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by philsquared_
779 days ago
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You wouldnt store any data at all on the blockchain. You would force every payment the goverment makes to go through a blockchain. Likely a centrally controlled one which would invoke no fees. On the other end the payment is cashed out for usd. Whether it's a good idea or not who knows but your comment misrepresents the concept. |
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> your comment misrepresents the concept
Why do you believe this particular politician has a sufficiently firm policy that it is even capable of being mis-represented? [0]
Is there something from his campaign which clearly lays out what he means by that slogan?
> Likely a centrally controlled [blockchain]
Pet peeve: That's not a thing unless we time-travel back to the 1990s when people meant something very different with the word "blockchain." It's a contradiction in terms, along with "private blockchain".
Those paradoxical euphemisms tend show up when people--for reasons of ideology or startup investor money--don't want to admit that the B-word is not actually good for their use case, and they're trying to avoid admitting that they're just doing a classic distributed database instead of the Sexy Thing.
The core feature that sets a modern blockchain apart is unrestricted membership where anybody can spin up any number of nodes/identities to participate. The challenges stemming from that are what cause a whole cascade of compensating algorithms and game-theory incentives, such as using wasted CPU cycles to curb influence.
If you don't have that requirement, everything becomes orders of magnitude faster and cheaper and simpler.
> You would force every payment the goverment makes to go through a blockchain.
Leaving intragovernmental transfers aside, hat also means you would force every private entity that sends or accepts government money to be a counterparty in the same system.
So supposing your great-aunt can't figure out a cold wallet then she can't get any medicaid for food this month. Does that still sound practical and reasonable?
[0] https://en.wikipedia.org/wiki/Not_even_wrong