Re:“We already store data. In a database. It works well”
by Tomte on Tuesday February 11, 2020 @04:58AM
(#22297309)
No. "Multiple entities interact" may be a necessary condition for using a blockchain, but it's certainly far from a sufficient condition.
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Re:“We already store data. In a database. It works well”
by twrx3 on Tuesday February 11, 2020 @05:07AM
(#22297345)
Yes, only when they cannot trust each other.
Re:“We already store data. In a database. It works well”
by ghoshbishakh on Tuesday February 11, 2020 @05:05AM
(#22297341)
Agreed. The sufficient condition is you cannot blindly trust all those entities.
Re:“We already store data. In a database. It works well”
by Tomte on Tuesday February 11, 2020 @05:13AM
(#22297356)
That's still far from sufficient.
Existing businesses have coped with that for hundreds of years.
You can have joint-ventures, where all participants send emissaries to, you can negotiate rights to view the books or other ways to create transparency. You can have contracts, backed by a legal system and state courts.
You can do many things. Blockchains are only one of those possibilities.
Most important question when somebody tries to sell you a blockchain: "What's the traditional way to do it?"
Correct answer: "People usually do X, but our blockchain proposal has advantages Y and Z."
Incorrect answer: "Nobody has ever solved that problem before!"