NFTs (Not just art but concert tickets like GET protocol, gaming like Axie Infinity, collectibles like Crypto Punks, etc)
DAOs (Internet scale corporations/governments)
Identity systems (ENS, BrightID, Proof of Humanity, etc which allow for supranational products that build on top of reputation and uniqueness. The Sign-In With Ethereum standard is bringing self-custody OAuth authentication to Web 2.0 applications)
Enterprise interoperability (Baseline)
There's a ton of stuff going on and it's almost impossible for any one person to keep up with everything. It's easy to write everything off as a scam but there's hundreds of thousands of really smart and high integrity developers working in this space and it's worth keeping an eye on.
There's also interesting things going on in the NFT space towards MMORPGs based around an economy of in game items being themselves NFT's. It's not all stuff and nonsense and jpeg millionaires lol :)
Some of it is, surely, but as time goes on more and more technologies will use it to greater effect with more utility beyond merely, "prices go up".
The purpose of blockchain is decentralised consensus for the Bitcoin protocol. It has fulfilled that function very well for the last ~12 years.
There MAY be other legitimate use cases, but the majority of them right now are varying degrees of money grabbing scams or cargo-cults.
The current bitcoin transaction fee is more than 100x what my bank charges, so no, not really.
A bitcoin transaction is settled as soon as the block is mined. Without any third parties or trust involved, and no way to reverse the transaction. While a bank transaction could settle in days and always with some trusted third party.
Try making a transaction over the lightning network (layer 2 tech of bitcoin), it’s instantly settled and almost for free. The whole country of El Salvador is making transactions within the country using this technology and they’re getting remittance from outside the country far cheaper than banks.
It boggles my mind that people genuinely believe this is a good thing, especially in an ecosystem so rife with scammers.
I get that it's rather integral to the primary use cases of bitcoin, but that doesn't mean you have to pretend it's a good thing when marketing the currency to the average joe as a PayPal replacement.
Because there's absolutely no protection against fraud. This is somewhat of a problem when there's such a gigantic amount of fraud going on.
> You have to accept responsibility when making transactions
Yes, and so does the other party.
What irreversible transactions do is give the receiving party the ability to shirk all responsibilities, because it's significantly more difficult (if not impossible) to hold them to account.
Is there any non currency use case of blockchain?