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by ptx 1609 days ago
Making all their real-time sales data public, and thus available to their competitors, doesn't seem like something most companies would want.

If the blockchain does enable this, wouldn't that just lead either to 1) companies not adopting blockchain, or 2) some solution for hiding the data and defeating third-party analytics?

1 comments

Possible, however having this data available makes accounting, and taxation trivial. Money laundering, fraud, theft, and other illegal activities also become extremely difficult to hide.

Which is to say that investors, governments, financial institutions, and small businesses unable to afford external auditing and accounting probably want this capability more than individuals. I'd argue that our current lack of financial transparency may be more of an artifact of banking technology limitations rather than an intrinsically desirable property.