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Accounting has already solved this problem. It’s based on double entries, separation of duties and audit. If there are still problems despite those controls, bl
by hluska 5y ago
Accounting has already solved this problem. It’s based on double entries, separation of duties and audit. If there are still problems despite those controls, blockchain won’t solve them - those are human problems.
- basch 5y agoA blockchain is triple entry accounting, which has advantages over double. http://www.warrenhenke.com/writing/essays/triple-entry-accounting http://www.warrenhenke.com/writing/essays/triple-entry-accou... https://iang.org/papers/triple_entry.html https://iang.org/papers/triple_entry.html I find it odd to say "thats a human problem" as if technical invention over centuries isnt specifically to abstract away human inefficiency. A group of somewhat trusting firms doesnt need crazy PoW/PoS. The idea of companies sharing a collaborative ledger when working together shouldnt be dismissed so flippantly. Everyone keeping their own (unreconciled automatically with each others) book may be the status quo, but it doesnt make it optimal.