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Distributed non-repudiation; useful for inter-org or inter-political timestamping/handshaking and maybe even intention/confirmation registration. In can do som
by oneplane 6y ago
Distributed non-repudiation; useful for inter-org or inter-political timestamping/handshaking and maybe even intention/confirmation registration.
In can do some of the things you'd use a notary for.
- lucb1e 6y agoSo in a word, timestamping right? Because if you want to have non-renegable contracts then any digital signature will do, and you can sign a commonly agreed timestamp into it like "I will provide service X as of 2020-10-24T21:57:14+0200 <insert signature>". The only thing you can't prove is when it really was signed, sent, published, that sort of thing, and for that a timestamping service can be used (which other comments already mentioned).
- goatinaboat 6y agoIn can do some of the things you'd use a notary for. Or, just use an entirely conventional database, operated by the notary.
- freeone3000 6y agoFinding a notary trusted by all parties may prove an issue, especially in international contexts. A blockchain may be cheaper.
- goatinaboat 6y agoTrue, but it depends on the lifetime of the contract. A century-old family-run law firm in Liechtenstein has much less risk associated with it than any technical solution. TCO rather than upfront cost, in other words.
- FridgeSeal 6y agoWe’ve operated and trust escrow’s right? Isn’t it more of a business opportunity for a tech-savvy escrow firm instead of a blockchain specific problem?
- oneplane 6y agoThat doesn't solve the distribution problem; if you can use centralised trust you'd of course have no need to distribution, but then this isn't the solution to use.