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is there any legitimate use of blockchains?
(lemmy.ca)
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this post was submitted on 25 Aug 2025
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It’s also a problem of ownership. For exchanges between banks, a blockchain is better because no bank would be the owner of the database.
Plus it’s safer because altering a database is usually trivial while altering a blockchain is virtually impossible.
If you have multiple banks, you can have multiple copies of the same database. If any one bank modifies their copy, it is obvious who modified it and what was changed. No blockchain needed.
How do you sync those copies? Whatever sync process you use could be abused to propagate wrong transactions into other banks unless you figure out a solution to the bizantine generals problems, other than a Blockchain I mean.
Something similar to the way files (and bank transaction records) are modified on a drive. A first message indicating that a specific transaction is starting, a second message with the transaction, and a third message indicating the transaction is complete.
If any message is not acknowledged, it can be resent (with an ID so it's recognized as a duplicate), and if all else fails, flag a human.
The system doesn't need to be 100% accurate, just good enough that only a few humans are needed to fix the problems.
The Byzantine Generals problem is only a problem if you need 100% certainty from both sides. If you're willing to put up with 99.99% certainty, then network engineers have solved this problem many years ago.
Everything is possible, but it would be a much more complex solution than running a blockchain that is designed for that use case.