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Okay, decentralized currency is one idea. This can be used to implement some money with a monetary policy that is transparent and modified through consensus: eg
by DSingularity 5y ago
Okay, decentralized currency is one idea. This can be used to implement some money with a monetary policy that is transparent and modified through consensus: eg bitcoin - deflationary via finite supply. Multi-party wallet is another. With this, cryptographic signatures from a majority of the owners is required to transfer currency/digital assets. Non-fungible tokens is another. This can be used to — as an example — publish land deeds and property deeds online and make them easily transferred as opposed to the current systems which are not fool-proof and are not as user friendly (look at selling a house and how expensive it is for no good reason). Or what about decentralized finance? A user can literally borrow money against Bitcoin without the need of an authority which can discriminate against him for no good reason. How nice is it that we can now operate such systems that are robust to censorship.
But you will just dismiss all these ideas. Same way people dismissed all the ideas people were imagining when the internet is young.
If you want to broaden your mind— just detach the idea of blockchain from the price of Bitcoin. Yes, it’s insane to the point of being obscene.
- mosdl 5y agoWhat stops the authority from blocking internet access they can't spy on..
- DSingularity 5y agoThat is a very different discussion altogether.
- mosdl 5y agoIts a major problem to all the hype around crypto - it relies on a centralized internet infrastructure.
- DSingularity 5y agoIf needed TOR is always available. Besides, internet may be vulnerable to ISP censorship for something like DNS but I would love to hear your approach for censoring something like the BTC network.
- mosdl 5y agoDPI can detect TOR for example. In the end your are still running on a centrally run network.