• Knock_Knock_Lemmy_In@lemmy.world
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    4 days ago

    If all contributors are trusted entities,

    This is not true, even inside a bank. Employees commit fraud. Branches don’t trust each other.

    the amount of extra work to maintain

    Once built, maintaining is easy.

    and modify the blockchain

    Er. The whole point is that blockchains are immutable.

    • bountygiver [any]@lemmy.ml
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      3 days ago

      But as long as you can have a trusted central authority, you don’t need blockchain without needing to trust all the clients. The central authority can enforce authentication and authorization for what each client can do, combine with proper logging it is already sufficient. Blockchain is only needed if there’s absolutely no central authority (which is not the case for any traditional business as by nature they already have a hierarchy where the top would act as the central authority, therefore any business that implements blockchain internally is just BS-ing).