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But since it's working with legal liability there's no need for blockchain. That can be done through standard contracts and having companies certify that their
by SAI_Peregrinus 8y ago
But since it's working with legal liability there's no need for blockchain. That can be done through standard contracts and having companies certify that their items are authentic. You still need such a contract with a blockchain, all the blockchain adds is some complexity.
- dnautics 8y agoIt also adds latency.
- lmpostor 8y agoI mean the question is if the complexity is needless. Blockchain generally forces some level of standardization or there will be rejection, as well as being incredibly easy to audit. In a well functioning system, there is little benefit, but I would say that a blockchain based system elevates the floor of a functioning system due to its nature.
- njarboe 8y agoAs you stated, blockchains can be quite useful in a low trust environment. Thus currently most of its use cases are by criminals or transactions that can't be easily adjudicated, like international money transfers. I hope that the cryptocurrency craze is more just a standard get-rich-quick ponzi scheme in action than a sign that the West's hard won high trust culture is changing to a low trust one.