What product do blockchains deliver?

This article discusses the mistaken belief among some industries that their product is their delivery mechanism, using examples like Bloomberg, Kodak, and newspapers to illustrate the concept. Michael Bloomberg recognized that his actual product was information, not the terminal hardware. Similarly, the article raises questions about whether the crypto industry is making the same mistake by confusing the product of blockchain technology with the delivery method. Bitcoin is viewed by some as a store of value, while others argue it also embodies decentralization and censorship resistance. Ethereum’s unclear product offering, as it may encompass various uses like blockspace and a store of value, suggests potential confusion. Solana is presented as a clearer case where the community focuses on speed and decentralization, yet the underlying question remains whether blockchain technology itself has intrinsic value or merely serves as a delivery device. Ultimately, the article suggests that the true product of blockchains includes ownership, coordination, and permissionless access, emphasizing the need for the industry to keep these as the main focus.

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