Blockchain came about because of the assumption that an internet currency must be zero-trust.

But let's look at these paragraphs:

> Blockchain stocks fail criterion #2: there being no trusted party to host the database. The fact is that if you're going to hold the shares of a company, you explicitly need to trust them - so you may as well trust them to host your database.

> For example you need to trust that their published financial statements are accurate. You also need to trust that they will try to return your investment. Traditional companies hold their own register of shareholders (they just outsource the trading) and it is a problem very, very rarely.

Currencies work because we trust that the government (IE, the thing that governs,) keeps a stable value in the currency. IE, currencies are built on trust.

Even Bitcoin relies on trust: You have to trust the source code. You have to trust that there isn't a large bad actor perpetuating a >50% attack. You have to trust that, at some point in the future, your bitcoin will be worth something. Governments have it in their best interests to keep their currency valuable. (Unless you're post-WWI Germany and it's in your best interest to hyper-inflate your currency to make your debt worthless. IE, Germany realized that hyper-inflation was preferable to the economic toll of paying off their debt.)

This lesson, that currencies only work through trust, really negates the point of cryptocurrency for general-purpose usage.