4 ms·
> The public database must be writable (only) by the corrupt authorities. What exactly does a blockchain do to make the authorities non-corrupt here? Wrong. In
by dozzie 9y ago
> The public database must be writable (only) by the corrupt authorities. What exactly does a blockchain do to make the authorities non-corrupt here?
Wrong. In selling land to somebody else, authorities -- corrupt or not -- have
nothing to say. The only thing authorities are needed for is to put an
official stamp on the sale document.
This official stamp is generally a good thing; land is too valuable, so such
transactions need some friction, like public notary's involvement, so one
cannot sell a property by merely clicking "accept" under EULA. Corrupt
authorities, as I understand, can delay the process of stamping the sale for
indefinite time, so what blockchain is supposed to do here is to do away with
authorities altogether.