Re:Wall Street rethinks blockchain projects as euphoria meet...
by seanalltogether on Thursday March 29, 2018 @11:22AM
(#16707764)
If there is a definitive source of trust (ie. the government) then a blockchain is a very inefficient mechanism for distribution.
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Re:Wall Street rethinks blockchain projects as euphoria meet...
by arisAlexis on Thursday March 29, 2018 @11:26AM
(#16707800)
yes very little corruption in governments worldwide and records are never counterfeited. I agree
Re:Wall Street rethinks blockchain projects as euphoria meet...
by namdnay on Thursday March 29, 2018 @11:29AM
(#16707834)
But if the government is corrupt they'll just say that the original transaction was invalid for X Y Z reasons and carry on... the truth being obvious has never been a problem for corrupt regimes
Re:Wall Street rethinks blockchain projects as euphoria meet...
by smileysteve on Thursday March 29, 2018 @11:47AM
(#16707985)
Git provides centralized version tracking that can be cloned easily -- no miners required. And authenticity, while not truly unique is likely unique enough.
Re:Wall Street rethinks blockchain projects as euphoria meet...
by seanalltogether on Thursday March 29, 2018 @11:46AM
(#16707981)
Are you suggesting governments (corrupt or not) would consider handing over the signing authority for legal processes to external anonymous parties?
Re:Wall Street rethinks blockchain projects as euphoria meet...
by visarga on Thursday March 29, 2018 @11:36AM
(#16707899)
The government will outmine everyone and change the records.
Re:Wall Street rethinks blockchain projects as euphoria meet...
by s73v3r_ on Thursday March 29, 2018 @01:42PM
(#16709141)
And how would a blockchain stop a government from putting a counterfeit record in to start?
Re:Wall Street rethinks blockchain projects as euphoria meet...
by spookthesunset on Thursday March 29, 2018 @02:19PM
(#16709565)
> And how would a blockchain stop a government from putting a counterfeit record in to start?
Or any entity? Sure you can trust that once it is in the blockchain it won't get tampered with but you still have to trust the source of that record.
... which is where all these stupid "do your inventory management on the blockchain" things fall apart with even an ounce of thought. Who gives a crap if the blockchain trustlessly says the wine was made with grapes from peru if a corruptible human had to enter it...
At some point, all data comes from humans and you have to trust those humans to do the right thing. And when those humans breech that trust, you need meatspace based institutions to sort out the mess...