Canton's CEO said smart contract blockchains face a "reckoning over value gap" and that if you claim to be the future plumbing of finance you'd better show the cash flow well okay: there are smart contract platforms with $10B+ mcaps generating less revenue than a mid-tier SaaS the entire valuation is based on what the network *might* do someday same thing VCs call "narrative premium" when they're being polite and "bullshit premium" when they're not the ENTIRE altcoin market is a $500 billion narrative premium attached to the idea that something other than bitcoin needs to exist that's it