Blockchain

[DSMan195276]

Thanks for that input DSMAN. From my read of Blockchain structure, it's being adopted more and more by various companies which need the most accurate data upon which to make decisions. A company for example whose inventory is critical. Exactly how many of what items, for any company which has a product to sell, could make a big difference in their profits. Similarly Banks need that higher level of accuracy of data ... list is getting longer on companies use of Blockchain other than tracking bitcoins and the like.

I'm pretty cynical on this, so feel free to ignore me But I don't think so, I think that is just companies attempting to bump their stock price by mentioning "blockchain" since it's the cool thing.

Functionally, a blockchain doesn't make your data any more accurate than a database would be. The distributed aspect a blockchain (Ex. git) allows is powerful, but pretty much all the situations people attempt to use blockchain, such as tracking inventory, don't require a distributed system, and if it's not distributed then a blockchain just becomes a worse version of a database. If it actually is distributed then you now have a lot of problems that blockchain doesn't solve for you, Ex. what you do when systems disagree on what chain is the valid chain. Bitcoin solves a lot of these things through a POW algorithm, but that falls apart at small scale. These are problems that a database simply doesn't have.