If you go out seeking to learn from their proponents why
blockchains and the systems built atop them are apparently the
future of our web, you’ll begin to see some common themes. Two of
the ones I see most frequently are:
Decentralization: data in blockchains are distributed across
innumerable servers run by innumerable people and organizations,
rather than stored on servers controlled by one organization
Immutability: what is written to a blockchain cannot be changed
or deleted, unlike more traditional databases
These fall apart under further scrutiny. [...]
Blockchain technologies have somehow managed to land in the
worst of both worlds — decentralized but not really, immutable
but not really.
A cogent read.