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A comment on Web3: A VC-funded gig economy of securities fraud. Parent comment

Re:Web3: A VC-funded gig economy of securities fraud by logifail on Wednesday April 13, 2022 @10:47AM (#31015294)
> I mean, you still can bring it to court, have the judge decide in your favor, but the chain is immutable and neither you or the court officials can do anything to revert that.

That's within a whisker of saying that the entire legal system is subservient to blockchain, and not the other way around.

If so it would appear to be the death-knell for all those use-cases for any official/governmental process to use blockchain... ?

[ Parent | on HN ]
Re:Web3: A VC-funded gig economy of securities fraud by throwaway82652 on Wednesday April 13, 2022 @11:17AM (#31015681)
There never was a chance for them to be used in an official/governmental process because they don't offer anything there. Those processes require a trusted authority to work correctly. Why would they bother "decentralizing" something like this to put it on a blockchain, entrusting it to some unknown third parties to run the network? There's no point to that at all.
[ Parent | on HN ]