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That's not a technical problem, especially because every blockchain proposal for financial institutions is centralized. Until you hit competitive transaction th
by dsacco 9y ago
That's not a technical problem, especially because every blockchain proposal for financial institutions is centralized. Until you hit competitive transaction throughput on a blockchain while retaining its decentralized features, it doesn't really free you from being at the whims of other parties. There is no proof of work or proof of stake system that solves this yet.
- mrb 9y ago"That's not a technical problem" That's the point: it's a human problem. And by removing the human element, blockchains solve the problem. Note that I'm taking about decentralized blockchains (Bitcoin, Ethereum...), not the private centralized ones that are being proposed for financial institutions.