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Because in some parts of the world banking is a historical pile of hacks on hacks on hacks held together with bailing wire and twine. Also banking is a hugely
by noir_lord 7y ago
Because in some parts of the world banking is a historical pile of hacks on hacks on hacks held together with bailing wire and twine.
Also banking is a hugely complex problem involving two of the hardest things to deal with, money and people.
It's particularly the case where you have a lot of small banks geographically spread out running a variety of legacy systems all of which talk to each other in weird and whacky ways.
I'm surprised kiting still works though.
- hsk823 7y agoLet's be honest. Many enterprises and business processes are hack upon hack all held together with duct tape and glue.
- nunja 7y agoIt would be amazing if someone could come with a useful technology that solves this particular set of problems. Something like a public distributed ledger where all transactions are validated by a majority of actors in a trustless system ... oh wait.
- xeromal 7y agoIf the world used that system, we'd run out of electricity
- pavel_lishin 7y agoGosh, if only that system didn't have its own huge set of drawbacks.
- opportune 7y agoYeah and we can secure it by requiring people to waste huge amounts of electricity to prove their stake in the system!
- spookthesunset 7y ago> wait I'll wait! 'Cause if it got even remotely adopted and mainstream, I'll be waiting... for years or decades.... before I can ever hope to make a single transaction. Yup. Nothing like Satoshi's Glorious Blockchain and its blazing fast 4 transaction per second reference implementation that is Bitcoin.