Sorry, no help at all.
First, in what way is this system superior to the completely effortless way I now spend money, receive money, make transactions, and keep financial records?
Second, blockchain advocates often claim it will be much cheaper than banks and credit cards. My first thought - who is storing and verifying all this data for free, and why should I trust them?
Sorry, no help at all.
Same here. Still 100% gibberish.
This explanation makes it sound like blockchain not only depends on every human being having astronomical computing power, but astronomically increasing astronomical computing power. I'm also wondering how well this works in an environment where identity theft is rampant and cybersecurity is in such a state of decrepitude that even most CPUs in common use are compromised. Blockchain (whatever it is) is only of interest if it solves the problem of nonexistent cybersecurity—as opposed to depending on cybersecurity that we don't have.
I once read a physics book, intended for the general public, that tried to explain string theory. Blockchain seems to be in the same category.