
Daiwa to adopt blockchain for Myanmar stock trading - ayanray
http://asia.nikkei.com/Business/Companies/Daiwa-to-adopt-blockchain-for-Myanmar-stock-trading
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rtpg
I started writing a furious "why would you even do this?"-style post, but this
paragraph stood out:

>Blockchain technology shares transaction records with multiple computers.
Stock trading is typically saved in servers at bourses, but records cannot be
referenced when communications infrastructure fails.

>Using blockchain systems, brokerages can continue a minimum of operations,
such as checking past transaction records and outstanding balances even when
failures occur, although new transactions cannot be checked.

The "blockchain as a distributed transaction DB" concept is more interesting
than I thought, and it's probably really easy to get started given all the
bitcoin tech around.

~~~
Dylan16807
> The "blockchain as a distributed transaction DB" concept is more interesting
> than I thought

Not particularly. It's using the wrong tool for the job. A distributed
database is helpful in many ways, but you don't need an attached proof-of-work
system.

~~~
forgotpwtomain
> Not particularly. It's using the wrong tool for the job. A distributed
> database is helpful in many ways, but you don't need an attached proof-of-
> work system.

Blockchain doesn't imply PoW. You could consider each block minted with e.g. a
M of N signature scheme, in the case of a stock-trading system you don't need
open anonymous/participation and it's quite fine to rely on trusted parties.

~~~
Dylan16807
I suppose, but at that point you're really blurring the line between
'blockchain' and 'authenticated database logs', and it starts to become a mere
buzzword.

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icebraining
Yeah, every invoicing software in my country hash chains the documents for
validation purposes (it's a requirement for SAF-T[1]), yet we don't call it a
"blockchain".

[1] [https://en.wikipedia.org/wiki/SAF-T](https://en.wikipedia.org/wiki/SAF-T)

~~~
forgotpwtomain
Because there are no blocks, no transaction ordering and no distributed
consensus?

~~~
icebraining
A block is just a structure with a set of transactions, a date and the hash of
the previous block. SAF-T has all that, except the "blocks" have a single
transaction. Transaction ordering is provided by the chain of hashes - each
record/block links to the previous, just like in the Blockchain.

There is no distributed consensus, but that's the point - there doesn't seem
to be here either.

