Comment on Please Stop
UraniumBlazer@lemm.ee 2 months agoBanks/hackers can manipulate data if they want to. Manipulating data on blockchains in way waaaaay harder.
Comment on Please Stop
UraniumBlazer@lemm.ee 2 months agoBanks/hackers can manipulate data if they want to. Manipulating data on blockchains in way waaaaay harder.
hark@lemmy.world 2 months ago
Using a blockchain to maintain their internal ledgers means they have complete control over that blockchain, so they can manipulate it all they want. Blockchains aren’t magic.
UraniumBlazer@lemm.ee 2 months ago
Oh, didn’t see the “internal”. Yea, that’s stupid then.
Knock_Knock_Lemmy_In@lemmy.world 2 months ago
Who are “they” in the above message?
If you trust all your employees then an internal blockchain is useless, but do banks really totally trust their employees?
hark@lemmy.world 2 months ago
A blockchain won’t solve incorrect transaction information any more than an audit log in this case. This is an entirely internal process controlled by the bank and access would be restricted, so they couldn’t just edit audit logs. How do you think a blockchain would be used to improve this?
Knock_Knock_Lemmy_In@lemmy.world 2 months ago
The actions that an employee could perform would be limited by their private key’s abilities. Blockchain can be preventative. It’s not only for retrospective analysis.