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Cake day: July 1st, 2023

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  • because problems in the bank’s software are the bank’s responsibility. If they lose my money, it’s their responsibility to get it back. Cryptocurrencies are the exact opposite, by design. If you’re fucked, you’ee fucked. unless of course half the participants decide to fork, half don’t and you end up with two “currencies” out of thin air.



  • vrighter@discuss.tchncs.detoLemmy Shitpost@lemmy.worldPlease Stop
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    4 months ago

    Simple, it’s not. If it were, they’d have been using them for decades (blockchains were invented in the 70s).

    The consensus algorithm, which is not the blockchain itself, was invented later. But banks don’t need to reach concensus with themselves. They all maintain their own data, and heavily guard it. So the only bad actor they could have is themselves. And they banks all keep watch each other.