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I've read somewhere that banks use blockchain internally. I mean levels of trust can be different within a company. Maybe you don't want anybody to be able to m
by bobiny 5y ago
I've read somewhere that banks use blockchain internally. I mean levels of trust can be different within a company. Maybe you don't want anybody to be able to modify the ledger's history.
- morelisp 5y agoThe usual use case isn't intra-company controls but replacing the clearinghouse / inter-bank settlement layer. This still does seem like a potential actual use for a blockchain, but "we can replace ACH" gets you maybe a couple hundred million at most, and for a lot of work. Easier to just scam people.
- acqq 5y agoIf you were a bank or a set of banks and just "don't want anybody to be able to modify the ledger's history" and you know what you are doing, you actually don't want to use blockchain. Because blockchain doesn't mean "nobody can modify the the ledger's history". It means "for it we have to use "proof of work"". But the "proof of work" means "whoever has 51% of the computing power can take over all". Of course, blockchain promoters would tell you that "there will be something else, comes Really Soon (tm) which won't use "proof of work"." One can more efficiently use public key cryptography, hashing and signing without the blockchain for any other problem than "implementing bitcoin."