The title is not mine but Kai Stinchcombe’s in a Hackernoon article, “Ten years in, nobody has come up with a use for blockchain”.

I’m too lazy to do the fisking, in fact I may even agree with several arguments made by Kai, but maybe somebody could remind Kai that the Internet was doomed too after the dotcom crash. That ecommerce wouldn’t take off. That Paypal was never going to become a viable, trusted alternative.

Scanning the world for actual blockchain uses, photo via Unsplash.

Or [gasp] that Apple has been doomed for almost two decades, most definitely a decade at the very least.

Meanwhile, Jeff Bezos is the richest man in the world. The third richest man in the world is a prolific Apple Inc. investor, and had he received a traditional burial late Steve Jobs would have been the richest on the cemetery.

And, worth noting, for those seven transactions a second Bitcoin is already estimated to use 35 times as much energy as Visa. If you brought Bitcoin’s transaction volume up to Visa’s it would be using as much electricity as the rest of the world put together.

Maybe somebody could even remind Kai that not each blockchain is a slug. Next year even Ethereum network will speed up when the network switches from PoW to PoS.

Maybe somebody could even tell Kai about the Bitshares, Steem, and EOS blockchains which are designed to operate fast and power thousands, millions of transactions hourly. Without breaking a sweat.

Do not disclose too much though.

I fear that inviting Kai to Steem, telling him that whole new economies are designed and built, to operate freely, may be too much of goodness and revolution for he who brands himself whatever the opposite of a futurist is.

Do not tell Kai that the publication of an unedited article, which was already paid for by a publisher, is rewarded with another $1,000 within hours after publication. Which if the SBD earned is converted to cash via exchanges, right now would net the author another USD 4,500 at the rate of 7.638 at the time of writing, as per Steem Supply.

Maybe Kai would think differently when realizing that the token-economy that is the Steem blockchain currently drives the earnings of thousands of Venezuelans, Filipinos, Indonesians, and others living in less affluent nations. That without Steem(it) actually having reached scale large enough to become a true liquid currency.

That not every token-network has gone through all hype.

Bitcoin is what banking looked like in the middle ages — “here’s your libertarian paradise, have a nice day”
~ Kai Stinchcombe

Maybe we should invite Kai to publish here on Steemit. But then again, chances are that his content, zealots as we are, may get downvoted. Which will undoubtedly lead to Kai claiming we are commie libertarian zealots.

I do agree with many of Kai’s arguments, but it are also dinosaurs naysayers like him who in the era of innovation and disruption have historically drawn the short straw.

Yet, his article, and also the comments, are worth a read. He would have enjoyed it much more if instead of 23k claps his publication had earned him USD 2.5k. I assume he would.

Can somebody now please do the fisking. Or invite Kai, I have no Facebook. We can also blast him alert and invite him via Twitter, of course, although it seems he has abandoned that platform.

Disclosure isn’t any of his strengths either. Nor is image sourcing