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I guess you could set it up that way, but then you create the problem of competing authorities - it's the same problem that the internet has with DNS. At some
by smackeyacky 5y ago
I guess you could set it up that way, but then you create the problem of competing authorities - it's the same problem that the internet has with DNS. At some point, it has to have a single source of truth. The blockchain itself isn't enough when what is recorded on the blockchain is potentially not what the actors intended (or is what a criminal intended in a fraud scheme).
- programmarchy 5y agoCompeting authorities seem like a feature not a bug. It allows for experimentation and evolution of governance models. International law works this way and is what allows people to “vote with their feet”. There is no actual requirement for a single source of truth.
- smackeyacky 5y agoThat seems kind of different in a way, the different authorities cover different countries where laws are different. It almost seems like to make it work you would need...regulation.