
China’s Social Security Fund to Use Blockchain Technology - posternut
https://news.bitcoin.com/china-social-security-blockchain/
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davidgerard
tl;dr China's social security fund not using blockchain technology

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paavokoya
Blockchain's are only as strong as their networks (distribution/hashing
power/relay speed) as that's what gives them power.

A personalized "blockchain" is a hashed database. Without the vast
decentralized network, it's pointless.

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davidgerard
No, it's _very_ useful! It's called "a git repo, which you can identify by its
hash." A completely tamper-evident track record of a history. Without the
power consumption of Ireland.

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paavokoya

       A completely tamper-evident track record of a history
    

But they want to be able to alter it.. To regulate bad actors and such.. That
won't work for companies if they get hacked and are unable to undo
transactions. We've seen this before.

