Re:Litmus tests for using blockchain vs. relational database
by aey on Sunday May 26, 2019 @12:32AM
(#20013164)
Generally enforcement has really high legal costs. My partners small business was ripped of by about $10k in product by a Canadian company. There is basically no recourse that wouldn’t cost more.
If a “60 day net” contract could be encoded on chain, and automatically execute as the products are sold, that would have reduced the risks and enforcement costs.
Re:Litmus tests for using blockchain vs. relational database
by around_here on Sunday May 26, 2019 @08:00PM
(#20018452)
Dispute resolution will still be just as difficult.
Re:Litmus tests for using blockchain vs. relational database
by aey on Monday May 27, 2019 @04:45PM
(#20025129)
Sure, but if the manufacturers net their share as soon as the item is sold at a store, we reduce the opportunity for fraud.
This won’t work for everything, but it could work well for high mark up items that rely on brand authenticity or warranties.
Most real-world uses of blockchains (illegal dealings, adversarial relationship with the local nation-state, currency speculation & trading, gambling games) take advantage of this property. If you don't need it, you're almost always better off with an RDBMS, because you pay a heavy price in latency, transaction scalability, and data modeling for it.
Can't think of any business where you wouldn't trust your counterparties? That makes perfect sense, because people today generally do not do business with people they don't trust, because they can't. IMHO most usage of blockchains will happen in new markets doing new things that people would've considered foolhardy before, because its central value proposition enabling transactions that would've been considered foolhardy before.