I am not sure which society Mr. Jafery is referring to when making the blanket statement “As a society, we constantly challenge innovation and make fun of those who pressure the status quo.” Perhaps he where lives or perhaps in the uneducated subcultures everywhere, but here in the good old USofA, there is effectively the opposite problem. We worship innovation for its own sake and every half-wit with a marketing degree forms part of a giant megaphone constantly promoting the next new thing.

This is (understated) the case with “blockchain”. This is the marketing bandwagon of bandwagons, overfilled with carnival barkers of all stripe, most of which lack technical understanding, a weak grasp of economics, and seemingly an altogether absence of knowledge of political economy and governance.

We do, however, live in an age where “fake news” is rampant and those shouting fake news loudest are doing so at the expense of fact-checking, empirical research, and science. Cryptcurrency and, by turn, “blockchain” are almost completely subsumed into this culture.

As the fact-checking empirical research practicing New York Times reported today (no news to many of us) Bitcoin and other cryptocurrencies are fast becoming the preferred bankers for the latest bad-actor sector of ISIS and terrorism. Why? Because of the “blessing” of decentralization and blockchain.

The references to “BlackRock and Peter Thiel” are laughable and, in the case of BlackRock (hopefully) just plain uninformed. But no matter…

There are so many problems on so many levels in this post. It seems to systematically and with full abandon turn reality entirely on its head. I will close with the all-time best example:

“In reality, the internet had a hell of a time gaining widespread adoption.”

SMH. Drop the mike.