Rethinking Blockchains: A Shift from Finance to Time

The blockchain industry is at a critical juncture, with unprecedented opportunities for growth and adoption. However, this potential is being hindered by a narrow focus on financial applications and a lack of understanding of the technology's true capabilities. The current state of blockchain development is comparable to releasing a smartphone with only a notes app, neglecting the vast potential of the technology. Two major obstacles are holding blockchains back: the perception that they are solely for digital currency and financial platforms, and the fact that most projects have prioritized financialization over other uses. This has resulted in an underutilization of the technology's capabilities and the creation of an exclusive ecosystem. Blockchains are fundamentally about time, serving as a universal clock that records transactions in a transparent and tamper-proof manner. This functionality has the potential to revolutionize various aspects of our lives, from finance to supply chains, and enable the creation of fairer, faster, and more lucrative systems. To achieve this, the industry must reclaim the original ethos behind decentralized infrastructure and focus on building products that matter to people. By understanding the true purpose of blockchains, we can unlock their potential and create a world where they are indispensable to people around the globe. The time has come to shift our focus from financial opportunism to the true power of blockchains as universal timekeepers, and to build products that have a meaningful impact on people's lives.