Re:Blockchain Is Dangerous Nonsense
by mattwilsonn888 on Thursday April 28, 2022 @06:43AM
(#31190946)
That's not true. A bank does not allow universal and unquestioning withdrawal nor does it truly require user consent to complete transactions. Clever cryptography makes it possible to do both building on top of Bitcoin or whatever ledger has the desired security and feature set.
[ Parent
| on HN ]
>That's not true. A bank does not allow universal and unquestioning withdrawal
Neither the "full blockchain solution" would, once the fraud protection and other safety checks are added.
Which is the point I've made.
You can't simultaneously claim the benefits of blockchain being without protection, and respond to the criticism about the dangers with "it's just a toolkit, you can add protection in layers above". Or you can, but you're claiming the pros on both sides of a XOR feature set.