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Discussion on: We're just not ready for that yet...

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edA‑qa mort‑ora‑y

The current technology for block-chain, in particular for bitcoin, has the problem of simply not being scalable. You couldn't run an economy on the system.

The second issue is that without the backing of any government it's hard to assign real value to a cryptocurrency. There's absolutely no system of guarantees that those values mean anything at all. It's an unbelievably large trust hurdle society would need to resolve before they could become mainstream.

Perhaps a third issue is that it doesn't have any kind of controls or regulation regarding financial products. A lot of the finance industry, including personal loans and investment, revolves around a lot of mandated behavior for financial transactions. The authorities on currency provide a low-risk playing field for financial transactions.

The technology of blockchain, and related ones, can solve several security problems related to trust in authority. They don't completely sovle the problem, and also require adequate participation to do so. They can be employed as anti-corruption systems, and are in some countries.