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by AgentME
3177 days ago
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Using Ethereum means that everyone can agree on the state of the system without needing to place trust in any central authorities. You don't have to trust whoever is running the service to not accidentally or maliciously change the data or force a change in the software. You don't have to worry about the service going down (business says they're pivoting / gets bought out) and arguments about multiple different members setting up new accounts at different services claiming theirs is the true one that everyone should use (putting that member effectively in charge). The Ethereum blockchain provides a durable recording of the organization state. I'm not familiar with Colony at all, but if the above are possible concerns -- that you need durable consensus between individuals without enshrining any of them as fully trusted -- and especially if you want to manage money/value too -- then using Ethereum is a good fit. I agree that blockchains seem to be a buzzword that are shoehorned more than necessary, but depending on Colony's goals then they may be the actual target market for Ethereum. |
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