Re:How Blockchain Works
by qnmaster on Wednesday September 26, 2018 @08:16PM
(#18081316)
>as opposed to authorities signing current state
That's what it solves. It removes the need for trust and dependence in a central authority. There's no central actor to hack, or that can abuse the system, or be compelled to censor.
Consider Paypal. They're obligated to follow the regulations of every single government whose citizens they serve. Paypal themselves can also make value judgements. That severely limits who can use the system, for what purposes, in what quantities, and how frequently.
That's what it solves. It removes the need for trust and dependence in a central authority. There's no central actor to hack, or that can abuse the system, or be compelled to censor.
Consider Paypal. They're obligated to follow the regulations of every single government whose citizens they serve. Paypal themselves can also make value judgements. That severely limits who can use the system, for what purposes, in what quantities, and how frequently.