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There are scenarios where a multi-party ledger can be useful in business... Think about a logistics chain where everybody needs to know that a record wasn't mo
by janekm 4y ago
There are scenarios where a multi-party ledger can be useful in business...
Think about a logistics chain where everybody needs to know that a record wasn't modified in retrospect.
But then you only need a mini-blockchain along the lines of what IBM calls blockchain, you may have a few industry players and say a customs agency agree to sign the entries and then there will be no dispute about whether an entry was signed on a particular day. Energy cost of that is negligible. (and you don't need to put the actual transaction info into the ledger... just the signature is enough so everyone on the chain can confirm later that it wasn't modified).
All of this is also pretty ancient tech by now... IBM just basically jumped on the blockchain branding bandwagon I'd say...
- lbriner 4y agoYou could already do this without blockchain, the problem is adoption. If I create a leger that requires basic crypto-signing, I would need everyone to agree to use the system, perhaps try and make it the only system so there is an incentive to use it - and that is the difficult part. Have some blockchain doesn't solve the problem of how you try and get people to adopt it.
- TomSwirly 4y agoYou don't need even a "mini-blockchain" - you just need a boring old 1970s vintage Merkle Tree.
- majewsky 4y ago> Think about a logistics chain where everybody needs to know that a record wasn't modified in retrospect. Why not just have event payloads signed by a neutral fiduciary?
- littlecranky67 4y agoa very simple timestamp hashing service (such as defined in RFC3161) will do that job.