Well first of all, blockchain technology has become so overhyped that its bound to draw scoffs even if the business case were legitimate. "Blockchain" anything almost sounds like a joke at first pass these days.

But in this specific instance, it is even more ridiculous as one of the biggest concerns surrounding blockchain technology is that it is insanely inefficient in terms of energy usage, and concerns have been raised about how widespread usage of blockchain technology could exacerbate climate change.