Blockchain, the Solution for Almost Nothing
Here&#x27;s a problem that blockchain solves - financial censorship.<p>If you want to buy a 4chan pass, you&#x27;ll find there is no option to pay in EUR or USD. Cryptocurrency only. Is this because 4chan is operating an illegal business? No. It&#x27;s because they cannot process payments using the traditional means.<p>Controversial websites get financially censored all the time. Here are a few that come to mind: Kiwi Farms, Wikileaks, Backpage, 8chan, Bitchute, American Renaissance. I&#x27;m sure other commentators can chime in with more. Calling blockchains a solution to nothing is pretty offensive to the those who rely on it to pay their expenses without another realistic option.<p>Not to mention, anonymous cryptocurrencies such as Monero protect both the recipient -and- the sender from financial censorship. I wouldn&#x27;t want to end up on a public list or have my bank account closed for donating to a controversial person or organization.<p>And Monero could not provide the excellent privacy that it does without a distributed ledger authenticated by proof of work. When a Monero user spends money, he randomly samples the blockchain until ten dummy transactions can be found and combined with his real transaction in a construct called a ring signature used to obscure the true sender. This only works because the user can secure his own copy of the blockchain. If he had to ask someone else for those dummy transactions, that someone else could use process of elimination to identify the authentic transaction in the user&#x27;s ring signature.