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A comment on Medical records on the blockchain – the history of a bad idea. Parent comment

Re:Medical records on the blockchain – the history of a bad ... by bigiain on Thursday April 25, 2019 @08:39PM (#19753863)
> Where cash is still a better alternative.

I suspect not too many drug dealers or gun runners want to wait around 20 mins staring at their phone (with a traceable internet connection) for 2 confirmations before declaring the deal "done"...

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Re:Medical records on the blockchain – the history of a bad ... by smt88 on Thursday April 25, 2019 @10:06PM (#19754249)
I've read that it's done more like escrow. The buyer creates a new wallet, the seller verifies the amount in the wallet, and then the buyer hands over the keys when the merchandise is transferred.
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Re:Medical records on the blockchain – the history of a bad ... by bigiain on Thursday April 25, 2019 @10:39PM (#19754406)
That's smart.

The seller still needs to make sure the buyer can't get a transaction transferring the coins back into a wallet under their control confirmed before the seller can move them out.

(I'm now vaguely curious about how the financial transactions on shipping container sized sales of guns/drugs work. But I'm not about to Google _that_...)

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