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The problem with Dole was that there was not one single central ledger of stock transactions that was being kept updated in real time. Would blockchain have so
by snowwrestler 8y ago
The problem with Dole was that there was not one single central ledger of stock transactions that was being kept updated in real time.
Would blockchain have solved that? It's centralized in that there is one ledger. But natively resolving and publishing transactions at high speed is not a feature of blockchains yet. A centrally managed ledger without distributed calculations would be way faster.
Also worth noting that Dole was a weird enough case to be news-worthy, and that it was ultimately resolved. I think it takes more than a few edge cases to justify completely rebuilding the entire basis for a major part of the global financial ecosystem.
- will_brown 8y ago>A centrally managed ledger without distributed calculations would be way faster. Right which will never occur in the current system because each middleman needs to justify their place to keep their piece of the pie. Like I said it’s a system with tons of middlemen (who don’t add value) who could be ripped out and replaced with Blockchain. Dole was “ultimately resolved” only after complex class action litigation that costs millions of dollars and resulted in the party who took dole private having to pay an extra ~$2.50 x ~36.8M shares. It’s clear from any public company that goes private this is a serious issue...Dole is not an edge case.
- snowwrestler 8y agoIf we can imagine "ripping out" the middlemen and replacing them with blockchain, then we can also imagine ripping out the middlemen and replacing them with any other centralized ledger.
- will_brown 8y agoUmm...can we? If you rip out the existing middlemen where does the “centralized ledger” come from but another middle man.