7 ms·

> I think web3/crypto will have mass adoption, but when it does, it will be much more boring and seamless with what we have today, with large companies managing

> I think web3/crypto will have mass adoption, but when it does, it will be much more boring and seamless with what we have today, with large companies managing blockchains and governments issuing their own coins. What point is there in the blockchain here? Why would a company or government need or want the indirection and overhead of blockchain/cryptocurrency instead of a normal database and traditional currency?

ithkuil 4y ago
There is also an interesting middle ground between a centralized database and a fully distributer blockchain: a transparency log. You can have a central authority operate on a ledger as they please, but provide verifiable proof that they are not rigging the books behind your back and rewriting history
- daveguy 4y ago
  This is an interesting concept. But I'm not sure why a company would want to do this if they didn't have to. Currently even publicly traded companies don't have to completely open their books to an auditor unless they get into trouble, right? Even then is it public? But for this to be a public benefit, wouldn't it have to be mandated? A government requirement to have a cryptographic chain of evidence for your books seems like the opposite of the crypto ethos.
  - dayvid 4y ago
    There’s been some interest for things such as banks balancing transactions with each other or shipping countries validating logs. JP Morgan already developed their own Eth based blockchain to my knowledge and the usecases will be there. You will probably never hear about them, though.
    - daveguy 4y ago
      Ah, that makes a lot of sense. Thank you.
- spiralx 4y ago
  Estonia's eRoad system includes a blockchain - predating Bitcoin by a year or so in fact - for recording any accesses and changes to official data with the goal of being able to detect breaches and/or corruption sooner. The country's own instance of the platform has about ten nodes IIRC, mostly operated by various government bodies but a few operated by other organisations - again IIRC including its main university and somewhere in Lithuania as well?

ithkuil 4y ago

There is also an interesting middle ground between a centralized database and a fully distributer blockchain: a transparency log. You can have a central authority operate on a ledger as they please, but provide verifiable proof that they are not rigging the books behind your back and rewriting history

daveguy 4y ago
This is an interesting concept. But I'm not sure why a company would want to do this if they didn't have to. Currently even publicly traded companies don't have to completely open their books to an auditor unless they get into trouble, right? Even then is it public? But for this to be a public benefit, wouldn't it have to be mandated? A government requirement to have a cryptographic chain of evidence for your books seems like the opposite of the crypto ethos.
- dayvid 4y ago
  There’s been some interest for things such as banks balancing transactions with each other or shipping countries validating logs. JP Morgan already developed their own Eth based blockchain to my knowledge and the usecases will be there. You will probably never hear about them, though.
  - daveguy 4y ago
    Ah, that makes a lot of sense. Thank you.
spiralx 4y ago
Estonia's eRoad system includes a blockchain - predating Bitcoin by a year or so in fact - for recording any accesses and changes to official data with the goal of being able to detect breaches and/or corruption sooner. The country's own instance of the platform has about ten nodes IIRC, mostly operated by various government bodies but a few operated by other organisations - again IIRC including its main university and somewhere in Lithuania as well?