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A comment on My professional opinion as a blockchain researcher: I don’t see the point (yet). Parent comment

Re:My professional opinion as a blockchain researcher: I don... by BeetleB on Monday February 12, 2018 @11:10AM (#16359547)
The only thing you have done is emphasize the need to answer his question. When he does an inter-bank transfer, why does it take 3 days for to clear?

I did something similar a few days ago, and while it didn't take 3 days, it did take over a day.

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Re:My professional opinion as a blockchain researcher: I don... by JumpCrisscross on Monday February 12, 2018 @11:17AM (#16359599)
> When he does an inter-bank transfer, why does it take 3 days for to clear?

They chose the cheap, safe option over the fast, risky one. I talked about the difference between net and real-time gross settlement in an earlier comment [1]. TL; DR There is a fundamental trade-off between mutability, speed and cost.

[1] https://news.ycombinator.com/item?id=16154956#16155708

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Re:My professional opinion as a blockchain researcher: I don... by bluetwo on Monday February 12, 2018 @01:08PM (#16360501)
That is 1) to prevent fraud (see "check kiting") and 2) so the holding institution can collect the interest for the day.

This is not a technology problem. Blockchain won't change either of these.

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Re:My professional opinion as a blockchain researcher: I don... by nawitus on Monday February 12, 2018 @02:28PM (#16361260)
A blockchain certainly change that. If a bank does something for non-technological reasons, it's possible that a blockchain does something else.
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