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The banks aren't using trustless consensus. They're using a third-party "uniqueness service" to prevent fraud.
by gbarc888 10y ago
The banks aren't using trustless consensus. They're using a third-party "uniqueness service" to prevent fraud.
- mtkd 10y agoI doubt this message will propagate further than technical forums - you're just going to have suck up the homogenization, pasteurization, retail branding and consumer promotion of a once great technology
- lhl 10y agoInteresting, my original understanding was that they were using the blockchain for uniqueness for Corda, but it looks like it's optional: https://r3cev.com/blog/2016/4/4/introducing-r3-corda-a-distributed-ledger-designed-for-financial-services https://r3cev.com/blog/2016/4/4/introducing-r3-corda-a-distr... This somewhat makes sense since one of Corda's departures is that consensus and validation are limited in scope to the participants.