Davos Elites Still Don't Get Blockchain

When it comes to understanding the value proposition of blockchain technology and drawing conclusions that "it's not useful for anything," the biggest problem of this blinkered mindset is that it fails to recognize the cost of trust.

Krugman is right to say that expensive mining and the need to retain multiple copies of the same transaction record across distributed networks are "clunky" and "costly" aspects of blockchain technology... the [best] rejoinder is: "Compared to what?"