Hello,

I have been researching about blockchains and stuff and it all seems like a big scam. It’s not sustainable and can be replaced by a simple database.

is there any legitimate use cases of blockchains or it is all just a big scam?

  • audaxdreik@pawb.socialEnglish
    0·
    22 days ago

    No. From the most base concepts, some authority still needs to recognize and enforce the contents of the blockchain (ownership, currency, whatever). If an authority is already trusted to act on this data, they might as well be the secure custodian of it. Or, if not entirely trusted, a third party trustee. At very best the blockchain offers complete transparency and auditability, but this is the trust you place into any given system on your end. If you do not place trust in a system, what are you doing engaging with it?

    Supporters of blockchain generally don’t accept these arguments because they are anti-authority, and without passing further comment on that, fair enough. But that means it will only ever be relegated to buying drugs on the internet and scams.

    • Bobr@lemmy.libertarianfellowship.org
      0·
      21 days ago

      No. From the most base concepts, some authority still needs to recognize and enforce the contents of the blockchain (ownership, currency, whatever).

      What authority is needed when blockchain is used as a currency, what is there to enforce?

      But that means it will only ever be relegated to buying drugs on the internet and scams.

      You can buy much more than drugs using cryptocurrency, so this is absolutely false.