Post
Topic
Board Bitcoin Discussion
Re: What's all this talk about copying the blockchain.info technology?
by
franky1
on 17/10/2015, 16:22:30 UTC
  I have seen a number of references in the .edit lately to big banks talking about how the blockchain represents a real innovation but how bitcoin itself is useless. This sounds to me like an attempt to adopt some of the advantages of bitcoin for the established banking system without giving up any of their centralized power. It seems silly to me because a large part of the appeal and value of bitcoin is its decentralized nature.

 So my question is is there anything to this talk of the blockchain being the real value of bitcoin, or is this just hogwash from the big banks? Or maybe someone can link to a thread where this is discussed in detail.

firstly.. your title
.info refers to a website.. not the actual blockchain technology, just a viewer.

secondly
bitcoin is decentralised, and people want to keep it that way. banks however want their own systems secure, they want to control the money creation and flow and as such they want to make their own altcoin to premine and then hand out as tokens of credit to those customers wanting their system.

to me the banks having their own altcoin is a good thing.. as although they can code their alt to premine 20 trillion coins, its alot better then just adding numbers to a database without question.(in the long run)
also by allowing banks to use blockchain technology means that blockchain technology cannot be outright banned.

and lastly. just because a bank has an altcoin, doesnt mean bitcoin loses any interest or value. after all banks already have sql databases of trillions of value and yet bitcoin still has success, so it doesnt matter what back-end a bank uses, from the customers point of view there is no noticeable difference so the perception remains choose:
centralised closed data ledger with selfish/uncontrolled money creation vs public decentralised data ledger with stable deflationary money creation.

in the end bitcoin will always have social, economical, ethical positives compared to any alt a bank would create