I'm thinking more about the companies that do the conversion. I look at https://bittylicious.com and think "Would I want to give £10k to this website?" That's a whole lotta trust - something I'm not good at.
I also didn't use the word corrupt. They could cease trading for a number of reasons - not just corruption.
Blockchain is a revolution that's going to be used in many areas for transactions and documentation (passports, birth certificates, data storage etc). There was a lot of buzz about it at Web Summit when I was there a couple of weeks ago. What isn't necessarily here to stay are many of the currencies themselves.
The tech around storing and transacting is very simple, basic cryptography. What scares me are blips like this: http://fortune.com/2017/11/11/ethereum-parity-wallet-web-summit/
One guy had the power to halt the currency in its tracks. Should a currency end/fail/whatever - what use is a paper wallet then? My money is safe...but I can't sell it for something that will buy me a loaf of bread.
I also look at the CVEs for Bitcoin which although old, indicate past vulnerabilities in the core.
I predict that current currencies will have an expanding fan base and growing worth for the next 3-4 years whilst governments rush to keep up and launch sovereign blockchain currencies which consumers will have greater confidence in and some form of regulation/guarantees. I know that will defeat the whole idea of "it's open and uncontrolled" - but that was the idea of the Internet in the first place, it didn't stop governments from ruining that did it?
What are your thoughts on this: Governments and the old boys club hate new money, if they can't control it they will do anything they can to kerb it.
You've worked in the insurance industry long enough to figure out it's pretty much underwritten and run by just a few old boys in London. Are we really seeing an end to "the establishment"? (As an aside, now they'll no longer be shackled by the chains of EU regulation they can do whatever they like)