[2016-07-13] Mint: Blockchain governance

[polynesia]

Blockchain governance

http://www.livemint.com/Opinion/7WB68uUCDoFAvYCTCcWDTP/Blockchain-governance.html

One of the challenges of doing business on the Internet is that it is so hard to know who you are transacting with.

Pure Internet trades take place between parties who don’t know and cannot, therefore, trust each other. Which means that every time you buy a product online, you have no guarantee that the person you are paying hasn’t already sold the product to someone else.

To avoid getting on the wrong side of this sort of double-spending, we end up using intermediaries such as e-commerce marketplaces—organizations we can rely on to maintain a ledger of all the products sold by a given seller so that you know that your product hasn’t already been sold.