The document discusses the scope of blockchain technology in finance in light of the recent downturn in cryptocurrency markets. While cryptocurrencies have plunged to new lows, blockchain still has applications in finance through tools like smart contracts that can enable new types of financial instruments and more accessible lending. Blockchain networks like Ripple that are designed for banking could allow for much faster and cheaper international payments without requiring traditional bank accounts. However, for blockchains to truly realize their potential to decentralize trust, cryptocurrencies may need to continue operating outside government and corporate control.