RE: blockchain and music industry20 Jan 2018 13:28
this is the whole point, the chain is incorruptible, the human entry and exit points are not. At some point the chain has to interact with the real world. Would you buy a house off someone via blockchain, if it's so secure?. Currently you have solicitors involved both ends, id checks, money checks, third parties involved verifying the people in the REAL world are who they say they are. People say that blockchain could remove all of this, yes it can, but not the NEED for it by us humans. Would you sign over a house or pay all your money to a complete stranger, just because he has his blockchain keys? How do you know he is the person that is meant to be responsible for those keys? So let's go a step further, let's take fingerprint or Isis recognition off of everyone, so to make a transaction you have to put your finger on a Biometrics scanner to prove it's you. Sounds good yeah? But where is all this Biometrics data going to be stored...on the blockchain. Every single node is going to contain all of your highly highly personal data. All out there on the cloud. Do you want that, do you think the public will trust that?. It doesn't matter that the data can be incorruptible, it matters that it can be accessed.