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Public writable block chains seem to be a dead end due to the cost of 'proof of x' in any Sibyl safe way. Private blockchains, such as for cross company accoun

Public writable block chains seem to be a dead end due to the cost of 'proof of x' in any Sibyl safe way. Private blockchains, such as for cross company account clearances, complex asset exchanges (planes, land) may help dislodge the rent seeking lawyers. They can be publically readable also which could be useful, e.g. For querying a land registry.

deleted 5y ago
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nlitened 5y ago
By the way, as far as I understand, git is an example of a private blockchain.
- funklute 5y ago
  How so? With git, you have to manually resolve merge conflicts. With blockchain, the general point is to use PoW (or something equivalent) to automatically do a vote on which is the correct version. Isn't that also the case in a private blockchain?
  - deleted 5y ago
    [deleted]
  - nlitened 5y ago
    I think git has: 1. A chain of blocks referencing its parents by hash, thus verifying their validity and immutability 2. A rules for consensus on choosing what blocks can be appended (both technically and organizationally through each company’s PR review process) That makes git a blockchain.
    - funklute 5y ago
      Good point, had not thought of it in this way before!
YPPH 5y ago
>Private blockchains, such as for cross company account clearances, complex asset exchanges (planes, land) may help dislodge the rent seeking lawyers. I've heard this one before and I am little hesitant about it. I imagine if you want to sell planes or land, you may want the seller to make certain assurances. So a lot of what M&A lawyers do, I understand, is work out what assurances need to be obtained and how to best enforce them in the contract. How does a private blockchain ensure enforcement of such a term? Seems like a human arbitrator may always be needed (judge or arbitrator), and an intermediary to give effect to any decision. So what advantage is there to gain from blockchain as opposed to other financial platforms?
jacknews 5y ago
Currency exchange settlement/escrow is a possible use-case for a private chain, currently handled by a specialized bank.
CJefferson 5y ago
Under land ownership, a lawyer might decide someone else owned land for the past 2 years, and history must be re-written. Also, that patch must be applied regardless of what the current land-owner wants. At this point, it feels like you just have a git repository with a single controller. That's probably useful, but feels a long way from a blockchain.

deleted 5y ago

[deleted]

nlitened 5y ago

By the way, as far as I understand, git is an example of a private blockchain.

funklute 5y ago
How so? With git, you have to manually resolve merge conflicts. With blockchain, the general point is to use PoW (or something equivalent) to automatically do a vote on which is the correct version. Isn't that also the case in a private blockchain?
- deleted 5y ago
  [deleted]
- nlitened 5y ago
  I think git has: 1. A chain of blocks referencing its parents by hash, thus verifying their validity and immutability 2. A rules for consensus on choosing what blocks can be appended (both technically and organizationally through each company’s PR review process) That makes git a blockchain.
  - funklute 5y ago
    Good point, had not thought of it in this way before!

YPPH 5y ago

>Private blockchains, such as for cross company account clearances, complex asset exchanges (planes, land) may help dislodge the rent seeking lawyers. I've heard this one before and I am little hesitant about it. I imagine if you want to sell planes or land, you may want the seller to make certain assurances. So a lot of what M&A lawyers do, I understand, is work out what assurances need to be obtained and how to best enforce them in the contract. How does a private blockchain ensure enforcement of such a term? Seems like a human arbitrator may always be needed (judge or arbitrator), and an intermediary to give effect to any decision. So what advantage is there to gain from blockchain as opposed to other financial platforms?

jacknews 5y ago

Currency exchange settlement/escrow is a possible use-case for a private chain, currently handled by a specialized bank.

CJefferson 5y ago

Under land ownership, a lawyer might decide someone else owned land for the past 2 years, and history must be re-written. Also, that patch must be applied regardless of what the current land-owner wants. At this point, it feels like you just have a git repository with a single controller. That's probably useful, but feels a long way from a blockchain.