Am I ignorant? You tell me, but reading a bit about blockchain in recent days left me wondering which problem it actually solves.
Bitcoin and cryptocurrencies
If I am right the whole thing was invented first for cryptocurrencies: The aim was to circumvent central banks that are able to control the value of money. One has to understand that there was a big crisis going on back then that cost quite some job and existence, even a bigger bank broke down.
So I guess this played a role in longing for a currency that was transparent and clear. More than a decade later this currency has become subject to speculation. It is not so much used as currency, more like a lottery - while causing energy consumption like a middle sized industrialised country, with only the sky as the limit.
There might have been times when bitcoin was really used to buy stuff - like drugs, arms, you name it.
And yes I know, one maybe needs to change some of the algorithm to have a working currency. But this would need to be shown and honestly: I don't expect it. Because whatever rules you set up, you cannot take into account all possible eventualities beforehand. And with being spread all over the world, bugfixing might not be possible as fast as necessary.
Except you centralise control more, which would lead you back to the central banks we have today. If you live in a free democracy you even have some influence with your vote. In cryptocurrencies you have no influence. All follow the protocol of their blockchain.
So basically it's all about trust and power. The best solution I know to this problem is democracy, and not a certain technology.
dapps
I keep reading about "distributed" web apps. And I keep wondering: Why distributed? Aren't they just mirrored, as the blockchain exists at several places?
Distribution as I first heard about it is implemented in Services like Diaspora, Hubzilla or Peertube: you host your own server which communicates with other servers of your friends. This is to have your data under your control and not that of google or Facebook. You decide what leaves your server and why.
With dapps, if I understand them right, it's all (?) in the blockchain and thus in the open. Everybody can read it, not only amazon and apple.
But I think they try to solve a different problem: What if the government shuts your server down?
Well, stuff might be gone, that's right.
But if everything is in the blockchain, you have your stuff out in the open, supposingly forever. On the other hand I read odysee could take down content. So it's not in the blockchain? Then government can come as well, so nothing gained but a giant blockchain that is mirrored to many different places, wasting storage and energy.
Other
While reading I came across a project called humaniq. At first I found it interesting: Fighting poverty and for giving people a chance to succeed is something I support.
But reading through their Whitepaper I couldn't help but think the solution came before the problem. Did they want to apply blockchain to something and end up with the unbanked?
Why not found banks there? Grant microcredits? I am sure lending money is a thing there already, even without proper id documents. There are solutions to this without blockchain and without the need to supply them with smartphones first. Also... I don't know but I wonder how internet connectivity is is such places.
Conclusion
I admit I have only just scratched the surface, but the more I read the more I think "why would you need blockchain for that?" You can use a shovel to drive a nail into the wall, but I'd say a hammer is more convenient.
So either this whole blockchain/dlt thing is buzz at the most part or I am missing something important. Tell me, what is it I am missing? What is it that makes having full copies of your database spread publicly all over the world a decent design decision?
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