Quote from: shoreno on Today at 03:15:01 AM

blockchain is used for the usage of the blockchain ? i dont get it . blockchain is a system or technology . you can rather say that blockchain is used for other blockchain related products such as cryptos and many other more . other company will use blockchain more and more if they see that many companies are already using it and if they see that the results of using a blockchain is good and can drastically improve or transform the old way of thier business

I didn’t say “a blockchain,” which means that I referred to the technology. Blockchain, as any other technology, is used to solve particular problems. Namely, Satoshi created blockchain as a solution that allowed to order events in the ledger (or place timestamps, in other words) without the involvement of a trusted intermediary (or in a trustless Byzantine setting, in other words).

Now, please, tell me why this company (or any other company) would desire to place a database of their business related events in a public Byzantine setting instead of maintaining the database itself? Solutions for the problems of product tracing and authenticity verification were introduced long before the invention of blockchain (check out Certilogo, for example). You can use a highly customizable solution that will fit all your needs and feature much lower maintenance costs.

The usage of blockchain in most cases is justified merely by an opportunity to proclaim the usage of blockchain. Although the craziest hype seems to be gone at last, it’s still a viable way to start looking cooler in the eyes of investors and consumers.