4 ms·

My question was "what does blockchain bring to the table compared to a regular database?". How does using a blockchain/cryptocurrency make it easier to sideste

by wz1000 7y ago

My question was "what does blockchain bring to the table compared to a regular database?". How does using a blockchain/cryptocurrency make it easier to sidestep regulations compared to a regular old database?

kolinko 7y ago
Sidestep regulations - if you build a system that doesn't allow you to do certain things (e.g. change balances at will), then the government cannot force you to do them. But again - it's not about regulations. It's about interoperability. Centralised money transfer stuff is not new (PayPal? Banks?), the problem with it was always integration with other systems. Also, if it's a centralised database, it's hard to build real startups on top of it. Look at what happened to startups building on top of Twitter APIs when Twitter decided to change them. If you build some parts on top of a public blockchain, it gives guarantees related to accessibility of those parts in the future.
A2017U1 7y ago
fair call, considering it's all permissioned, to pathetically argue the point I don't really care much for: I guess you could claim some sort of providence of money movements using a git like system but realistically I think it's likely the marketing department had far more to do with the decision than the engineering dept. You only have to look at wechat's dominance thoughout Asia to realise whatapp could get absolutely blown away by the all-in-one messenger/payment system if it took off in the West.
callmeal 7y ago
>My question was "what does blockchain bring to the table compared to a regular database?". You cannot compare blockchain with a regular database. A blockchain is more like an append-only store, or a WORM drive where each "file" or "record" is digitally authenticated and signed/hashed in a way to make undetectable modifications extremely difficult and/or expensive.
- dragonwriter 7y ago
  > You cannot compare blockchain with a regular database. Yes, you can. That it is different, and the resulting difference in utility, is the exact point of such a comparison.

by wz1000 7y ago

kolinko 7y ago

Sidestep regulations - if you build a system that doesn't allow you to do certain things (e.g. change balances at will), then the government cannot force you to do them. But again - it's not about regulations. It's about interoperability. Centralised money transfer stuff is not new (PayPal? Banks?), the problem with it was always integration with other systems. Also, if it's a centralised database, it's hard to build real startups on top of it. Look at what happened to startups building on top of Twitter APIs when Twitter decided to change them. If you build some parts on top of a public blockchain, it gives guarantees related to accessibility of those parts in the future.

A2017U1 7y ago

fair call, considering it's all permissioned, to pathetically argue the point I don't really care much for: I guess you could claim some sort of providence of money movements using a git like system but realistically I think it's likely the marketing department had far more to do with the decision than the engineering dept. You only have to look at wechat's dominance thoughout Asia to realise whatapp could get absolutely blown away by the all-in-one messenger/payment system if it took off in the West.

callmeal 7y ago

>My question was "what does blockchain bring to the table compared to a regular database?". You cannot compare blockchain with a regular database. A blockchain is more like an append-only store, or a WORM drive where each "file" or "record" is digitally authenticated and signed/hashed in a way to make undetectable modifications extremely difficult and/or expensive.

dragonwriter 7y ago
> You cannot compare blockchain with a regular database. Yes, you can. That it is different, and the resulting difference in utility, is the exact point of such a comparison.