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I have no particular love of legacy systems (whether they be banks, imperialism, or Electoral Colleges), but what about your comment is plausible given the wide
by xpe 4y ago
I have no particular love of legacy systems (whether they be banks, imperialism, or Electoral Colleges), but what about your comment is plausible given the widespread recognition that blockchain technologies have been oversold, leading to widespread fraud and failure?
Maybe I’m missing something, but the above comment reminds me of the blockchain naïveté of 10 years ago. I don’t mean to be dismissive; I’m suspending disbelief long enough to ask what you mean in detail.
- cubefox 4y agoThis is possible, and I don't have any deeper knowledge of cryptocurrencies / Blockchain. But payment systems don't seem to have a necessary connection to speculation and the high volatility which comes with holding a cryptocurrency. Maybe I overestimate the amount of problems those payment systems can solve.
- Karrot_Kream 4y agoThere are permissioned "blockchains" which are just private ledgers, that banks could use with permission from the US gov't. These can be anything from a centrally run DB with ACLs or something like Hyperledger with permissioned P2P access. Whether you call it a blockchain or a DB with ACLs is immaterial; it's still much cheaper, faster, and pleasant to use this system over the current system of complex intermediaries in the US. Europe seems to have solved this problem with SWIFT.