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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: dvdw© who wrote (137046)	12/9/2017 3:47:16 PM
From: Elroy Jetson	1 Recommendation Recommended By dvdw© Respond to of 217592

Digital signature programs, nothing more than a previously set-up password connected to a validated ID are essentially blockchains with a trusted agent, are already widely used to complete real estate transactions electronically without signatures. This works because the number of people (nodes) involved might be 5 or 16 and because there's a trusted signature agent in the middle. The final result of the multi-node real estate transaction is recorded publicly by the county government which can be viewed by millions. To make this everyday technology fail, simply require that each step of the real estates transaction has to be updated by all of the computers of everyone who might be interested in checking this chain of title in the future. The "advantage" is the digital signature company and the county recorder no longer have to be trusted agents, but the disadvantage of a 20 million-node real estate transaction system is real estate transactions would require ludicrous amounts of bandwidth, electricity, and leave buyers and sellers waiting months or years for their property transfer to be completed by the network. Taking away the trusted agent who will indemnify parties for hacking or false approvals provides huge problems without a benefit. It's the same reason chip and pin Visa cards are so much faster than validation from an external server. The chip in the card validates itself or the pin without depending on a network connection. In the US card issuers decided to accept less security of merely validating the card with the chip while in Europe and other regions card issuers require the card user to also enter their PIN which is then validated by the chip in the card. If I use a four digit PIN number to pay for a purchase with Samsung Pay my Galaxy Note phone can often crawl to a virtual halt waiting for each digit of my heavily encrypted PIN to be validated in South Korea. But once I switch to the encrypted fingerprint stored on my phone to validate a purchase it's lightening fast. Samsung is being complete bitch with this technology, having bough MST the magnetic strip technology company which owns the patents to swiping cards through pay points, and refusing to license this to other phone makers leaving them dependent upon finding a payment machine with an RFID reader so the phone user can use Apple Pay, Andorid Pay or other RFID payment systems. It's fun when clerks tell me their payment system doesn't take Apple Pay etc. I just place my phone next to the card reader and within a second or two my receipt pops out without having to click on yes and usually without having to sign my name because neither side of the transaction requires real time network access. Someone could really screw up Samsung Pay by requiring each of my purchases to be authorized by the network of all cellphones writing my transaction to their blockchain stored on a multi-terabyte storage system attached to their phone.