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Agreed. The sufficient condition is you cannot blindly trust all those entities.
by ghoshbishakh 7y ago
Agreed. The sufficient condition is you cannot blindly trust all those entities.
- Tomte 7y agoThat's still far from sufficient. Existing businesses have coped with that for hundreds of years. You can have joint-ventures, where all participants send emissaries to, you can negotiate rights to view the books or other ways to create transparency. You can have contracts, backed by a legal system and state courts. You can do many things. Blockchains are only one of those possibilities. Most important question when somebody tries to sell you a blockchain: "What's the traditional way to do it?" Correct answer: "People usually do X, but our blockchain proposal has advantages Y and Z." Incorrect answer: "Nobody has ever solved that problem before!"