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by skMed
3240 days ago
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In theory, this benefits complex business processes running across corporations/agencies/gov/etc. requiring a distributed ledger. For example, mineral mining/procurement/certification/etc is a complicated lifecycle across many actors. I can't remember which podcast I heard it on, but the suggestion was anywhere there was a "clearing house" in use by multiple corporations for a particular process, there was an opportunity for blockchain/smart contract use. In practice, I have yet to see anything concrete, but I haven't exactly been looking hard. |
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"In theory yes, in practice no" - sums up every explanation I've seen of whether blockchain technology could be applied to a particular problem. I still haven't seen a "killer app" that's not better suited to a traditional database.
Bitcoin became useful because it's an unregulated currency that has enough acceptance to be liquid and enough anonymity to be used for clandestine purposes. As soon as you try to use blockchain tech for "traditional" transactions you end up eating the computational cost of a distributed ledger for no apparent benefit.