> With blockchains or distributed ledger technology in general you can replace an organization of people with code and logic.
I call BS on this. What application can replace people with logic attached to blockchain that also can't do the same with a simple database and code? (And I mean people doing useful work, not bureaucracy which hasn't been automated with macros yet) Blockchain is just a very slow database with distributed consensus. Apart from pure value transfer, what's the use case here where it's actually necessary?
Of course you can always use traditional databases and code to implement the functionality but then you need someone who runs the code! Even if all code is open source you need a way to verify that the code is actually running, which generally translates into trusting a third party – the company in question (e.g., uber). The third party can be completely removed with DLT — that‘s the unique feature. You don’t need companies anymore but can have direct interactions between users facilitated by a smart contract.
I call BS on this. What application can replace people with logic attached to blockchain that also can't do the same with a simple database and code? (And I mean people doing useful work, not bureaucracy which hasn't been automated with macros yet) Blockchain is just a very slow database with distributed consensus. Apart from pure value transfer, what's the use case here where it's actually necessary?