Thread by @joekelly100

You don’t need a blockchain to use cryptographic signatures to provide high assurances on things. 1/

You don’t need a blockchain to have programmable money and contracts which execute automatically based on some external condition being fed into them. 2/

You don’t need a blockchain to have unique mp3s, FLACs, and artworks, with a personalised message embedded in the file, to you from the artist, cryptographically signed. 3/

The only thing you need a blockchain for, and the only reason for incurring all the inefficiency and cost, is permissionlessness, censorship resistance, ungovernability, etc. 4/

It’s a strategic advantage for people who make and own stakes in these projects to keep all of the above things conflated as ‘blockchain’, but they’re separate things. 5/

You can build a better music service... try new business models... open source tech... create new ways for artists and fans to engage... automate the execution of payments and improve settlement speeds...

All without a blockchain. 6/6