>> Bitcoin did actually solve a real problem: a completely digital decentralized immutable record.
> That doesn't describe a problem though, it describes a technical solution.
The problem is that we can't seem to form consensus in a world inundated with technology. Bitcoin and other chains have shown that you can create a state that reaches consensus under specified rules that are enforceable by computation and not violence.
Yes it has many problems, and the consensus is limited to the blockchain "world", but I envision a future where block chains can be valuable "truth" layers to the computation stack that society operates on.
> That doesn't describe a problem though, it describes a technical solution.
The problem is that we can't seem to form consensus in a world inundated with technology. Bitcoin and other chains have shown that you can create a state that reaches consensus under specified rules that are enforceable by computation and not violence.
Yes it has many problems, and the consensus is limited to the blockchain "world", but I envision a future where block chains can be valuable "truth" layers to the computation stack that society operates on.
Practically, I believe blockchains can be solution for creating online decentralized identity (https://www.microsoft.com/en-us/security/business/identity-a...), which will help solve our information consensus problems (https://consilienceproject.org/democracy-and-the-epistemic-c...).
I also believe they have much to offer in modernizing the financial system, and providing better ways for governments to implement monetary policy.