Quote from: mocacinno on May 29, 2018, 07:01:21 AM

Quote from: fiulpro on May 29, 2018, 06:51:58 AM

The idea behind cryptography and block chain is essentially similar , also banks since the beginning are using cryptographic techniques to secure the server try googling banks and cryptography.

Also you know it has been proposed in 2017 that banks could save millions if they start using blockchain , since cryptography is already in use this idea is more or so acceptable.

Blockchain is based on public key cryptography thus it's a part of it , well I would say more advanced for obvious reasons.

The internet banking was since the starting based on cryptography 😐 try finding a little about it.

i'm not saying (and have never said) that banks are not using cryptography... They'd have to be stupid not to... I'm saying that banks are centralised institutions that rely on centralised relational databases. Blockchain technology is the opposite: it's not centralised, it's immutable, it's open. A bank can delete all your records with a single query, they own the data, they're in complete controll... This is completely different with crypto currency: nobody owns the data, it's a decentralised, trustless ledger whose records can not be edited (unless a 51% attack were to happen, but still, after a couple confirmations, your transactions are safe).

What you're saying about banks; that they could save millions by using blockchain technology might be true, but to this date, i have not seen banks in my country that publicly admit they're using blockchain technology in a production environment... So while it's true they could benefit from the technology, i wouldn't say that most banks are already using this technology...

I don't want to start a discussion about wether or not blockchain technology is more advanced than cryptography... I'm just saying that blockchain technology is using cryptographic techniques. This does not make blockchain technology a more advanced form of cryptography... The reason i don't want to start this discussion is that it's a discussion about semantics, and i don't find such discussions interesting Wink

😓 Neither do I
I just wanted to say that
Banks are based on cryptography and if people can trust them then the Bitcoins ( who are also based on cryptography ) can be trusted too.