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The use case I've read about is where bitcoin acts as a currency to avoid government/bank issues in some countries where the country's currency has wild inflati

The use case I've read about is where bitcoin acts as a currency to avoid government/bank issues in some countries where the country's currency has wild inflation and/or the government/bank is untrustworthy (freezes accounts, etc.) So crypto can be helpful for people to transfer money or keep it safe (relative to seized accounts or worthless currency) if they are leaving or seeking asylum elsewhere or similar scenarios. Most affluent people (globally speaking) have many other options (USD cash, venmo/apps, ACH, wire transfers, checks, etc.) to transfer money to others. I would like the financial elements of blockchain to be set aside and let those knowledgeable explore actual problem domains. A distributed, transparent database of entries might have some uses that can't be seen thru the fog of those that want to get rich. One problem set that seems like a good fit is for actual real estate title/deed information. Having to pay for a "title search" or "title insurance" is bonkers every time a real estate transaction occurs on the same piece of land.

landemva 4y ago
> Having to pay for a "title search" or "title insurance" is bonkers It is over-priced for the effort. This is a lender requirement, so if you pay cash or cattle there is no requirement to do this check.
acdha 4y ago
> One problem set that seems like a good fit is for actual real estate title/deed information. Having to pay for a "title search" or "title insurance" is bonkers every time a real estate transaction occurs on the same piece of land. This is a good example of why blockchains aren’t a solution for most problems. For real estate records, the only thing which matters is what the local government will enforce - digital signatures can be interesting but the anonymity/trustless stuff is an expensive distraction. One big factor here is that you can’t rely on access to keys: someone needs to be able to override records when not uncommon things happen such as an owner dying, a messy divorce, etc. For title insurance, what you’re paying for is, well, insurance, not a database query. The risk here is that the records don’t match reality - for example, surveying errors happen, a previous seller might not have had clear rights, etc.

landemva 4y ago

> Having to pay for a "title search" or "title insurance" is bonkers It is over-priced for the effort. This is a lender requirement, so if you pay cash or cattle there is no requirement to do this check.

acdha 4y ago

> One problem set that seems like a good fit is for actual real estate title/deed information. Having to pay for a "title search" or "title insurance" is bonkers every time a real estate transaction occurs on the same piece of land. This is a good example of why blockchains aren’t a solution for most problems. For real estate records, the only thing which matters is what the local government will enforce - digital signatures can be interesting but the anonymity/trustless stuff is an expensive distraction. One big factor here is that you can’t rely on access to keys: someone needs to be able to override records when not uncommon things happen such as an owner dying, a messy divorce, etc. For title insurance, what you’re paying for is, well, insurance, not a database query. The risk here is that the records don’t match reality - for example, surveying errors happen, a previous seller might not have had clear rights, etc.