Blockchain does not scale. Bitcoin mining heedlessly uses energy. More and more so, as the chain grows to impractical validation tree levels. Complaints exist against some crypto firms. FTX customers suffer. Blockchain has been critiqued by those knowing more than I do.
Trust:
An item on trust is an eyeopener.
You take cash or a Visa card to Walmart, you can exchange money for merchandise.
Can you take Bitcoin to Walmart and get goods?
Already a trustworthy mechanism exists. Checking Visa billings, you can find billing error and get it fixed. If a restaurant submits an error, you can get it fixed.
If Walmart or other retailers keep records of what you've bought there via Visa card transaction, do you care? If so, take cash, use cash.
What then does crypto offer other than a chance to be taken for a ride?
If a business building and using a private blockchain approach for an internal use, is it necessary or just an affectation?
I don't need crypto in my life, and its failure to scale makes it inappropriate for CBDC implementation, where vastness would dwarf Bitcoin's blockchain alone.
If you cannot buy with crypto, its value fluctuates with great volatility so it is not banking, and if risk is a worry use banks, or trade bonds and equities via SEC regulated exchanges and broker-dealers.
Money can buy you love, but that's a problem and not a blessing. Related links here and here.
More thing are yet to be read so that this is an interim report. So far blind impressions going into web searching have been largely confirmed. Prior to any study, the view was why trust it, it is unnecessary as a well tested fiat money exists, and that still is valid as an outlook.
Yet I keep an open mind, given that my MN6 Rep, Tom Emmer, is a leadership figure in the House blockchain caucus, and also House Republican Whip.
His public stances are clearly pro-crypto and pro-blockchain. I am trying not to be too quick to be dismissive of something he strongly endorses and supports.
Gather more evidence.