Honestly speaking, how much real potential does blockchain have?

Honestly speaking, how much real potential does blockchain have?

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Just another buzzword.

It's a shared database. Which is perfect for niche applications, where you want to exchange data between multiple parties and be certain of the up time, the source and the integrity of the content. Especially if it's public data.

For example if you want to create a database to check if a car is insured. To check who owns a house. Be sure that someone gave permission to sell it. A bank could publish information that they are willing to stand in for certain financial risks. Or for financial transactions. And so on.

You only have to agree on the standards. After that you're done.

A solution looking for a problem.

There are plenty of problems it would solve.

It's just that nobody feels the need to change the status quo.

touch fluffy tail

An alternative solution to a solved problem. Happy now?

do it now

No, blockchains solve problems that previously had no solution.

Like what? Proving global warming is real by causing it?

Like the multiple examples listed.

With the way the left has been publicly coming out as pro-censorship lately? A lot.

is that scat

>With the way the left has been publicly coming out as pro-censorship lately? A lot.
Good job on turning this thread to shit

Distributed databases are a solved problem. We literally wouldn't have any big modern web based service if that were a problem.

Distributed Tamamo image sharing on the blockchain. Also me on the right.

Making it distributed is not the problem. Making it trustless is the problem. All current such system requires trust and thus they are in best case flawed and worst case completely useless, for any application where data integrity is critical.

Yet they still work, hmmmm.

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Yes, as said they work for applications where data integrity is not critical. But please try to point me towards a distributed system before blockchains where it IS critical, such as money.

Yeah, such a shame nobody thought of a way to use money online or at the regular shops but without having to carry cash with you. Maybe blockchain is the solution?

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You keep moving the goalpost and clearly don't understand what it is that makes blockchains useful. I'm still waiting on you showing me a distributed database with high data integrity before blockchains were a thing.

The very examples you mentioned have been around for decades and working just fine, you're the one saying they are flawed. So please elaborate why current systems aren't actually working, without buzzwords please.

No, they haven't. Like I've said before, all previous similar services required trust and were therefore in best case flawed and worst case completely useless, for any application where data integrity is critical. If you can't understand why that makes it unique and useful, then that's fine, it's not my job to teach you. Just don't use it if you don't want to. But don't spread lies that it doesn't solve any problems.

Again you're just saying they don't work without explaining why.
>required trust and were therefore in best case flawed
How exactly? What problems do you have with the current online payment systems for example?

The list of potential reasons why someone might not trust someone else is too long to write. Some of those reasons might seem irrational to you or me, some are definitely not, but honestly the specific reason is irrelevant. If someone wants to f.ex. send money to someone else without compromising trust, for whatever reason, they have a problem. That problem was impossible to solve before blockchains, but now it isn't. Simple as that.

But here are just some reason that I personally have experienced with centralized payment systems:
- They don't allow you to spend your money how you want. Some things I have been forced to use crypto for include online poker and drugs.
- They charge a lot of money, paypal f.ex takes a cut of about 7% when I use sell something, including currency exchange.
- They require me to give up my credit card info which can be misused or it can be hacked and the account drained
- They can choose to close or restrict my account at any time
- The value of fiat is on the peril of the government, if they do a bad job such as in Venezuela they could get worthless right quick.
- It is impossible to use such money services for AI or bots, as any money transmitter is required to have a legal person responsible for any money deposited with them.
- They require ID and other sensitive personal information which can be misused or hacked.