Re:Facebook Libra Is Architecturally Unsound
by __MatrixMan__ on Tuesday November 05, 2019 @12:08PM
(#21454299)
I expect the waste of Bitcoin will not carry forward into its successors. Nobody has yet proven that high value proof of stake currencies can scale, but I bet they will.
Also, what kind of consumer protections would you want to see in a currency? It seems to me that ensuring that you actually got what you paid for pretty much sums it up but I'm probably overlooking something.
Bitcoin is incredibly wasteful. If we're talking about digital transactions we already have credit cards and digital transfers. A block chain isn't required for those benefits.
Supply chain tracking is interesting but literally no one is talking about that. Its also an even harder problem. Its really not verifiable at all because you're now relying on data from outside the chain, ie how many widgets were created, whether the label on the real life widget is unique or forged, etc.