Re:Ask HN: What blockchain or crypto related companies have ...
by mkirklions on Monday July 23, 2018 @09:23AM
(#17592522)
Id seriously take the time to research blockchain technology.
I'm huge fan of Bitcoin as a worldwide store of value. I dont know if altcoins have much purpose.
Blockchain enables decentralized verification. This means you have ~7 computers that all agree that data that was submitted was real.
This makes sense for currency, voting, and timestamps. I dont know if it makes sense for things like:
>Social Media
>Medical Records
>Logistics(because garbage in garbage out)
>video games
>videos/media
Because why would facebook lie about your 4th of july photos? Why would steam lie about your saved game?
If they did, people might pay 7 computers to signoff on data. This is expensive and time consuming.
If I have a bad understanding of the potentials of blockchain, someone please correct me, I'd rather be correct than wrong. I have been working on my own finance tech and I decided against blockchain for the expenses described.
I'm huge fan of Bitcoin as a worldwide store of value. I dont know if altcoins have much purpose.
Blockchain enables decentralized verification. This means you have ~7 computers that all agree that data that was submitted was real.
This makes sense for currency, voting, and timestamps. I dont know if it makes sense for things like:
>Social Media
>Medical Records
>Logistics(because garbage in garbage out)
>video games
>videos/media
Because why would facebook lie about your 4th of july photos? Why would steam lie about your saved game?
If they did, people might pay 7 computers to signoff on data. This is expensive and time consuming.
If I have a bad understanding of the potentials of blockchain, someone please correct me, I'd rather be correct than wrong. I have been working on my own finance tech and I decided against blockchain for the expenses described.