Bitcoin was supposed to render financial institutions obsolete
Too ambitious. Agreed.
There’s been little to show for $1 billion in venture capital investment
Though not readily apparent, learning is an important result.
Bitcoin never resolved its constitutional crisis
That’s why everyone is exited about blockchain and not just the Bitcoin community itself.
“The Bitcoin community has become more boring,” Sirer said. “That’s a good thing. We used to see a lot of scams. There are not so many scams anymore.”
He pointed to a couple of areas where Bitcoin experiments might still bear fruit. One is in remittances.
Totally! To see this in the Indian context check out my paper.