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China youbi digital assets limited

China youbi digital assets limited

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Can blockchain solve all problems?If it can't, does it have value?I don't think it's realistic to expect blockchain to cure all diseases, but that doesn't mean blockchain is worthless.


Rarely in human history has a new technology been so controversial.This is the block chain technology, from the birth of controversy.Some people believe that blockchain is nothing but a hype tool with no real value.There are also those who believe that blockchain has real underlying innovation that will bring about real change.Can blockchain solve all problems?If it can't, does it have value?I don't think it's realistic to expect blockchain to cure all diseases, but that doesn't mean blockchain is worthless.Blockchain makes books more reliable through distributed bookkeeping. Even if there is a problem with the input data of blockchain, bad behaviors can be found by combining with AI or big data analysis.Blockchain will get better and better.

Some people think that this is contradictory. Isn't it true that blockchain can solve the trust problem?The transaction chain connects farmers, miners, component manufacturers, commodity manufacturers, transporters, wholesalers and retailers, who are all involved in the transaction chain of global trade. However, the trust problem of block chain creates frictional, inefficient and opaque systems on the transaction chain.Since this is an immutable distributed ledger, they add, all you have to do is "input immutable garbage, output immutable garbage."That's a good question.

It points to the key challenges facing the technology as it moves toward glory.But this so-called "last mile" problem is also a vampire problem.If we dig deeper, it provides a useful framework for understanding the true power of distributed ledgers and blockchains.

First, no one should think of blockchain as some sort of "distrusted" utopia.No such society has ever existed.If it did exist, it would hardly be utopia.

The same is true of blockchain ecosystems.Bitcoin and other unlicensed payment systems exchange value entirely on the chain in native cryptocurrencies, rather than on unreliable off-chain data, such as reports from factory floors.

These vulnerabilities exist not only in the issue of detailed records of centralized exchanges or wallets, but also in computing devices used to manage encrypted assets.Users must trust the manufacturer and others who have access to their equipment and internal parts and components, as these people have access to the equipment before the user owns it.

That's the nature of the world.Trust is everywhere, all the time.


We're only dealing with one layer, but this layer is critical

So why use a blockchain solution?Answer: because while it doesn't solve all problems, it does have the potential to improve an important trust issue in socio-economic structures.

If we have a system that reliably records a series of state changes in a particular data set, it is impossible to modify it unilaterally, regardless of intent or purpose, without the agreement of others.In this way, we can remove this layer of uncertainty from the multifaceted trust process at the heart of any economic community.I think that's progress.

Let's face it: spreadsheets and enterprise software solutions don't solve any enterprise data management problems.But they do optimize.

In this case, we are trying to improve the specific layer of trust is not ordinary old layer, it can be said to be the most important: ledger.

Books are vital to society.It is no coincidence that they appeared in the dawn of civilization about 7,000 years ago.In creating records of transactions that different people can refer to, communities form Shared facts, an accepted basis on which they can collaborate and exchange money.(note: we are not talking about an absolute truth or fact, but a fact that is fully accepted and agreed upon.)Books play a vital role in solving the problem of mistrust between us.

The problem is that because we have to trust centralized ledger administrators to define Shared facts, another vulnerability enters a very important record-keeping layer.This is where the value proposition of decentralization lies.

In the process of weakening the power of centralized bookkeeping administrators, it makes the Shared fact of distributed bookkeeping records more reliable and powerful.

Ironically, given all the talk of "no trust" or "trust minimization," the result of any effective blockchain solution should be to strengthen our collective trust with each other, not undermine it.


Find patterns of bad behavior

With a data log that everyone trusts, you can do a lot with it, even if you don't necessarily trust the people who input the data.For example, you should even be able to use it to save the same data sources that are not necessarily trustworthy and to clean up bad data sources.When we combine decentralized, non-tamper able ledgers with other information management tools, such as data analysis and AI, the prospects for availability are further enhanced.

Suppose there is a workshop worker in the supply chain who has so far been far more scheming than anyone else, who has been recording the fallacy of his output in a way that no one else has noticed.His bad behaviour may be hard to spot with the human eye, but it is vulnerable to computers running sophisticated network analysis.It exposes prototypes in the big data schema.

Now that they have consistent order, tamper-proof, and generally accepted data entry records, computers can more easily detect anomalies and danger signals.Not only humans but also devices can be tested in this way, creating feedback loops that iteratively enhance trust in the system as a whole.

So blockchain is not perfect, it can also store garbage.However, in many cases, with it, it will become better.We may even find that it gets better and better.

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