In the past, large ledgers were powered by enormous mainframes or server farms located at a central point absorbing huge amounts of money and energy. Thanks to the blockchain, accounting services and the costs associated with large ledgers can now be distributed amongst the end users.
In a consumerist world bent on the desire to control who, when, how and what the consumer does with their financial resources, the blockchain provides the ultimate tool for control. I am convinced that crypto-currencies are just a ploy by the economic elite to get the public interested and used to the ideas behind block chain technology. I firmly believe non state run crypto-currencies will be outlawed much sooner than later in favor of state run blockchain services that will include currencies, identification and a slew of other monitoring/tracking applications we will all be forced to implement and pay for.
Considering the past several hundred years of economic control I can't imagine those who manage the financial markets and governments will want to do anything other than expand their control and the blockchain is the ultimate tool for that control.
I understand you perspective totally, both from historical precedents and todays technology.
....But there has never been a historical precedent for block chain. Ever.
If you think of conversations between royal courts and the clergy ,_ just before_ the Gutenberg press.... (as a comparison).
If governments adopt block chain, and regulate their own currency - and 'outlaw' other crypto's - but the people ignore the laws, make different crypto...make their own trades...
The government can only make laws if the people will obey them.
As soon as they don't, they become powerless..
The clergy et al coming down on the Gutenberg press and free distribution of the printed word, and the bible, didn't stop anything.....
an outlawed fiat based currency is worthless .. just say`n ..