3 ms·
is there some widespread issue with trusting the ledgers of banks currently? I wasn't aware that this is a pressing issue, or really an issue at all. >You can
by jmcqk6 6y ago
is there some widespread issue with trusting the ledgers of banks currently? I wasn't aware that this is a pressing issue, or really an issue at all.
>You can trust that your balance in your account is what the blockchain says it is, and that nobody but someone in possession of those keys can use it.
And there are definite risks around that too.
This really feels like a solution in search of a problem to me.
- sneak 6y agoSome would think so. https://www.theguardian.com/media/2010/dec/04/paypal-shuts-down-wikileaks-account https://www.theguardian.com/media/2010/dec/04/paypal-shuts-d... There are also many restrictions on how, why, when, and where transfers from those accounts can be made. There is no trust in an institution required, because you know the blockchain will carry out your wishes regardless of any other factors.
- jmcqk6 6y ago>carry out your wishes regardless of any other factors. It will carry out your inputs regardless of other factors. That is a very important distinction, especially in this case.
- kerng 6y agoYes, some call this "Code is Law" - it is blind to race, social status or how much money you have.