Comment on What do you think would be an actually good use of blockchain/smart contracts? What kind of problems (big or small) is it a good tool for?

rezz@lemmy.world ⁨1⁩ ⁨year⁩ ago

The paradox is that it must solve money first. The original intended usecase is not only the best, but it is a prerequisite to higher order use cases.

Think of the money supply layers, “M0, M1, M2” and so on, and what they mean.

Smart contracts are an “M1-M2+” problem solver. But M0 still isn’t solved.

In other words, having stock markets or NFT housing chain of title will always fail if the money usecase upon which it stands is still fallible. Ethereum put the cart before the horse. Bitcoin or Bitcoin Cash, “dumb” M0 solutions, have to be widely useful for the rest to work.

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