Security News > 2022 > June > On the Dangers of Cryptocurrencies and the Uselessness of Blockchain
To me, the problem isn't that blockchain systems can be made slightly less awful than they are today.
The problem with blockchain is that it's not an improvement to any system-and often makes things worse.
More ore specifically, I can't find a blockchain application whose value has anything to do with the blockchain part, that wouldn't be made safer, more secure, more reliable, and just plain better by removing the blockchain part.
It's a regressive subsidy, "Since these fees are baked into the cost of most retail goods and thus fall heavily on the working poor." But that has nothing to do with the lack of blockchain, and solving it isn't helped by adding a blockchain.
Peer-to-peer payment systems like PayPal, Venmo, MPesa, and AliPay all get around those high transaction fees, and none of them use blockchain.
Which is good, because adding blockchain causes a whole slew of new problems and makes all of these systems much, much worse.