I'm pro-blockchain (but not POW) ... and not really as they currently exist. I see a future with UBI, and better taxation of wealthy baked INTO the crypto so that equality is a bit more fair, and everything functions more "automated" so less bureacracy.
However, I've been wondering lately what happens in a future where the grid is destroyed by a sun storm? Say the power grids get knocked off for 21 months (I read this is a very possible scenario with a big sun flare), as well as a lot of satellites.
If we move a lot of the world's monetary systems/value to blockchain, how do we use blockchain with no internet or electricity?
Without details, the impact of a financial collapse is unknown. Given how BTC moves in connection with the broader market now, one would expect that the value would crash with the system, especially since BTC has no intrinsic value.