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Politics : Tell a joke - anything goes
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To: Sun Tzu who wrote (4928)2/13/2019 4:18:54 PM
From: Pogeu Mahone  Read Replies (1) of 13780
 
You are a card.
Having fun?

Today:

"As a comparison, remember that the original internet was fairly useless in the business context and was limited to companies posting their marketing brochures online. Today you can manage your end-to-end supply chain from manufacturing to the customer delivery, complete with payments, coordination, legal issues and on the internet and much of it can be automated. But for this to happen a lot of technologies had to happen first which took decades to roll out. The same goes for blockchain and digital currencies."

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2 days ago Message 32022651

(1) The most practical use cause involves international trade. As it stands, if you want to import something, there are a lot of uncertainties involving whether or not the buyer actually has the money and whether or not the seller can deliver the goods. Today this is handled by getting a letter of credit from your bank and have it acknowledged by the seller's bank. Then potentially having an escrow account and contracts subject to inspection of the goods you receive. The whole thing is a mess but that is the best you can do today.

With blockchain and smart contracts the process can be automated and be nearly instantaneous. The reason this has not happened yet is because nobody has manged to write the software so that it is *both* fast and secure.
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