Re:There aren't that many uses for blockchains
by atoav on Thursday August 11, 2022 @03:45AM
(#32422699)
I as a business would not want to work with people who do not trust me to fulfill my (e.g. contractual or financial) obligations.
If they have to trust me to pay them, do my job, fulfill my contract anyways, what value is there in some sort of digital system that technically decentralizes trust, but where the other side still has to trust me I did nothing malicious with it?
If anything all that the developments in cryptocurrencies show is that a technically trustworthy infrastructure can (and will) be used for nefarious means. That means even if you were to use such an infrastructure you'd still have some interface to the real world, where people cannot pay, not do their job, do their job in a way you did not agree, etc. So you still would have to protect your interest in the traditional way and you'd still have to trust the other side.
So using a blockchain is just like using a database and giving up a certain amount of control over it.
If they have to trust me to pay them, do my job, fulfill my contract anyways, what value is there in some sort of digital system that technically decentralizes trust, but where the other side still has to trust me I did nothing malicious with it?
If anything all that the developments in cryptocurrencies show is that a technically trustworthy infrastructure can (and will) be used for nefarious means. That means even if you were to use such an infrastructure you'd still have some interface to the real world, where people cannot pay, not do their job, do their job in a way you did not agree, etc. So you still would have to protect your interest in the traditional way and you'd still have to trust the other side.
So using a blockchain is just like using a database and giving up a certain amount of control over it.