Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by kvakva on Tuesday July 10, 2018 @05:26AM
(#17496503)
1. This was clearly true in the beggings now to so much. Scalability is hard issue which centralized solutions doesn't have.
Existing solutions also evolve and has become cheaper, faster and more accessible. Sure there are exceptions like political dissidents but that's relatively small group. If you would like to solve this issues on large scales like Venezuela than solutions would be mostly political rather than technical.
Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by perl4ever on Monday July 09, 2018 @11:03PM
(#17495115)
"1) cheaper financial services"
If a million people want to deal with each other without any trusted party to intermediate, then they have to keep a million ledgers and agree on a protocol for reconciliation. Once you've conceded over a million-fold factor of inefficiency, being cheaper doesn't seem plausibly within reach. I don't see the details as mattering much; it's the big picture that doesn't make sense.
1) cheaper financial services 2) broader financial services 3) real-time financial services 4) access to financial services regardless of location (or nation) 5) decentralized applications fully integrated with financial services
The average Joe doesn't need to control their own private keys in order to gain these benefits.
But think of it this way. What would be more difficult, for an organization or company, today?
A) start your own bank B) start your own key management service
A) make an application that accepts payments as low as $0.01 B) make an application that accepts payments as low as .001 ETH
A) create a new protocol layer on top of the banking system B) create a new protocol layer on top of Ethereum
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Today, we rely on perhaps at most a few dozen companies (PayPal, Stripe, VISA, MC, etc) to build interfaces with our banking system.
There is no "app store" for banking system financial services. It's hard, hard work to build anything on top of that archaic system.
Blockchain makes currency an internet-native construct. Which has profound implications that we are just beginning to see the very earliest examples of.