[blowski]

Financial transparency and integrity is a wonderful goal. However, I am yet to understand why any kind of blockchain is necessary or sufficient, or even a good solution. If you want to cook the books you can do it with or without blockchain. Same if you want to be honest. Blockchain seems like a very complex and expensive way of persisting transactions in a database.

[coffeebeqn]

It’s just a fundamental naïveté about how the world works. If I’m dodging taxes or hiding profits then I’ll just enter false numbers on the blockchain. Now what good is the blockchain? Unless the whole world runs on the super inefficient blockchain system then there is always a potential for gigantic drift between the actual state of the world and the blockchain.