Comment on Whatever happened to the blockchain/smart contract 'revolution' we were told about?

Canconda@lemmy.ca ⁨4⁩ ⁨days⁩ ago

  1. It’s actively transforming global agriculture. While the USA failed to innovate Canada has integrated blockchain into it’s agricultural sector to facilitate unparalleled trackability.

  2. Blockchain transactions are painfully slow compared to other payment processers. BTC is only 7 transactions a second. VISA handles 65,000 transactions per second.

  3. Crypto currency isn’t backed by a nation’s GDP; which is effectively the mechanism that gives money value. However USA just passed laws recategorizing crypto issuers as financial institutions; that must comply with regulations such as having a % of their liabilities(crypto) as collateral (Cash). So we shall see where things go.

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