3 ms·
The Bitcoin blockchain can be used for proof of ownership, proof of existence, proof of integrity, etc. It can be used as a decentralized trusted time stamping
by laichzeit0 9y ago
The Bitcoin blockchain can be used for proof of ownership, proof of existence, proof of integrity, etc. It can be used as a decentralized trusted time stamping authority [1]. Try this out for a real implementation: https://proofofexistence.com https://proofofexistence.com
It could be used by digital forensics to timestamp digital evidence and prove that it was not "tampered with" during the analysis phase.
The Bitcoin blockchain can be used for many things other than a "currency".
[1] http://arxiv.org/pdf/1502.04015v1 http://arxiv.org/pdf/1502.04015v1
- vec 9y agoThe blockchain is a towering achievement in theoretical computer science, but that wasn't the question. What is bitcoin, the currency, actually useful for?
- tardo99 9y agoAre those even problems in modern society? Setting aside conspiracy theories and outlier cases like the OJ Simpson trial, do people really fight (with meaningful evidence) over chains of ownership for things like assets and pieces of evidence? To expand on this, a simple cryptographic hash stored in a safe can be used to do something like proving a digital item hasn't been tampered with. The blockchain seems to me to only solve for the problem where the "system" is so corrupt that you can't trust anyone. I just don't think the "system" is that corrupt. So, I doubt blockchain has any real-world merit. Time will tell.