Most of the people on hacker news, myself included, aren’t skeptical of the technologicy of block chain. I grant Block Chain’s central technical premise, no other medium/platform/whatever can create decentralized trust wherein all you have to trust is the network. Where I think most of the criticism comes from is that many of us don’t see why this decentralization is actually all that valuable. Currency seems like the most likely candidate, but even it has proven finicky. What efficiencies are gained from decentralized trust. I’m skeptical that decentralized trust creates that much of an improvement.

Case-in-point: Block chain for supply chain problems was touted and hyped a few years ago, only to fall flat on its face. Why? For most companies decentralized trust in their supply chain didn’t provide that much of a benefit. I know a bit about supply chains, and from what I have heard from most supply chain experts (yes I know a fair number of supply chain experts) centrally managed trust works fine for them.

That’s the extrapolated crux of the issue. I am open to being proven wrong, but so far no one has ever been able to calmly explain to me what fields would see a 10x improvement from decentralized trust.

We’ve been dealing with centrally authenticated trust and decentralized unauthenticated trust for 100k+ years as a species. Block chain promises decentralized authenticated trust and it delivers, but why should I care? Is it actually going to be beneficial. No one can argue that the jury is still out.