Re:There's No Good Reason to Trust Blockchain Technology
by as300 on Wednesday February 06, 2019 @04:20PM
(#19100092)
> I think that much simpler solutions would be sufficient and should be purpose built. I also wish it would die soon.
100% agree. If you look at all of the current blockchain "use-cases" you will find that many of them (e.g. Ripple and Corda) are simply centralized/semi-centralized solutions that have been around for years (in the distributed-systems literature) masquerading a blockchain solutions.
In a sense the blockchain craze is good as it's getting institutions such as banks to modernize their systems and make it so that a regional bank doesn't need to wait 5-7 days to transfer money, but examples like this are few and far between and for the most part people are using the idea to drain money from undereducated/uncritical people.
100% agree. If you look at all of the current blockchain "use-cases" you will find that many of them (e.g. Ripple and Corda) are simply centralized/semi-centralized solutions that have been around for years (in the distributed-systems literature) masquerading a blockchain solutions.
In a sense the blockchain craze is good as it's getting institutions such as banks to modernize their systems and make it so that a regional bank doesn't need to wait 5-7 days to transfer money, but examples like this are few and far between and for the most part people are using the idea to drain money from undereducated/uncritical people.