Quote:
Originally Posted by ruff
Imagine using the blockchain to follow a T-bone steak. It documents from breeding, to calf, feed, antibiotics or organic, farm or ranch, slaughterhouse, distribution, grocery store or restaurant to your plate. It can be used for provenance or chronology of the ownership, custody or location of anything. That is a game changer.
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Bet the companies actually using (or proposing to use) the Bitcoin blockchain to store data/proof of data are crapping themselves right now. Block size at maximum capacity, tens of or hundreds of thousands of transactions sitting in limbo in the memory pool, transaction fees rising as people compete to have theirs included in a block which can't take everything...
You can't reliably prove an object exists at a specific time if the transaction containing the proof hash takes 30 hours to be incorporated into the blockchain.
