Blockchain in 2024- detailed industry analysis

btw crypto is dead.

So what is this, why should you care, what happened — bla bla. hang on girlfriend- let me get myself sorted im here to dish.

This is not a technical analysis of the math of the platforms, its a technology development overview and an ecosystem analysis. With a regulatory and economic lens. whatever i used to be a prof.

What is a “blockchain”?

Lets get this out of the way. in a given day we make alot of promises. we promise to make our bed, take out the trash etc but these are mostly left to the honor code. however the internet has had a very long standing problem- people have very little honor.

so how do we make sure a transaction took place. without evoking the honor code. for example, how do we make sure that the money you were going to send to someone got there? traditionally we use banks. and we engage into a social contract with banks that says they will hold our money and be good corporate citizens and we can use their infrastructure to do transactions.

now in 2024- there are alot of cavets to this. for example, if you are a brown woman then you cant understand how crypto markets work and cant spend 50k of your own money to buy bit. HOWEVER is you are a terrorist you can definitely use CIBC to launder the money. the eccentricites of the financial system are very unique.