Re:Forty Big Banks Test Blockchain-Based Bond Trading System
by aback on Thursday March 03, 2016 @03:56PM
(#11219979)
What is the incentive to mine the real estate blockchain? Does it pay out a free house every 10 minutes?
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Re:Forty Big Banks Test Blockchain-Based Bond Trading System
by greggyb on Thursday March 03, 2016 @04:00PM
(#11220002)
Probably transaction fees? There's no reason a blockchain must be self-funded through proof-of-work mining.
To my understanding, the expected future state of Bitcoin is that the role currently filled by miners will be replaced by transaction processors who take a fee to do the work.
Re:Forty Big Banks Test Blockchain-Based Bond Trading System
by dbcurtis on Thursday March 03, 2016 @05:26PM
(#11220546)
It's not about the mining!!!! Block chain is about having an immutable, non-repudiatable transaction record.
Block chain is a wheel.... guess what, wheels have uses far beyond the Pharaoh's war chariots. Like, you know, bicycles and automobiles. Stop conflating block chain and crypto-currency.
Re:Forty Big Banks Test Blockchain-Based Bond Trading System
by asbromberg on Thursday March 03, 2016 @05:33PM
(#11220594)
It is about the mining though. The mining is what makes the blockchain immutable. How do you propose making it immutable without that feature?