Earlier quoted context omitted.
Although I take slight issue with how you've worded it, I think I'm in agreement. I'll attempt to add clarification to the parts I find difficult to parse. Blockchains only ensure that coins are never spent twice. They make no attempts to ensure that coins are sent to the correct recipients. At the end of the block, they only care that debits are equal to credits. This can be confusing because the term "double spend"…
> Blockchains only ensure that coins are never spent twice. They make no attempts to ensure that coins are sent to the correct recipients. At the end of the block, they only care that debits are equal to credits. I know the origin is tightly linked to bitcoin, but I feel like even this muddies the definition. Blockchains are not implicitly related to "coins", more facts? contracts? Maybe that's a useless nit to pick,…
(In other words: yes, you've got it exactly right, but there are some details around incentives that tie creation of blocks to receiving some kind of benefit which mean that in practice someone will reduce things to money at some point)