I think that there are numerous advantages of blockchain-based dApplications and companies over cloud-based computing and also some disadvantages:
Blockchain advantages:
- Decentralisation: No central authority and no reliance on a third party, allowing censorship-free and authority-resistant applications and companies to be built.
- Transparency: Blockchain dApps have a potential advantage in transparency, since all blocks and thus all actions could be visible to all users. This could help prevent fraud and corporate responsibility.
- Structure: With smart contracts blockchain dApps have the potential to take on all kinds of new structures. In particular this should bring innovation in relation to ownership and the raising of capital.
- Economics: Blockchain dApps can come with their own currencies, allowing organisers to determine the economics of each individual company, as well as new payment methods.
- Scale: Blockchain should allow micro-transactions, but also micro-ownership of dApps.
Disadvantages:
- Lack of speed and scale: Currently these are the big challenges, although they are not insurmountable.
- Lack of stability: A new economic system is not going to work is it cannot bring some level of stability against real-world goods.
- Trust and fraud: Although smart contracts should widen the trustless environment to dApps there are still large numbers of new crypto scams. Work is required in this area.
Overall the system is still young, particularly in relation to dApps. Hopefully there's lots more to come!