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The "jobs" this technology replaces were computerized in the 1960s and 1970s. The application of the blockchain only speeds up settlement because there is a sin
by legolassexyman 9y ago
The "jobs" this technology replaces were computerized in the 1960s and 1970s. The application of the blockchain only speeds up settlement because there is a single ledger between multiple parties.
- subway 9y agoThe blockchain also ups the level of auditability.
- justonepost 9y agoYep! A big deal. You can see the lineage of transactions and actually always know who owns what. Be good for stocks too, which are a total and complete nightmare when it comes to who owns what.
- 52-6F-62 9y agoThis is one of the things that really interests me. It's a tool to boost honesty in traditionally exploitable aspects of business. Hell, with something like that the public might be able to viably reduce financial regulation -- or rather preventative procedural bureaucracy -- because of the ability to trace business transactional practices.
- atomical 9y agoYou could do exactly the same thing with a centralized ledger and it would be faster and cheaper. The point of a blockchain is security and irreversible transactions.
- tgjsrkghruksd 9y agoYet it is a giant leap backwards for security and irreversible transactions are a deal-breaking bug in the real world of finance. Mistakes and frauds have to be unwound. "Finders keepers losers weepers" is a playground rule.