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by abhinavkulkarni
3446 days ago
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You know, some of your points are valid. But as another reply to this post stated, there are uses of blockchains outside mainstream industries. In fact, lets talk about faxes. We still have these relics of the past generation in our offices. Why? Because it acts as a mechanism to collect and store timestamp events. Blockchain precisely does that. How about a blockchain implementation that solves this problem? |
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I have seen zero actually feasible use cases for blockchain outside cryptocurrencies, and those only have a use case for illicit transactions.
The usual proposal I see put forward for non-cryptocurrency blockchains is a general coordinated database of everything in an industry, so all players can see what's happening.
The problem here is having common data standards at all, which is not a problem that storing it in a blockchain will solve.
The first barrier to common data standards is business models built on obscurantism; the second is that nobody wants to make the body setting the standard into the natural monopoly it will become, which is not a problem that a blockchain will solve.
The solution is for a player to come up with an open royalty-free data standard so naturally compelling that everyone adopts it, and eventually your regulator says "you know what, use this one."
This does not involve a blockchain.