Re:The Case Against Crypto
by usrbinbash on Tuesday December 07, 2021 @10:10AM
(#29473241)
>a currency where taxes are already built into the transfer system
My income tax is automatically deducted from my paycheck, transfer taxes and VAT are automatically taken care of.
> With block chain you don't need permission to access the database
If we are talking about databases now instead of distributed ledgers (aka. cryptocurrencies), then yes I need a permission, because if I store business relevant data somewhere, I need a mechanism to ensure that only authorized parties can access it. This is doable in blockchain-based databases of course but it's much easier in a classic RDBMS or document-store (noSQL) system.
Again, these are solved problems, and "blockchain" provides no benefit over existing solutions, but impacts usability, efficiency, scalabitily and speed.
My income tax is automatically deducted from my paycheck, transfer taxes and VAT are automatically taken care of.
> With block chain you don't need permission to access the database
If we are talking about databases now instead of distributed ledgers (aka. cryptocurrencies), then yes I need a permission, because if I store business relevant data somewhere, I need a mechanism to ensure that only authorized parties can access it. This is doable in blockchain-based databases of course but it's much easier in a classic RDBMS or document-store (noSQL) system.
Again, these are solved problems, and "blockchain" provides no benefit over existing solutions, but impacts usability, efficiency, scalabitily and speed.