I know exactly how blockchain works, I'm a cybersecurity architect and engineer and I worked on a few bitcoin implementations and worked with a hedge fund manager on bitcoin. Very few people understand the big picture. No you don't understand the full picture of fraud. e.g. If today I pay you with bitcoin and you don't send me the stuff you owe me I'm screwed without jumping through hoops. The smart contract is not yet implemented in any way that I can see a regular person using it at this time. So stop thinking that you know everything and other people are idiots. Technologies fail because they are not implemented in a way that is consistent with people's behavior, the infrastructure available the economics. You don't appear to know that because you are so convinced you know everything.