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RE: Siacoin - thoughts?

in #cryptocurrency7 years ago

Interesting point about regulatory compliance. It goes against the grain of a lot of current cryptocurrency setups. By that I mean primarily talking about Bitcoin and the slightly sketchy brush it's often tarnished with.

Equally though as DApps start to take shape for example, this cryptocurrency-entering-the-real-world thing is going to happen way more. There are going to be a lot of clashes with the 'old system'.

It's going to be interesting to see how it plays out and most importantly, see how old institutions adapt.

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Yeah for crypto anarchists its not an issue, but businesses have to comply and also have reputational risk to handle too.
I did see a new lending platform white-paper Dharma where they have integrated KYC/AML identity checks into the architecture, so its possible. Whether such infrastructure would be cost effective and clunky for data storage is unknown (by me at least).
I sense Sia and data storage can work in this type of framework because it offers a better redundancy and resliency model than current centralized providers.
Where I think the problems really occur is on projects like Golem and SONM where they offer no advantages except (possibly) price, in these cases I see this being a stumbling block.