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The purpose of using a blockchain scheme to issue a centralized liability is probably to increase trust in the system due to the public verifiability of issuanc
by mbrock 7y ago
The purpose of using a blockchain scheme to issue a centralized liability is probably to increase trust in the system due to the public verifiability of issuance and transfers.
- wz1000 7y agoSeems to me that "trust" is the last thing the average joe would associate cryptocurrency with. A database with a public audit trail might be a better idea if you want that, but that certainly doesn't sound as trendy and exciting as "blockchain".
- mbrock 7y agoIndeed, the blockchain concept is more exciting and understandable for a lot of people, so in that sense branding their consortium-controlled cryptographically verifiable ledger as a blockchain seems like a good PR decision.