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Blockchain Is Not Going to Change the World

• anotheryou 10y ago
  "Blockchain is a stripped-down payments system" no, it's more and can be used besides payments. And nobody believes it does solve the trust issues about actual exchange for goods or service. Biggest thing I see (but I'm not too literate on bitcoin): once it works right it can't be stopped or taxed and still fly across the world through the internet. The blockchain is really interesting in itself, but I know little about what is possible with it. One example I love though is the "proof of prior existence". You can weave a hash in to the blockchain and than have proof you already possessed the hashed information at that time.
• rstuart4133 10y ago
  > Anyone who has worked on payment systems – as I have – knows that a payment system consists of two essential components: a ledger, and a means of sending and receiving messages. She missed the most important this a payments thing depends on: you trust the person to pay you. Without that you have nothing. The blockchain is about staking your reputation on previous work done. It's a way of saving and transferring trust. We can and have automate ledgers and sending and receiving messages. Automating the transfer of trust: this is new. But that's difficult to recognise if you don't realise trust is involved.