News for hackers. Stuff that matters.

A comment on The blockchain paradox: Why DLTs may do little to transform the economy.

Re:The blockchain paradox: Why DLTs may do little to transfo... by leitasat on Wednesday June 14, 2017 @09:49AM (#14552656)
Well, there are some improvements over existing systems (e.g. fiat money):

1. Less costs to switch to a competitor comparing to banks and states which leads to 2. The governance body and all influential members are really in need of public approval of their actions since that is exactly what makes a coin worthy. If they change protocol in a drastic way, the price will immediately plummet leaving them in tatters 3. Same mechanism prevents conflicts within the community

In general I would like to see more about the role of law in economics and possible tech implementations of it (meta-protocols?)

[ Parent | on HN ]
Re:The blockchain paradox: Why DLTs may do little to transfo... by KirinDave on Wednesday June 14, 2017 @11:11AM (#14553305)
If we're talking about "mass" adoption, which suggests consumer-level adoption?

Point #1 is exactly not what you want. It means your currency can lose value almost instantly. Fiat currencies can do this, but only rarely actually do.

[ Parent | on HN ]