Code is a mathematical concept not a physical reality. If you attempt to attach real world things to a blockchain, the utility is contaminated and rendered obsolete. Therefore, it is without any input from reality that gives blockchain value.
Money isn’t real. Math is an abstraction. Blockchain can function as a transactional proof because people agree on code. The blockchain can be valuable only through people’s agreements.
Attempting to attach real world assets to a blockchain is opening up mathematics to subjective proofs, namely– humans.
Stay Tuned For My Next Article: Blockchain as a Time Oracle
See my writeup on “Stable Coins”.
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