Quote from: utdrmac on July 12, 2017, 01:29:32 PM

Quote from: BTCwoker on July 12, 2017, 12:01:51 PM

Accordingly, with the blockchain, we are able to store our data in digital form.

Explain this in more detail. Explain how, using the blockchain, I store the fact that I own a car, house, etc.
I want to sell you some concert tickets. Explain how the blockchain secures this transaction.

Majority of that user's statements are fluff that doesn't actually explain how the
system works. Most statements are obfuscating or are plainly saying nothing.

To answer since I assume BTCWoker will never actually answer your question directly,
it can not secure your transaction example. That is impossible and like saying "When I
exchange my car for concert tickets on Craigslist, how does Craigslist secure that?". The
answer is that it does not. A blockchain used for documents or property is not secure like
the Bitcoin network and any belief or assurity of security comes from guarantees of a third
party.

In the most simple terms, the only reasons why bitcoin tokens are secured through the
blockchain is because they are actually the same entity. For a blockchain to secure
documents or property in the same manner, that document or property needs to be
represented as a ledger correspondent that is not a monetized token. Since the answer
for a new ledger correspondent has not been envisioned or created yet, blockchains can
not be used for anything other than currencies (, in a novel purposeful manner).

Of course, you can use a "blockchain" for anything, but that doesn't mean it will work the
same way or with equal security as the Bitcoin blockchain. All improperly used blockchains
relies third party intervention. The blockchain was originally designed to circumvent this.

The "blockchain" only works because it is 1 part of a 3 part system. Without the other two
systems, the blockchain serves no higher purpose. The blockchain is more than a ledger.