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SatansMoisture t1_j1z8aus wrote

In my opinion, Crypto currency is a scam. I would rather bury gold bars in my backyard. Blockchain however, is interesting as a security protocol.. It has more potential for a multitude of applications in the future.

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_Schwartz_ t1_j1zbxdg wrote

What would those be?

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AlfaHotelWhiskey t1_j1ze463 wrote

Sovereign identity is one function- you can attach identity to data on the ledger and claim IP rights as well as track and “own” rights to data files as they are iterated or updated. It also has a digital signature function that allows you to legally sign data as a contract.

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_Schwartz_ t1_j1zhhst wrote

I see, and that'd be useful as a global system as well right? I know each country has an implementation of these things like e-signatures etc. If I'm understanding correctly;;

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AlfaHotelWhiskey t1_j1zipa4 wrote

Digital signatures and electronic signatures are somewhat different from each other. An electronic signature can be an image or a check mark or even a recorded sound whereas a digital signature is tied to a certification authority attesting to the validity of the signer (or something like that). Standards for digital signatures vary by country but my understanding is that updates are underway to cover blockchain signatures (NIST in the US and EIDAS in the EU)

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Kbeau937 t1_j1zdvst wrote

when you buy gold, you only own the digital transaction, you dont own any gold bars to bury...

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SatansMoisture t1_j21bye9 wrote

You know its possible to buy physical bars of gold, right?

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Kbeau937 t1_j21c2y7 wrote

Very, most people have no idea that they are investing in paper gold.

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