I got my start trading for one of the big commodity shops. The problem isn’t incentive. Markets create natural incentives. The problem is authority. Who decides what’s right? Who decides what constitutes “solved”?
Blockchain or smart contracts have no way to solve this without abandoning the decentralized and permissionless aspects, at which point you’re giving up loads of efficiency for none of the benefits.
This is the problem that every large non speculation based blockchain problem has encountered: any system will be reduced to its weakest link. Any problem that requires crossing off chain into the real world will necessarily lose many of any benefits blockchain can provide.
Blockchain really only solves a few specific problems in a few specific domains. There’s a reason that a decade on, all we’ve managed to build are massive casinos that can’t be shut down by authorities
Blockchain or smart contracts have no way to solve this without abandoning the decentralized and permissionless aspects, at which point you’re giving up loads of efficiency for none of the benefits.
This is the problem that every large non speculation based blockchain problem has encountered: any system will be reduced to its weakest link. Any problem that requires crossing off chain into the real world will necessarily lose many of any benefits blockchain can provide.
Blockchain really only solves a few specific problems in a few specific domains. There’s a reason that a decade on, all we’ve managed to build are massive casinos that can’t be shut down by authorities