A lot of simple uses I see being put forward for blockchains could just as easily be done by a simple signing certificate.
Perhaps, for a new generation, certs are too old fashioned, or many have never heard of their uses?
Perhaps, for a new generation, certs are too old fashioned, or many have never heard of their uses?
I'd think that small banks/financial institutions would benefit far more than large companies. They can confidently share data with each other and enforce standards among themselves. Big companies, on the other hand, already have that trust through their reputation and detailed, legally enforceable contracts.
Nice example: say you wanna send $5M from the US to another country. Traditionally, you'd call a big US bank, send them the money b/c you trust them, and they'd send it to another large foreign bank b/c the US bank trusts the foreign one. There's a chain of trust based on the stature of the companies, and they charge a nice fee for that peace of mind. Blockchain can allow smaller companies to get into that game, but not entirely sure how it helps the big ones.
I am definitely not saying blockchain is the only or even the best way to achieve that! Just that this helps explain its appeal
I'm not saying big banks have nothing to gain, they do, but proportionally less than a smaller company that no one knows about. It allows "Bank of Mom & Pop USA" to confidentially do deals with "Little-Town Bank" Shanghai" without going through the mega-banks.