Re:The Internet Might Kill Us All
by webXL on Wednesday June 22, 2011 @12:27PM
(#2683840)
All of it gone. Forever. Boy, he sure does like that phrase!
You're right. These attacks can only be destructive if there are relatively few points of failure. I think our financial institutions can learn a lot from distributed systems like Bitcoin. I don't have a clue how it would work, but I can envision a distributed bank opening up one day, where all transactions and balances were distributed so that it would be impossible to destroy all that data, or any of it with enough redundancy.
You're right. These attacks can only be destructive if there are relatively few points of failure. I think our financial institutions can learn a lot from distributed systems like Bitcoin. I don't have a clue how it would work, but I can envision a distributed bank opening up one day, where all transactions and balances were distributed so that it would be impossible to destroy all that data, or any of it with enough redundancy.