This is quite a good overview of the subject, features, issues and the platforms. And one that mostly lives up to the “Unhyped” self-reference.

However, the elephants in the room of the piece are left ignored.

1. It has taken approximately 30 years before “Blockchain”, aka Merkle Tree, found a use case. And this article points out that the future arrived and failed and just keeps trying.

2. The “innovation” of DApps has no major use case after billions of dollars, thousands of whitepapers, trillions of lines of code, and infinite amounts of hype

3. The main tenet of the belief system – “Decentralization” – is simply a belief that is patently unattainable and a complete fiction/self-deception

I have written extensively on these here on Medium and elsewhere and I welcome any comment or correction.

I have read and heard lengthy discourses on presumed virtues of a “decentralized” world. And I have been an active participant. But leaving aside the functional features, use cases, etc. a key assumption is essentially a conspiracy theory the lumps western liberal democratic systems and belief in human rights with totalitarian, autocratic and kleptocratic ones. Or, more frequently, the only target that requires the subversive power of “decentralization” is western liberal democracy.

One could discourse on the functioning, features and use cases of Zyklon B and leave out a very significant one.

If there is one thing missing from Mr. Holovsky’s otherwise thorough and mostly accurate document is: Cui Bono? Who benefits and, even more importantly, what system?