[askmike]

Ah, well there is no system ever that will solve that problem. Blockchains are simply systems that allow for the (as much as possible) trustless formation of consensus. So as soon as you have fraudulence data entering your system you know exactly where it came from and also that everyone is relying on the same data. This removes the need for everyone to double check everything multiple times.

I am involved in commodity trade finance (the financing of supply chain) and the current process is basically a huge number of different companies all checking the same data (documents & contracts). The banks actually check these documents multiple times (4 eyes principle).

You can build an API around a mysql database that does the checking. But no company would trust your checking for compliance, legal and trust reasons. If you offer them a full node (piece of software that doesn't trust all data thrown at it) in a blockchain system that they can run on their own infra it's a different story.

[sanderjd]

> Ah, well there is no system ever that will solve that problem.

That was the parent commenter's point: the really hard problems are not ones that technology can solve.

Having said that, while I agree with that point, your extremely informed comments in this thread on the usefulness of a private blockchain for a real use case have been the best argument for the the technology that I've seen. It's an interesting space; I just wish I saw more of your kind of perspective instead of the constant hype and "crypto" speculation.