Proof of Usefulness Report

BlockFi

Analysis completed on 1/15/2026

+26
Proof of Usefulness Score
You're In Business

BlockFi was a major player in the crypto lending space, but the project is currently bankrupt and operational services have ceased. While historically significant with high traction, the current real-world utility is negligible. The submission includes hyperbolic claims regarding audience reach ('everyone') and conflates valuation with revenue, resulting in a low score reflecting its defunct status and poor submission quality.

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Score Breakdown

Real World Utility+1
Audience Reach Impact+6
Technical Innovation+11
Evidence Of Traction+6
Market Timing Relevance+0
Functional Completeness+0
Subtotal+25
Usefulness Multiplierx1.02
Final Score+26

Project Details

Project URL
blockfi.com
Description
BlockFi, accessible through its domain blockfi.com, was a financial services company that provided cryptocurrency-based financial products. Founded in 2017, BlockFi offered a range of services including interest-bearing cryptocurrency accounts, crypto-backed loans, and trading services. The company aimed to bridge the gap between traditional finance and the emerging digital asset ecosystem by providing innovative solutions for both retail and institutional clients. BlockFi was known for its user-friendly platform that allowed users to earn interest on their crypto holdings and access liquidity without having to sell their assets. However, it's important to note that as of late 2022, BlockFi faced significant financial challenges and filed for bankruptcy, which impacted its operations and services.
Audience Reach
everyone
Target Users
everyone
Technologies
Banking, Blockchain, Investing
Traction Evidence
most people have used my product

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline