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I agree with you but I want to point out that "a traceable and immutable book" is perfectly achievable without blockchain. Just have De Beers (or the authority
by simias 9y ago
I agree with you but I want to point out that "a traceable and immutable book" is perfectly achievable without blockchain. Just have De Beers (or the authority of your choice) publish their signed "immutable" ledger publicly at regular intervals. Anybody can mirror it (like the "nodes" of bitcoin mirror the blockchain). If the authority decides to cheat and rewrite history (for instance to change the origin of a diamond) any of the 3rd party mirrors can detect the conflict and blow the whistle.
- unboxed_type 9y agoInteresting point, thanks for sharing. But, anyway: What incentives do those mirroring nodes have to store regular data blobs and process requests from clients? Who will decide the privilege to be such a 'mirroring node'. The origin can run several such 'mirroring nodes' and rewrite history on all (some of) them: how would you know who is giving you the truth in case of conflicting information? I bet if you solve those questions, you will be simulating a blockchain system. Do you agree?