[skywhopper]

Good article. A blockchain can only protect systems that it encodes directly. And for the simple cash transactions that's easy enough. But humans can, have, and will devise all sorts of derivative financial instruments to amplify the utility of assets, and no mathematical system can encode all the arbitrary possibilities that implies into their structure beforehand.

Instead, we're back where we started where legalities and regulations matter and the reliability of your durable ledger is limited to the transactions it actually captures.