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Please Stop
(jlai.lu)
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this post was submitted on 09 Mar 2024
1298 points (94.1% liked)
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Cool.
Name one successful example.
I mean, it's been, what, 15 years of hype? Surely there must be a successful deployment of a commercially viable and useful blockchain that isn't just a speculative cryptocurrency or derivative thereof, right?
Right?
I can't find the case study, but this blockchain project by IBM was implemented in Singapore and was shown to reduce customs processing times from several weeks to just several hours.
The general idea was that with a successful blockchain implementation, the Singapore government was able to expedite parts of their customs process which normally require intensive human labor, and the use of smart contracts removed the need for having documents sent and resent when all parties had access to the smart contract directly.
There are specific use cases where it can benefit existing processes, but people just think blockchain = crypto.
First thing I found when I searched for "Maersk IBM blockchain":
A.P. Moller - Maersk and IBM to discontinue TradeLens, a blockchain-enabled global trade platform
The only selling point of blockchain is that it's trustless. This becomes a less-useful property when it comes to things in the real world, as you tend to need to trust at least one party.
For example, anything they achieved there with blockchain, they could have achieved with a simple government-run web service and a traditional database.
Except it's not though. Because you have to trust the majority, hence why you've had forks like Bitcoin Cash. Because those people wanted to trust someone else. "trustless" is just a buzzword, like everything else with Bitcoin
the real question is what part of this was specific to blockchain, something that would be difficult or impossible to do without it. if you want to put forward this argument you need to at least provide a simple, clear, coherent answer to that.
in this case, i could easily argue a sqlite db hosted on gitea would work better and theres no way to prove im wrong.
https://git-scm.com/
Yes, both git and blockchain tech use merkle trees. No, that doesn't make git a blockchain
Meh. Doesn't solve the double spending problem.
https://csa-iot.org/certification/distributed-compliance-ledger/
Matter Distributed Client Ledger. In use by Apple, Amazon, Google, Samsung, and many more.
Contains all the attestation information for on boarding Matter devices. Where once it was Google Home vs Apple HomeKit vs Amazon Echo / Alexa, supporting devices can now work cross ecosystem.
Since many of these companies are competitors working together. A distributed ledger makes sense to keep everyone honest and provide a level of tech supported governance.
I'm not understanding what problem this is solving.
The ESRB is a "cross-ecosystem" institution to keep games producers honest—what does this.. DCL(?) actually do?
From what little I've read here:
https://csa-iot.org/developer-resource/white-paper-distributed-compliance-ledger/
All I can say is that this protects companies from homebrew "infractions" on their software copyright by making it difficult to install un-attested firmware updates.
I'm not even confident in that summary. What does this do?
Company A submits a new device for certification signed by their private key.
Company B certifies the device signed by their private key.
Company C on boards a device for an end-user and is confident it came from Company A and has been verified by Company B since the device has a certificate that can be verified from Companies A and B.
Yes it prevents home brew (though you can do home brew by replacing Company C with your own controller), but it also prevents knock offs.
When this information is distributed (like Lemmy federation), between instances, one has a degree of assurances all these records originated from the signer.
While the ledger part is not required, it provides a nice audit trail for the companies who do not trust each other enough without the transparency. Sure a central authority like the ESRB could do the same, but we could also all be on Reddit and not Lemmy...
I mean... the original Bitcoin?
Blockchain never promised anything related to economic viability or stability. Only that it would ensure a P2P network would remain practically safe from malicious transactions by utilizing a system that rewards verification.
By that standard, every other crypto that people use happens to be a pretty successful blockchain use case.
If you want something stable and not a straight cryptocurrency then I'm pretty XRP qualifies because it also handles fiat and other commodities.
Otherwise, most DDBSs don't use blockchain because they don't need verification requirements relating to transactions and ownership. DHTs are way more common like IPFS.
Who are you? Go make bad arguments elsewhere.
In any case here is a bunch
https://www.forbes.com/sites/forbesbusinesscouncil/2021/06/23/trends-in-blockchain-why-big-banks-are-adopting-this-technology/?sh=4963d0c551e2
I stand corrected. One project in Italy and two proofs of concept that never went anywhere.
Truly revolutionary.
Well I use Bitcoin everyday and I’m grateful for it.
Banks don’t support the transactions I need to make.
this gives off illegal vibes
i think its the part where he said banks, the same collection of people who supported enron and coached them on how to effectively get away with extracting billions from several states and the stock market while killing people....dont want his money.
when a bank doesnt want your money you reallll shady
Or maybe I need product X to get by day to day but I can’t afford a health insurance plan.
It’s really not as simple as most people make it out to be.