The column “Crypto is a new asset with an old problem” (Opinion, November 21) asks a key query as to why regulators proceed to permit cryptocurrencies and the associated financialisation to persist, when it advantages a tiny handful of wealthy merchants, however brings monetary destroy and debt to legions of unsuspecting folks of common means.

I feel the reply lies partially in the truth that regulators, politicians and reporters really feel obliged to pay homage to the a lot ballyhooed promise of the underlying blockchain know-how which they don’t perceive.

The reluctance to talk up obscures the tough actuality that regardless of a few years of hype, blockchain know-how has but to supply a single professional and important use case, with the Australian Securities Exchange (ASX) debacle being the latest instance.

Ram Kelkar
Chicago, IL, US