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>In other words, you never need the blockchain, unless you can't use the power of the law to enforce your contracts. Every. Single. Other. supposed use-case of
by billmalarky 9y ago
>In other words, you never need the blockchain, unless you can't use the power of the law to enforce your contracts. Every. Single. Other. supposed use-case of the blockchain could be done by using a regular database and real-world contracts. Yes, even money (cf PayPal, Western Union, etc...).
Sure you don't "need" the blockchain to accomplish legacy X (LX), but what if blockchain X (BX) is 90% cheaper than LX (anything that avoids going to court will lead to massive cost savings)? A lot of the "known" use cases for blockchain tech involve squeezing out inefficiencies from the status quo. As with any new technology there could be additional applications unknown at this time unlocked as well.