News for hackers. Stuff that matters.
Re:Nobody has found a use case for blockchain by AlleghenyCrypto on Tuesday June 15, 2021 @04:30PM (#27521095)
I've just started digging into the space, so maybe my question is way off base. I'm hoping someone will at least give me some insight though. Would it be possible to source the same level of credit data in a decentralized manner and use (e.g. send a loan to collections) all in a decentralized manner? If so, what is legitimately preventing the migration of all functions of a modern bank to a decentralized model?
Re:Nobody has found a use case for blockchain by clintonb on Tuesday June 15, 2021 @09:23PM (#27523847)
There is no benefit to doing this. Credit scores/checks only work by centralizing loan data with various credit bureaus. Whether that data is in a database or on a block chain doesn’t matter.