Maesrk & IBM shutting down blockchain shipping platform

[johnarb]

correct, it is a decentralized validated ledger. I don't think it is useful inside a single company but it is useful for a platform like TradeLens. I developed against a few blockchains and it isn't cumbersome at all. In some cases it's easier than standard practice.

I have no idea what TradeLens is but if it does not need to be decentralized, it does not need a blockchain

I've traded quite a bit on dexes (decentralized exchanges for the uninitiated) so understand your argument for a blockchain for that use-case

I've traded on Uniswap, Sushiswap, PancakeSwap, SpookySwap, TraderJoe, TriSolaris, UniWswap on their corresponding dominant blockchains

and have risked my crypto assets via yield farming to provide liquidity as an AMM (automated market maker) on liquidity pools

 

[The_Krakenite]

walmart is supposedly using block chain to track lettuce to curtail the impact of e coli breakouts.

Fun Fact:
The Toronto Stock Exchange has been using blockchain for many years now.

 

[VicBee]

Please don't burst my bubble. My understanding of, and reason for believing in blockchain, is as a decentralized system of checks and validations. My background is in supply chain and I could see the tremendous value of a system that allows each entity in the sc process to check receipt, completion and sent from pre production to retail, reverse logistics and eventually dismantling, all in a decentralized way that is, without depending on multiple integration of applications that don't always play nice with each other.

 

[johnarb]

Please don't burst my bubble. My understanding of, and reason for believing in blockchain, is as a decentralized system of checks and validations. My background is in supply chain and I could see the tremendous value of a system that allows each entity in the sc process to check receipt, completion and sent from pre production to retail, reverse logistics and eventually dismantling, all in a decentralized way that is, without depending on multiple integration of applications that don't always play nice with each other.

One of the projects I had invested in the past, which is now dead was Factom $FCT

Using the blockchain, It was going to help unlock trillions of $ of value through honest record keeping of land titles all around the world, where there are many corruptions by local officials to destroy records or steal from poor uneducated land owners

Factom had a contract with Bill and Melinda Gates foundation to have record the flow of funds to charities and organizations and also with the DHHS I forgot most of the details but shipping container logs and stuff like that

The problem is that to have decentralization and honest records on the blockchain, the ones in control of the existing centralized systems are not incentivize to give up control

In your scenario, if all those records on supply chain were on a secure blockchain, how are the validators incentivized to secure and keep the integrity of the data, i.e. no modifications?

If I wanted to steal $10M worth supply of widgets and paid $100K to a validator to change the record and have it permanently recorded on the chain, how can that be prevented?

In Bitcoin or in Ethereum, the validators are paid in tokens that have monetary value and they cannot be bribed

 

[johnarb]

I meant 30-50 columns, but no one reads my crap anyway...

 

[VicBee]

One of the projects I had invested in the past, which is now dead was Factom $FCT

Using the blockchain, It was going to help unlock trillions of $ of value through honest record keeping of land titles all around the world, where there are many corruptions by local officials to destroy records or steal from poor uneducated land owners

Factom had a contract with Bill and Melinda Gates foundation to have record the flow of funds to charities and organizations and also with the DHHS I forgot most of the details but shipping container logs and stuff like that

The problem is that to have decentralization and honest records on the blockchain, the ones in control of the existing centralized systems are not incentivize to give up control

In your scenario, if all those records on supply chain were on a secure blockchain, how are the validators incentivized to secure and keep the integrity of the data, i.e. no modifications?

If I wanted to steal $10M worth supply of widgets and paid $100K to a validator to change the record and have it permanently recorded on the chain, how can that be prevented?

In Bitcoin or in Ethereum, the validators are paid in tokens that have monetary value and they cannot be bribed

Yes, if someone wants to steal it will happen. Trucks going from Turkey to Germany are regularly held up by gangs stealing content.
I was thinking more in terms of supply chain visibility for order management. When one function or party completes a task it's recorded on the blockchain for all other parties to know in anticipation of the next step.

 

[johnarb]

Yes, if someone wants to steal it will happen. Trucks going from Turkey to Germany are regularly held up by gangs stealing content.
I was thinking more in terms of supply chain visibility for order management. When one function or party completes a task it's recorded on the blockchain for all other parties to know in anticipation of the next step.

Not sure you need a blockchain for that, all you need is a cloud-based workflow that has some built-in rules, i.e. no modifications of any existing record aka immutable which is what each block on a blockchain is

 

[DaveV]

Australian Securities Exchange Cancels Blockchain-Based Clearing System at $168M Cost

https://www.coindesk.com/business/2...lockchain-based-clearing-system-at-168m-cost/

 

[NoVoodooHere]

Interesting thread with the usual hashing out of views between the cultists and the common sense evangelists.

So it's been quite some years now, and can anybody point to a single use of this "technology" other than for enabeling these coins? And this despite a yuuuuge amount of investment, time and effort.

Maybe it's time to call it what it is.

Satoshi'd

 

[The_Krakenite]

So it's been quite some years now, and can anybody point to a single use of this "technology" other than for enabeling these coins?

Do you honestly mean to tell us that you don't even know what a smart-contract is? Have you not ever seen a DAO? You're basically asking us what use is an equity, other than making money for the 'capitalist' owners.