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It is for this reason that a blockchain is only useful within the application of money, and money does not magically grow on trees. Yep, it is that simple. A blockchain is only good for one thing, removing the need for a trusted third-party which only works in the context of money. A blockchain cannot enforce anything that exists outside the network. While a blockchain would seem to be able to track ownership outside the network, it can only enforce ownership of the currency that is native to its network. Bitcoin tracks ownership and enforces ownership. If a blockchain cannot do both, any records it keeps will be inherently insecure and ultimately subject to change. In this sense, immutability is not an inherent trait of a blockchain but instead, an emergent property. And if a blockchain is not immutable, its currency will never be viable as a form of money because transfer and final settlement will never be reliably possible. 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For the first time since the advent of the credit card in the 1960s, we have a technology that radically modernizes money. Bitcoin the digital currency and its clearing network are open source, mobile, peer-to-peer, cryptographically protected...