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Sure. Bitcoin in Venezuela is solving the problem of their existing currency imploding. Anything that performs a function inefficiently can be a problem waitin

Sure. Bitcoin in Venezuela is solving the problem of their existing currency imploding. Anything that performs a function inefficiently can be a problem waiting to be solved. What I’m asking for is a concrete example of a societal problem (something inefficient, costly, painful, or impossible) that blockchain addresses.

vntok 8y ago
Any industry or operations where intermediaries are needed becauses of a lack of trust between first parties can be desintermediated by a distributed trust network: - Art transactions: registry of origin and property transfers for any object (with authenticated certificate), currently done by lawyers & auction houses (costly, inefficient, painful, near-impossible in some cases) - International shipping: INCOTERMS, currently handled through various specialized intermediaries (costly, inefficient, painful) - Registry of operations over the life of a company (creation/address change/acquisitions/foreclosure), currently done by national commerce courts & accredited local newspapers (costly, inefficient, painful) - Wills: self-authentication of one's will preventing repudiation attempts by third parties, currently done by lawyers and witnesses (costly, inefficient, painful) - Escrow accounts for service providers (ex freelancers) through multisig wallets (inefficient)
- wernsey 8y ago
  Art transactions: Just the other day there was a long discussion on here about a guy who managed to convince a blockchain that he owned the Mona Lisa.
  - vntok 8y ago
    Interesting, do you have a link? To me blockchain in Art is less useful as a way to prove some ex-nihilo ownership than as an unalterable chain of ownership transfers. Of course that works as long as noone gets their hands on Musée du Louvre's private keys.
    - wernsey 8y ago
      Here's the HN thread: https://news.ycombinator.com/item?id=17292476 https://news.ycombinator.com/item?id=17292476

vntok 8y ago

Any industry or operations where intermediaries are needed becauses of a lack of trust between first parties can be desintermediated by a distributed trust network: - Art transactions: registry of origin and property transfers for any object (with authenticated certificate), currently done by lawyers & auction houses (costly, inefficient, painful, near-impossible in some cases) - International shipping: INCOTERMS, currently handled through various specialized intermediaries (costly, inefficient, painful) - Registry of operations over the life of a company (creation/address change/acquisitions/foreclosure), currently done by national commerce courts & accredited local newspapers (costly, inefficient, painful) - Wills: self-authentication of one's will preventing repudiation attempts by third parties, currently done by lawyers and witnesses (costly, inefficient, painful) - Escrow accounts for service providers (ex freelancers) through multisig wallets (inefficient)

wernsey 8y ago
Art transactions: Just the other day there was a long discussion on here about a guy who managed to convince a blockchain that he owned the Mona Lisa.
- vntok 8y ago
  Interesting, do you have a link? To me blockchain in Art is less useful as a way to prove some ex-nihilo ownership than as an unalterable chain of ownership transfers. Of course that works as long as noone gets their hands on Musée du Louvre's private keys.
  - wernsey 8y ago
    Here's the HN thread: https://news.ycombinator.com/item?id=17292476 https://news.ycombinator.com/item?id=17292476