Most markets require digital and external information to fully function. This limits the application of blockchain technology in existing markets.   

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- Last Mile Issues
- Online and Offline Connection is Not Easily Feasible
- Costless Verification is Hard to Achieve in the Real World

Disadvantages of Cost Verification on the Blockchain

Catalini, C., & Gans, J. S. (2020). Some simple economics of the blockchain. Communications of the ACM, 63(7), 80-90.

Some Simple Economics of the Blockchain

Connecting offline transactions to online ledgers is very expensive and requires third parties. New smart contracts that dictate which data can be shared are also required. 

Lack of Technology Infrastructure that Translates to the Blockchain

Last Mile Issues on the Blockchain

When transactions are digital representations of real products or services, costless verification is not easy to achieve due to the many parties needed for verification.

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