Re:Microsoft is shutting down its Azure Blockchain Service
by picardo on Thursday May 13, 2021 @09:14AM
(#27141691)
No, we don't. That's why it's slow and expensive to trade across borders, especially if the counterparties have never done business before. It's an arduous process of proving creditworthiness through letters of credit. You often see document fraud where someone can tamper with a letter of credit, which is hard to detect.
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Re:Microsoft is shutting down its Azure Blockchain Service
by SideburnsOfDoom on Thursday May 13, 2021 @10:12AM
(#27142288)
> That's why it's slow and expensive to trade across borders, ... document fraud
Would you say that blockchains make this faster, cheaper and less prone to fraud?
Re:Microsoft is shutting down its Azure Blockchain Service
by picardo on Thursday May 13, 2021 @12:29PM
(#27144089)
Sure. Here is a story from 4 years ago. [1] Barclays says blockchain cut this process from 10 days to 4 hours.
[1] https://www.reuters.com/article/us-banks-barclays-blockchain...
Re:Microsoft is shutting down its Azure Blockchain Service
by SideburnsOfDoom on Thursday May 13, 2021 @01:29PM
(#27144815)
I don't see a lot of news on that since 2016. Are they still using it?
Re:Microsoft is shutting down its Azure Blockchain Service
by bydlocoder on Thursday May 13, 2021 @11:59AM
(#27143631)
Well, I'd rather provide a letter than put all my transactions in public eye.
Re:Microsoft is shutting down its Azure Blockchain Service
by picardo on Thursday May 13, 2021 @12:24PM
(#27144000)
It's not in the public eye. The blockchain is only accessible to trusted parties, like banks and merchant representatives.
Re:Microsoft is shutting down its Azure Blockchain Service
by SideburnsOfDoom on Thursday May 13, 2021 @12:49PM
(#27144352)
Who manages access to the blockchain, and how do you trust them?