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He also noted from his technical point of view that heavy calculation is extracted from traditional technology stacks and will not be performed by blockchain operations that need to be scaled. The work will be done "out of the chain".
"The problem is that people do not understand the kind of technology on which bitcoin is based, Blockchain is not Bitcoin," says economist and best-selling author, Jason Schenker. "Blockchain is a combustion engine, if you're not a fan of tanks or kamikaze engines, fine, but do not blame the combustion engine, so the reason for being bearish right now is because of how it's used. they are bad applications. "
For example, Schenker notes that blockchains are used for money laundering and are used as de facto digital bearer bonds.
In the end, however, blockchain can work right now "to reduce transactional friction in the supply chain," said Schenker.
With limited blockchain, in addition to knowing your customers and your trusted partners, it can be implemented right now. "The same technology that allows anonymity is also the same engine that can be used to help the global economy, it's a sort of accounting software that can be customized," said Schenker. "If you have a closed network, it's really exceptional for registration."
He added: "If you have people who can write and access you, you need to have excellent computer security, it does not necessarily prevent people from behaving badly, just because you have a record does not mean that it will stop nefarious activities. possibility to find it. "
Furthermore, we simply do not need blockchain in every aspect of our life. You need blockchain when dealing with a large volume of transactions, which have a relatively low value, which lends itself very well to cybersecurity applications.
Regarding the huge problem of the electricity grid, it really depends on how complicated the cryptography is, according to Schenker – which is what Telesmanic means when he talks about the heavy load of the calculation involved. "There are huge bloats on Bitcoin blockchain," he says. "It is growing at about 50-75 concerts a year, Bitcoin can process only about seven transactions per second.
Furthermore, a blockchain "must not go on forever," Schenker said. If coverage is limited, as well as the parties involved, and a trusted group accesses a network, it may be necessary for all company needs. "Maybe it's not a complete blockchain, but it's essentially the same thing, and the restrictions alone can help the energy problem, and you do not need all the encryption on the back end. access rather than writing Maybe it's a more traditional medium rather than the hash challenges. "
To a large extent, it seems exactly what DHS is looking for. Search for applicants considering use cases related to identity documents for travel, identity of organizations and organizational delegates, tribal identity documents for travel, citizenship, immigration and employment authorization, tracking of cross-border oil imports and origin of imports of raw materials.
"Homeland Security's broad mission includes the need to issue rights, licenses and certifications for a variety of purposes including travel, citizenship, employment admissibility, immigration status and supply chain security," he said. S & T SVIP technical director Anil John. "Understanding the feasibility and usefulness of the use of blockchain and distributed led technology for the digital issue of what are currently paper-based credentials is essential to prevent their loss, destruction, forgery and counterfeiting ".
It looks like an intelligent tender that should be readily reachable by a company with some sensitive blockchain approaches. In the end, IT security issues involve making things more transparent and documentable. At this time, there are still obstacles to achieving the necessary clarity, but all of this is solvable and attainable at the moment.
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