Apple having more security issues points out the importance of blockchain type systems.
Blockchain promotes systems that don’t rely on “trust.”
We rely on math and incentives to promote the safety of our Apps and our financial instruments.
Nearly instant ledgers protect our securities’ integrity.
The instant ledger also allows smart contracts to calculate things like short interest instantly.
Yesterday some people couldn’t sell Tesla. How long does it take for banks to verify the positions of all the banks and players? The stock wasn’t budging yet everyone was supposedly using up the entire supply of shares to sell it???
It would take the current system days to know that for sure.
Blockchain ledgers with smart contracts would verify that as probably untrue or possibly true instantly.
With smart contracts we’d always know what assets are at which bank and in our case at which network like the ethereum network.
This prevents things like having the same mortgage security in 50 different debt packages.
We can calculate and verify that instantly using smart contracts.
That could have prevented the Great Recession and the ensuing global financial meltdown.
People aren’t yet fully realizing the huge value of blockchain and smart contracts.
