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I don't disagree with you. My point is that blockchains can reduce the cost and complexity of enforcing property rights and adjudicating contractual disputes t
by legutierr 4y ago
I don't disagree with you. My point is that blockchains can reduce the cost and complexity of enforcing property rights and adjudicating contractual disputes to a meaningful extent such that many of the institutional deficiencies that exist in the developing world in this regard can be overcome.
You couldn't realize such a reform, however, without buy-in from the government itself.
- dmitriid 4y ago> can reduce the cost and complexity of enforcing property rights and adjudicating contractual disputes to a meaningful extent No, they can't. A blockchain is, at best, a database. A database cannot do anything.
- legutierr 4y agoSo you would assert that the use of centralized relational databases would would not reduce the cost and complexity of enforcing property rights, in comparison to the use of paper records? A database cannot do anything?
- dmitriid 4y ago> So you would assert that the use of centralized relational databases would would not reduce the cost and complexity of enforcing property rights, in comparison to the use of paper records? 1. No, I wouldn't assert that 2. It depends entirely on implementation (there are numerous examples around the world where transferring paper records to digital records mad a lot of things less efficient due to bad implementations) 3. You have to show that blockchain as a store of record is significantly better than a traditional relational database (given e.g. https://news.ycombinator.com/item?id=33691566 https://news.ycombinator.com/item?id=33691566 and other like https://news.ycombinator.com/item?id=33688603 https://news.ycombinator.com/item?id=33688603 and other issues that you dismiss or ignore)