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Medium and large organizations should just run their own services that parse the blockchain and turn the data embedded in to Bitcoin transactions in to the stat

Medium and large organizations should just run their own services that parse the blockchain and turn the data embedded in to Bitcoin transactions in to the state of names and owners. This service would read from the public network and but could itself be only accessible on the corporate network/VPN. This applies to all sorts of Bitcoin metadata protocols beyond just Blockshain ID, such as Open Assets, Blockcast, and Open Publish. All of these systems use the public key infrastructure of native Bitcoin wallets for identification and authorization so it's in the ballpark of SSH, a proven approach in corporate settings.

ludbb 11y ago
There's a big gap in parsing the bitcoin blockchain vs parsing a local database. The blockchain is a public ledger so any (encrypted or not) information you store there can be retrieved by anyone. Downloading it is very slow, and parsing it in a reliable way, i.e. using bitcoind's rpc, is even slower. So you'll want to build an index from it, which you'll happen to store in a local database. So after all that you end up with a local database and public information that anyone can access. How is that useful for this purpose?