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There’s probably not a lot of interest for retail use for the reasons you state. Outside of wealth management that is more about the cryptocurrencies than the t
by lucozade 9y ago
There’s probably not a lot of interest for retail use for the reasons you state. Outside of wealth management that is more about the cryptocurrencies than the tech.
But there is still interest in peer to peer usage. When each bank keeps their own version(s) of the truth, the cost of reconciling, resolving disputes etc is huge.
The most interesting features, in this scenario, are the mutable->immutable and time ordering aspects. The literal blockchain, in other words. The consensus and transparency aspects aren’t particularly interesting though.
And the key (excuse the pun) to these useful aspects is the cryptography used in interesting ways. Blockchains didn’t invent any of this stuff but they did open people’s eyes to the possibilities.
- speedplane 9y ago> When each bank keeps their own version(s) of the truth, the cost of reconciling, resolving disputes etc is huge I'm not a banker, but I'm not sure I entirely believe this. There is undoubtedly a cost of reconciliation, but is it "huge"? Seems low on the totem poll.
- lucozade 9y ago10s of millions per year per bank. More for the really big banks. Thay have large totem poles. Edit. That’s not including the op risk of screwing up. That has costs too and can easily reach millions
- speedplane 9y agoA handful of millions for the largest banks, yet most crypto currency companies are valued far out of proportion of that.