|
|
|
|
|
|
by acjohnson55
3154 days ago
|
|
|
> But it's not the bitcoin blockchain, per se, that's particularly interesting. For example, the trustless piece is largely a pointless waste in the problem I outlined above. We know all the participants and can safely move keys etc around. In the same vein, proof of work is unnecessary, we can identify block creators and easily use external remedies if they play silly buggers (no-one is suggesting we get rid of all our lawyers). Yep, you could basically accomplish the same thing with Git and some rules for how to model a ledger and consensus. In that sense, there's nothing particularly new about the concept of an immutable distributed history. Now there's simply an implementation that cuts the banks out of the loop and lights a fire under them to offer better service. |
|
|
Not entirely sure that "Git and a bit" is likely to be sufficient but, yes, there are some intersections. The idea isn't new at all.
The belief that practical solutions for a common ledger that meet strict privacy and confidentiality requirements is relatively new.
> Now there's simply an implementation that cuts the banks out of the loop
Not sure what you mean here. If you're talking about Bitcoin as a product then I don't think the banks are that concerned. It's starting to be interesting as an extra option for portfolio diversification but that's about it. If anything, the well publicised schoolboy errors have been net positive for the banks.
As I said, where it has generated most interest as a technology is in inter-bank. There are 3rd parties appearing in this space but that's been encouraged (and often funded) by the banks. It's a space with a lots of cost and operational risk but very little actual value.