The possibility of remaking the financial system with the blockchain

said the blockchain expert.

yeah... just like the "sharing economy" was going to take over the world.

You don't think that the peer-to-peer sharing of news and other online content has had a significant effect on politics, business, and society?

Every time I see someone claiming that no one thought the internet would succeed by pointing out that newsweek article I wonder if they are even old enough to remember the mid 90s. I get that it would be regional but in the Toronto area in the mid-90s everyone I knew wanted to try the web and email it was often just expensive or a pain in the ass to do so.

Having scanned through the article they basically point out why their premise is wrong. "lawyers argue that regulation through code alone is inflexible and doesn’t permit any role for useful discretion".

>In the case of cryptocurrencies, we’re seeing far more aggressive investments of venture capital than we did for the internet during similar early stages of development.

Also this is provably wrong. Blockchain VC sits at around 2b over the course of 8 years and it has basically all but dried up. Internet companies had passed that by 96 after 2 years. 8 years after the start of the commercial internet was 2002.

First we need to figure out smart contracts and educate folks on how capability security works.