Ask Lemmy
A Fediverse community for open-ended, thought provoking questions
Please don't post about US Politics. If you need to do this, try !politicaldiscussion@lemmy.world
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
view the rest of the comments
This is probably the key thing. Let's say that you wanted to purchase a home in Turkey but you live in Canada (just play along). A transaction on the blockchain can show a verified transfer of funds, record the purchase and act as proof of ownership.
As you mentioned, the big issue is computational expense.
But is this actually a problem. Does people go around now and need proof that they bought some property?
To me it seems like blockchain is a solution looking for problems that doesn’t really exist.
Yeah, all the time, obviously. That's literally what a receipt is. If people did not need to prove that they owned things, then receipts, titles and deeds wouldn't exist.
Title fraud is a real thing
Palestinians commonly have to defend their home ownership to settlers claiming their land but i doubt blockchain would help even if it was around long enough to record such a thing. American Indians are another obvious case of "but it's written right here .." where blockchain probably wouldn't help.
Yeah, my original thought was that you could see a record to show that a public works contract put forth by Politician Joe and awarded to ABC Roadwork Inc, and then later you'd see that most of the contract money ended up in Joe's cousin's investment account.
And again, I don't think it's foolproof because ABC would just immediately convert everything into cash to pay their vendors. But it's still nice to think about alternatives even if we know they might be impractical because hey, that's how we come up with better alternatives.
If we're imaging a world where corporations and governments would agree to this level of accountability, wouldn't it be eaiser to just make certain financial transactions into public records?
Currently we consider some things public records (registering a company y, the voting roll) and other things private (income and taxes, bank transactions). If there was the will to chnage things we could just make the financial records of all elected government officials and corporations with government contracts automatically publically accessible. This doesn't need block chain, a law could be passed deeming these "in the public interest" such that banks would have no grounds to refuse a request from journalists or any citizens to access them.
This would be a lot simpler and cheaper than block chain. But its unlikely to happen for the same reason that block chain won't be used for this either.
The only counterpoint I can think of is that the distributed ledger is much harder to fuck with than a physical or digital archive with a couple backups.
Sure, I suppose any public record is a public record. And you're right, as much as I'd love to see it and it'd be good for the world, I don't imagine it happening in my lifetime.
I suppose either way an unscrupulous person might find a way to launder their money.