There is real and undeniable innovation happening in the blockchain, aimed at fixing problems created by the blockchain, just like resolving the problems introduced by string theory has become the central research program of theoretical physics.
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At some point all technical issues will be fixed, blockchain payments will work, and there will be a simple client you can download that's lightweight enough to run on a phone in the background. And whoever distributes that client will have 100% control of the entire system
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At that point we will have rebuilt the Visa network and financial regulation via a 100,000 developer-year detour. “We shall not cease from blockchain development. And the end of all our exploring Will be to arrive where we started And know the place for the first time.”
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Replying to @Pinboard
in the same vein It's possible to consider the whole last 600 years an attempt to rebuild royalty just with robber baron heirs on top instead of warlords. Some guy wrote something about that at asome point.
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The last 600 years saw important improvements in the human condition like pizza and yoga pants, so they can't be compared to the elegant circularity of the cryptocurrency endeavor
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