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I think that blockchains can provide more trust than the current system because the ledger is publicly visible. The societal system still kicks in to remediate
by dkonofalski 8y ago
I think that blockchains can provide more trust than the current system because the ledger is publicly visible. The societal system still kicks in to remediate the effects of a mistake but the blockchain is an additional tool used to provide the evidence and support for such a reversal. For me, personally, I think the best solution is a form of blockchain run by a state/federal agency. You're putting trust in an institution, yes, but the underlying technology helps support that trust.
- verdverm 8y agoI don't really want all of my personal actions on a publicly visible system. Consider Facebook's internal data or the Chinese Social Credit system available to the public. I do like the idea of an internet where every action is traceable to a human, via public keys or sovereign identity. How you'd retain and verify is an unknown for me.