this post was submitted on 09 Mar 2024
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as hostile as people are to block chain due to NFT's and bad implementations, the technology itself has its use cases. It's a great solution for information exchange that requires verification and Immutation. This makes them perfect for ledgers or transaction networks.
It's just there is so much bad PR regarding it everyone just discredits it. Not all of the block chain technologies are massively energy intensive per transaction, it's just many of the cryptocurrencies use the most intensive one because it's also arguably the most secure
Cool.
Name one successful example.
I mean, it's been, what, 15 years of hype? Surely there must be a successful deployment of a commercially viable and useful blockchain that isn't just a speculative cryptocurrency or derivative thereof, right?
Right?
I can't find the case study, but this blockchain project by IBM was implemented in Singapore and was shown to reduce customs processing times from several weeks to just several hours.
The general idea was that with a successful blockchain implementation, the Singapore government was able to expedite parts of their customs process which normally require intensive human labor, and the use of smart contracts removed the need for having documents sent and resent when all parties had access to the smart contract directly.
There are specific use cases where it can benefit existing processes, but people just think blockchain = crypto.
First thing I found when I searched for "Maersk IBM blockchain":
A.P. Moller - Maersk and IBM to discontinue TradeLens, a blockchain-enabled global trade platform
The only selling point of blockchain is that it's trustless. This becomes a less-useful property when it comes to things in the real world, as you tend to need to trust at least one party.
For example, anything they achieved there with blockchain, they could have achieved with a simple government-run web service and a traditional database.
Except it's not though. Because you have to trust the majority, hence why you've had forks like Bitcoin Cash. Because those people wanted to trust someone else. "trustless" is just a buzzword, like everything else with Bitcoin
the real question is what part of this was specific to blockchain, something that would be difficult or impossible to do without it. if you want to put forward this argument you need to at least provide a simple, clear, coherent answer to that.
in this case, i could easily argue a sqlite db hosted on gitea would work better and theres no way to prove im wrong.