this post was submitted on 06 Jul 2023
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I have yet to see anything legal which actually benefits from a blockchain (and isn't about the blockchain stuff itself, like trading crypto currencies).
I've been working with a company that uses a very common blockchain to timestamp documents/artwork/data etc.
It's a niche use case but it simply couldn't be done before the existance of blockchains.
Could you elaborate why a blockchain is beneficial here? The use case "timestamp documents/artwork/data" does not call for a blockchain to me.
Previously this timestamping was accredited by notaries. This had the problems of cost and the trust in a notary did not translate well internationally.
Now it is almost free to do and the cost of manipulating a blockchain (if possible at all) far outweighs the potential gain from malice.