[DrScientist]

> The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc.

Eh? I thought blockchain didn't scale? As far as I can see blockchain swaps trust in banking institutions ( not to simply make up numbers in their banking systems ) - to trust in a majority based voting system where you don't know the people involved and you just hope the bad guys don't have a majority.

And the computational cost of running the distributed voting system - is many of orders magnitude higher than the computational costs of transactions in the we-trust-the-bank-model.

As for smart contracts - a quick google suggests that the cost of deploying a smart contract on Ethereum is 500 dollars - that's quite an overhead for the vast majority of financial transactions.