quaintSloe OP t1_j41spm3 wrote on January 12, 2023 at 4:17 PM

Reply to comment by birdlives_ma in Did decentralization hit a plateau? by quaintSloe

But in all honesty, there are some things that can improve things. Over the past two years, each data leak is breaking new records. There has to be a time when these centralized institutions just find decentralization as the less of two evils at least.

Buzz words definitely hindered its development, though. I throw up a little everytime I hear crypto buzzwords

pab_guy t1_j42g1c5 wrote on January 12, 2023 at 6:40 PM

How does creating a public ledger solve for data leaks?

Xist3nce t1_j44a8az wrote on January 13, 2023 at 1:43 AM

The “Buzzwords” are happening for a reason. When the face of your tech is 99% scams because there’s no profit in it besides scams, you’re going to have a bad look. Pretending that it’s not the case lumps you in with them. Way I see it, propose an actual use that isn’t just a scam, proof of concept, then figure out how companies can exploit it for cash. Then you get widespread adoption.

crua9 t1_j44xm8l wrote on January 13, 2023 at 4:42 AM

IDK if it will help with leaks. Like I don't see how.

But there is things like DAO that are already a thing, but is being worked on. These are companies that are ran by software. Like there is no manager or CEO. Most are more a hobby thing, but some are legit companies. Then you have DeFi where you can get a loan. In fact, anyone can or anything can including software/AI. Where this is currently impossible with the normal system.

Like there is serious plus sides to it. It's just really early on. Like one of the thoughts is the gov is working one a CBDC which includes a decentralized system. Your ID will be tied to it, and there is pros and cons to that. But one of the neat things is since the gov and given groups are the only ones access to the ledger. And the groups you can control what they see. It is possible to store medical records on it. Meaning the day of someone going doctor to doctor to get drugs to get high is over. Plus, your medical record will show up in real time instead of a hospital having to pull some request which can take days or weeks.