Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Now here's a guy really pissed at bitcoin/blockchain...
by
Upgrade00
on 17/10/2018, 05:17:43 UTC
⭐ Merited by dbshck (2)
This whole rant, is a prime example of using a fair bit of fact to give credence to a whole lot of crap.


As for blockchain itself, there is no institution under the sun – bank, corporation, non-governmental organisation or government agency – that would put its balance sheet or register of transactions, trades and interactions with clients and suppliers on public decentralised peer-to-peer permissionless ledgers. There is no good reason why such proprietary and highly valuable information should be recorded publicly.

This got my attention, as not every document is classified authority, and an organization or government can modify the block ledger system to suit their demands. Transparency is just one of the qualities of the blockchain technology.

And that transparency is invaluable in events like, electioneering processes where the information isn't top secret.

Admittedly, the issue of an indirect centralization by the bitcoin core team, actually degrades to an extent the actual goal of this technology.

But the 'few self serving white men' and black (as I am)  and women also that are invloves with this innovation are not blind to the flaws but weigh the potential to be worth more.

And we are just ten years down the road. Plenty of time for improvement.