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This is the fundamental point of blockchains. Operating without large, trusted (for the time being) third parties. Here's a specific example: Blockchain-power
by gomox 9y ago
This is the fundamental point of blockchains. Operating without large, trusted (for the time being) third parties.
Here's a specific example:
Blockchain-powered systems are an alternative to the censor-prone nature of the current networks (Internet, but also financial networks).
Governments and large corporations hold significant leverage over the omnipresent communication mechanisms that are available today. This wasn't an issue when the Internet was invented.
If a government disagrees with the existence of Wikileaks, Wikileaks can be excommunicated or financially strangled to death by applying pressure to third parties (banks or internet service providers) that allow it to function.
Blockchains and P2P networks provide an alternative to this.
- myaso 9y agoBlockchains solve one piece of a puzzle I can trust the transaction to go through but I can't trust the ecosystem that it operates in -- I'll leave the definition of trust purposely ambiguous. Despite all their flaws the systems already in place are designed with the ideal to prevent anti-social malfeasance. No sane business will adopt a blockchain for a problem that already can be solved using cheaper methods -- you don't need to embed certain controls in technology, you can simply catch stuff using manual human powered processes at a much lower cost which are much more flexible than a program. Cryptocurrencies make it easy to pay any address I know exists and they also let someone purchase illegal goods easily.
- gomox 9y agoI'm not sure I follow your point here. Are you adding to what I said or do you disagree in some way?
- myaso 9y agoBoth, and yes I quite disagree with you in some fundamental way. They have a specific niche while being severely over hyped.
- gomox 9y agoI agree that blockchains are overhyped. But I don't think the value of P2P uncensorable money can be overstated in this day and age.
- myaso 9y agoAgain I agree ... it is nice to know the option exists but the value of this option isn't static at every point in time or every context -- the mere existence of it creates a certain level of bullshit that needs to be put up with.
- deleted 9y ago[deleted]