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On a more serious note. Public ledger is better than a private database because it's public, open to inspection and verification by all. It's especially impor
by ww520 5y ago
On a more serious note. Public ledger is better than a private database because it's public, open to inspection and verification by all. It's especially important for government and court to open their records.
- SahAssar 5y agoA database can be public. Data in it can be signed. Keys for signing can be stored securely on hardware (for example many ID cards are smartcard capable, which would fit well for interacting with the legal/government systems). None of this is unique to a blockchain and has been around since way before blockchains.
- ww520 5y agoThe central database is not verified by everyone.
- SahAssar 5y agoThe central database would be verified by the same authority that would have access to modify it, as talked about above.
- Raidion 5y agoI think the whole point of it being central is that it's not verified by everyone. "Everyone" doesn't have the force of law without getting into politics, but that "central" body does. It doesn't make a difference if 51% of my neighbors think the house belongs to me, it matters who is going to get removed for trespassing. That's the problem people have with blockchain, it doesn't matter what the blockchain says, because the blockchain can't enforce anything. If the blockchain could mindlessly enforce anything, I would own your house if I stole the private key. If you need a 3rd party to be able to make a judgement call and unwind legal situations, then the power resides in them, making the blockchain just a database with extra steps. You can make a database open and "verifiable" by anyone (like property tax records) without a blockchain.