You are viewing a single comment's thread from:

RE: Goldman Sachs Blockchain Presentation turned into Video Format

in #blockchain6 years ago

OK - @acidyo first off - thank you for putting that together for us.

But I have a serious reservations about Goldman Sachs intentions for getting involved. Midway through it talked about buying tickets, then about tracking personal information and ID - that is super scary. We have enough problems today when Target gets hacked and millions of people's credit card and personal info gets stolen, and that was supposed to be SSL secure, encrypted , whatever. Is it really a good idea to just freely give our personal info to world via blockchain?

What we do here and exchanging cryptocurrency does not entail my giving my home address or id to anyone in the blockchain.

How is what they presented a good thing?

Sort:  

when Target gets hacked and millions of people's credit card and personal info gets stolen, and that was supposed to be SSL secure, encrypted

That's the difference between the systems we have now and the new cryptographic securities blockchains provide. Blockchain is created to be unhackable, even though we today only have public blockchains and ledgers the time will come were they will be private but still as trusted as the ones we have today.

Got it - so it won't be raw data like it is now. It would be encrypted before entering into the blockchain. But in theory then, the government could use that as a way of gaining oversight into cryptocurrencies then, yes/no? If they choose to force regulations on it - under the pretense that it's secure data embedded with the trades.

Is it really a good idea to just freely give our personal info to world via blockchain?

No, that's never a good idea. About the ID and fingerprint part I'm sure they just meant to use the cryptography of blockchain to ensure no one can hack or steal your identity by the usual means.

It's going to be interesting to see how this plays out over the next few years.

Coin Marketplace

STEEM 0.19
TRX 0.06
JST 0.026
BTC 23106.16
ETH 1582.57
USDT 1.00
SBD 2.48