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new_account_5009 t1_iy5pcar wrote

Reply to comment by pixel_of_moral_decay in BlockFi (JC registered company) Bankrupt by driftingwood2018

>Blockchain is a legit technology.

I think you're giving the crypto people too much benefit of the doubt. All blockchain offers is a secure public append-only database. There are precisely zero use cases that aren't better handled with traditional database implementations.

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pixel_of_moral_decay t1_iy5vz6p wrote

There’s lots of applications, mainly that it’s auditable.

And “transaction” doesn’t have to be financial. That can be any interaction of people or systems. Even software licensing.

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Jahooodie t1_iy9c3m7 wrote

One case example I've heard of: Drug APIs or consumer goods input on chain of custody, so in dealing with opaque countries like China there is a publicly acknowledge dispersed ledger resistant to tampering.

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pixel_of_moral_decay t1_iy9zbmm wrote

Yup. There’s a ton of applications for what’s essentially a database with authentication and tamper evidence built in.

Investing in database records with funny names however isn’t one of them.

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