We need to define the value before when we talk about the value of blockchain.

I think that there are two simple kinds of value.

1. It can bring benefits to human civilization.

2. Some people want it and pay a good price.

They are completely different, but they do not conflict with each other.

Things could be used those means to explain their value. For Examples:

Electric Power In my opinion, electric power brings benefits to human civilization. And normal people get it very cheap.

Hermès's bag From my point of view luxury goods doesn't bring anything to human civilization. But they are very very expensive.

SpaceX's rocket I honestly think that the rocket brings great benefits to human civilization, and it is very expensive.

Current the article As far as I'm concerned, this article neither brings anything to human civilization, nor no one wants to pay any price.

If you ask me what is the value of blockchain now, I need to know which value is you asked for.

I will discuss each value of blockchain below.

I try to explain blockchain in simple words. From my point of view, blockchain is a digital ownership management system base on math and cryptography. It can not modify history records. It only adds records.

Blockchain gives wallet address ownership. Every wallet address is equal. They trust each other. There is the most important thing on the blockchain.

In my way of thinking all blockchain products from the digital ownership management.

I read about how Homo sapiens won in a book. Because Homo sapiens create language, then they used language to get trust in each other. Finally, Homo sapiens gained consensus and killed Neanderthals.

To my mind, The unanimous Declaration of the thirteen united States of America was a consensus reached by the representatives of the 13 colonies after mutual trust and discussion. Currently, that consensus creates the No.1 country on the earth.

From the above two examples, I believe that consensus and trust are the cornerstones of human civilization.

But in the real world an interesting thing. Every single one of them has seven deadly sins. It is very difficult to reach a consensus through trust inside the real world.

This has led to various problems in current human civilization.

Blockchain is a natural solution to the trust and consensus problem. Human being gets one more way to build trust and consensus. This may provide an additional option for solving the problems of human civilization.

To my way of thinking blockchain will be like electric power. It will exist everywhere. It acts as a basic component for humans in the scenario of trust, consensus, and ownership. The new approach will then reconfigure the entire human organizational system. Humanity will open the next era.

Some people ask, "Why are BTC, ETH, and NFT so expensive?" The answer is very simple, some people like to pay this price to buy them. It is just a price.

If you need more explanation, I will tell you a little story:

A and B are two rich people walking in the park and suddenly find a pile of dog shit on the road. A says to B: "You eat the dog shit, and I will pay you 50 million. " B ate the dog shit and A paid already 50 million. After a while another pile of dog shit was found, B said to A: "If you dare to eat it, I will also give you 50 million. "A is heartbroken that 50 million, at the moment ate a clean. A B embraced each other and cried: "Not a penny earned, but each one ate a pile of shit."

https://iiiyu.com/2022/07/06/what-is-the-value-of-blockchain/

We need to define the value before when we talk about the value of blockchain.

I think that there are two simple kinds of value.

1. It can bring benefits to human civilization.

2. Some people want it and pay a good price.

They are completely different, but they do not conflict with each other.

Things could be used those means to explain their value. For Examples:

Electric Power In my opinion, electric power brings benefits to human civilization. And normal people get it very cheap.

Hermès's bag From my point of view luxury goods doesn't bring anything to human civilization. But they are very very expensive.

SpaceX's rocket I honestly think that the rocket brings great benefits to human civilization, and it is very expensive.

Current the article As far as I'm concerned, this article neither brings anything to human civilization, nor no one wants to pay any price.

If you ask me what is the value of blockchain now, I need to know which value is you asked for.

I will discuss each value of blockchain below.

I try to explain blockchain in simple words. From my point of view, blockchain is a digital ownership management system base on math and cryptography. It can not modify history records. It only adds records.

Blockchain gives wallet address ownership. Every wallet address is equal. They trust each other. There is the most important thing on the blockchain.

In my way of thinking all blockchain products from the digital ownership management.

I read about how Homo sapiens won in a book. Because Homo sapiens create language, then they used language to get trust in each other. Finally, Homo sapiens gained consensus and killed Neanderthals.

To my mind, The unanimous Declaration of the thirteen united States of America was a consensus reached by the representatives of the 13 colonies after mutual trust and discussion. Currently, that consensus creates the No.1 country on the earth.

From the above two examples, I believe that consensus and trust are the cornerstones of human civilization.

But in the real world an interesting thing. Every single one of them has seven deadly sins. It is very difficult to reach a consensus through trust inside the real world.

This has led to various problems in current human civilization.

Blockchain is a natural solution to the trust and consensus problem. Human being gets one more way to build trust and consensus. This may provide an additional option for solving the problems of human civilization.

To my way of thinking blockchain will be like electric power. It will exist everywhere. It acts as a basic component for humans in the scenario of trust, consensus, and ownership. The new approach will then reconfigure the entire human organizational system. Humanity will open the next era.

Some people ask, "Why are BTC, ETH, and NFT so expensive?" The answer is very simple, some people like to pay this price to buy them. It is just a price.

If you need more explanation, I will tell you a little story:

A and B are two rich people walking in the park and suddenly find a pile of dog shit on the road. A says to B: "You eat the dog shit, and I will pay you 50 million. " B ate the dog shit and A paid already 50 million. After a while another pile of dog shit was found, B said to A: "If you dare to eat it, I will also give you 50 million. "A is heartbroken that 50 million, at the moment ate a clean. A B embraced each other and cried: "Not a penny earned, but each one ate a pile of shit."

https://iiiyu.com/2022/07/06/what-is-the-value-of-blockchain/