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RE: European Financial Transparency Gateway

in #utopian-io • 6 years ago

In a PoA settings I would have gone for the smart contract capabilities over just text. But lately I have been thinking that DPoS is well suited for private blockchain.

I am working on comparing blockchains in my PhD so at some point I will have to look at Hyperledger. As you mention deciding which one to look at and what to look is a pain.

Thanks for steemmessenger. I just recently joined the project and have fun programming around steem and doing some cryptography. By the way I like your posts, it is rare to find valuable discussions n blockchains.

6 years ago in #utopian-io by
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     6 years ago 

    Thanks.

    "Smart contracts" are just code executing in a trustless environment. But that is irrelevant in a corporate / institutional settting where trusted execution is the default. Even getting the hierarchy to consider replacing trusted execution with its distributed, trustless version is a pain in the neck. So no, "smart contracts" are definitely the least useful feature of blockchains for corporates.

    If you want my opinion, Fabric is an over-engineered architecture that responds to two rather contradictory design goals:

    1. implementing functionalities that allows one to mistake it for a blockchain
    2. allowing business to go about their "business as usual" while at the same time claiming that they are "disrupting themselves" and "doing blockchain

    Besides, Fabric is not a product but a toolkit: you need a couple millions to get started and "everything is possible" ... because nothing is built-in. In their tutorials "Alice" can happily double-spend and spend money it doesn't have. When asked, they answer: "oh but you can implement that in business rules" (but forget to add: "provided you pay for X more man-days")

    Looking at blockchains is a lot more fun when your horizon is a PhD thesis than when you are expected to deliver with a young and little proven technology and 250K€ a project estimated at 8M€ (32 times more) using a classical centralized architecture.

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