The primary issue is not necessarily the size of the blocks, but rather the required broadcasting and storing of main chain transactions on every network node, which cannot scale to match high-frequency payment systems such as Uber's. To address this challenge, solutions like Lightning and possibly Ark have been proposed, both of which hinge on the implementation of covenant technology.

Covenant technology, which can be any type without much debate over preferences as that would be inconsequential at this stage, is essential for scaling because it allows multiple users to share unspent transaction outputs (UTXOs) while retaining control over their assets. This shared control mechanism enables more efficient use of the blockchain by grouping transactions, thus reducing the load on the main chain without compromising the security or sovereignty of individual holdings.

In summary, blockchain scalability is constrained not by the block size but by the inefficiencies in handling transactions at scale. Innovative solutions utilizing covenant technology offer a promising avenue for overcoming these limitations, ensuring that blockchain can support high-frequency transaction systems without sacrificing user independence or asset security.