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I didn’t downvote you, but that’s a pretty extraordinary statement that could use some explanation. How do you see it being used such that it reaches that level
by ericd 7y ago
I didn’t downvote you, but that’s a pretty extraordinary statement that could use some explanation. How do you see it being used such that it reaches that level of ubiquity?
- Alex3917 7y agoAny time two or more different parties enter into any sort of business relationship, they need to spend tons of money on third-party service providers tracking who owns what. If DLT can reduce the cost of that by, say, 60 - 80% then that's a savings of several trillion dollars per year. If you read a book about the impact that double entry accounting had on the world then I think it's easier to imagine all the ways that triple entry accounting (DLT) will transform the economy.
- ericd 7y agoInteresting, thanks for explaining. Any recommendations for good books on the impact of double entry accounting?
- Alex3917 7y agoThere is a book called Double Entry. The first few chapters are worth reading to understand how it actually changed the world and created wealth. It gets kind of boring after that. I think understanding DLT as a 10x less labor-intensive version of double entry accounting is key to understanding its ability to enable new and qualitatively different types of business relationships.
- ericd 7y agoI'll check it out, thanks!