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I think that's a poor example for the following reasons; * if it's a one off payment to all recipients, why not just send it manually? * what happens when you
by clappski 9y ago
I think that's a poor example for the following reasons;
* if it's a one off payment to all recipients, why not just send it manually?
* what happens when you need to add or remove recipients? Compared to just phoning up the bank to amend a standing order.
* what happens if you accidentally pay someone the wrong amount?
* what happens if you lose your wallet and you can't continue paying?
I would rather have a bank handle all of the edge cases and provide the consumer protections I want out of a payments/account system than some random script that I (or someone I have to pay) has to maintain that could be responsible for vast amounts of funds.
- vasilipupkin 9y agoSure, you can use the bank. Internally, the bank could do this on the chain though and give you all those protections, so you don't even need to do know the details
- clappski 9y agoBut why would the bank use the chain, the financial web of trust is already there and doesn't need to use a chain to facilitate internal or external transfers of monies. It would be a huge time sink with no real benefit to the consumer or the shareholders.
- vasilipupkin 9y agoAnd yet banks are experimenting with blockchains, no?
- lambdadmitry 9y agoThey do, it's just that the way they do that has nothing to do with ETH or BTC http://www.r3cev.com/blog/2016/4/4/introducing-r3-corda-a-distributed-ledger-designed-for-financial-services http://www.r3cev.com/blog/2016/4/4/introducing-r3-corda-a-di...