- [@diehl_case_nodate]