2y ago

Is the blockchain an interesting innovation, aside from cryptocurrencies ?

For a long time, I thought of the blockchain as almost synonymous with cryptocurrencies, so as I saw stuff like "Odyssey" and "lbry" appearing and being "based on the blockchain", my first thought was that it was another crypto scam. Then, I just got reminded of it and started looking more into it, and it just seemed like regular torrenting. For example, what's the big innovation separating Odyssey from Peertube, which is also decentralized and also uses P2P? And what part of it does the blockchain really play, that couldn't be done with regular P2P? More generally, and looking at the futur, does the blockchain offer new possibilities that the fediverse or pre-existing protocols don't have?

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So the actual tech behind could lead to some interesting ways to utilize it, but it’s admittedly squandered on cryptocurrencies and shitty NFT “art”.
Like, you could probably get rid of identity theft being an issue if you had unique tokens that would have your personal info like your legal name, birthdate, SSN, etc to ensure that it’s you and not somebody pretending to be you. Instead of entering in this info, you could just share the necessary tokens with the other party - so if a bank needed your info, for example, you could just give them the tokens containing the different info they need into their wallet. No idea how feasible that would be, but I do think there’s more actually creative and useful ways to utilize the blockchain tech versus just relegating it to shitcoins and ape art.

127 comments