&quot;VISA does 56,000 tps.&quot;<p>That&#x27;s what I keep telling them. The whole of credit processing and banking... even the Fed... runs on centralized, transactional architectures with redundant datacenters and optionally redundant checks from mutually-distrusting parties. What people want to do can be built on a highly-efficient, log-based system with distributed checking run by a foundation (or international collaboration) in a neutral country. It would be simpler, more secure, use less energy, faster, and so on. Additionally, we can choose what level of detail we want in reporting or auditing to reduce data overload.<p>These blockchain models want everything to go on a blockchain whose operational hurdles even they can&#x27;t agree on. It&#x27;s like this subfield of IT is ignoring simple solutions to simple problems while pushing complex solutions with complex problems.<p>So, I add to your own question: what is it about a smart contract on Bitcoin or Ethereum that couldn&#x27;t be done with a signed email or website document optionally run through a few cryptographic notaries? The latter is not only simpler and more efficient: it&#x27;s in use commercially with many courts already approving of concepts and some implementations.