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JPMorgan's Blockchain Chief Is Setting Out on Her Own

fortune.com

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Re: JPMorgan's Blockchain Chief Is Setting Out on Her Own

#11

Post by guiomie »

mark_l_watson wrote: post #7

Probably like most people on HN, I have no idea how effective permissioned blockchain will end up being. I took the edX Blockchain for Business class last year, and was sipping the coolaid, but now I am not as optimistic. For small groups of people and organizations, a permissioned blockchain might be over engineering when a distributed and secure shared database would be fine. For very large scale applications like…

I've come to this same realization, except I'm also still quite on the fence for big corp use cases. I feel like RPC APIs or REST could do as good as a enterprise blockchain with better performance.

May I ask what are the Rust and Haskell based frameworks you are looking at? I've been experimenting with Hyperledger Fabric and might try out BigchainDb.

Re: JPMorgan's Blockchain Chief Is Setting Out on Her Own

#12

Post by brighton36 »

guiomie wrote: post #10
fwdpropaganda wrote: post #8

One datapoint: I've started seeing small dev shops who offer to their clients that they can do things "on the blockchain". "Bitcoin is hype, but blockchain is the underlying technology." Seems like MySQL could solve the problem just as well.

I've been getting more serious about Hyperledger Fabric, and with time, I can't seem to see any use case that can't be solved by a typical distributed app. I see the utility of permissionless blockchains, but private blockchains, I don't get it.

A blockchain is a database with virtue.

Re: JPMorgan's Blockchain Chief Is Setting Out on Her Own

#13

Post by muditsingh5000 »

snissn wrote: post #9
fwdpropaganda wrote: post #8

One datapoint: I've started seeing small dev shops who offer to their clients that they can do things "on the blockchain". "Bitcoin is hype, but blockchain is the underlying technology." Seems like MySQL could solve the problem just as well.

One can't "Roll back" in mysql. Mysql also can't easily create N master-master replication nodes.

I am not sure it would be practically feasible for a "rollback" in a blockchain based system.

Miners would lose a lot of their reward if you suddenly say that this chain is invalid and all data has to be entered again.

It would use a lot of computing resources as well.

Re: JPMorgan's Blockchain Chief Is Setting Out on Her Own

#14

Post by ashelmire »

snissn wrote: post #9
fwdpropaganda wrote: post #8

One datapoint: I've started seeing small dev shops who offer to their clients that they can do things "on the blockchain". "Bitcoin is hype, but blockchain is the underlying technology." Seems like MySQL could solve the problem just as well.

One can't "Roll back" in mysql. Mysql also can't easily create N master-master replication nodes.

It is, in fact, fairly simple to track every change in a traditional db, who did it, and what the prior and subsequent state were. You can rollback such transactions without rewriting the whole db (as you'd have to do with a blockchain).

Re: JPMorgan's Blockchain Chief Is Setting Out on Her Own

#15

Post by bitxbitxbitcoin »

fwdpropaganda wrote: post #8

One datapoint: I've started seeing small dev shops who offer to their clients that they can do things "on the blockchain". "Bitcoin is hype, but blockchain is the underlying technology." Seems like MySQL could solve the problem just as well.

This a million times this. At the same time, if we compare this to the past when shops would offer any thing with a pulse to build a website - maybe that is a teaser to the future ubiquitousness of Blockchain technology.

Re: JPMorgan's Blockchain Chief Is Setting Out on Her Own

#16

Post by nosuchthing »

guiomie wrote: post #10
fwdpropaganda wrote: post #8

One datapoint: I've started seeing small dev shops who offer to their clients that they can do things "on the blockchain". "Bitcoin is hype, but blockchain is the underlying technology." Seems like MySQL could solve the problem just as well.

I've been getting more serious about Hyperledger Fabric, and with time, I can't seem to see any use case that can't be solved by a typical distributed app. I see the utility of permissionless blockchains, but private blockchains, I don't get it.

  utility of permissionless blockchains
Is there actually any purpose of a 'permissionless blockchain' other than turning the security model into an x-threshold of capital needed to compromise the system type threat model?

So far all iterations of permissionless blockchains have been subject to take over from any modestly funded entity.

Re: JPMorgan's Blockchain Chief Is Setting Out on Her Own

#17

Post by ballenf »

muditsingh5000 wrote: post #13
snissn wrote: post #9

Earlier quoted context omitted.

One can't "Roll back" in mysql. Mysql also can't easily create N master-master replication nodes.

I am not sure it would be practically feasible for a "rollback" in a blockchain based system. Miners would lose a lot of their reward if you suddenly say that this chain is invalid and all data has to be entered again. It would use a lot of computing resources as well.

Rollback is typically only discussed with regard to private or closed blockchain implementations. Which just highlights the root "why blockchain?" question even further when discussing private implementations.

Re: JPMorgan's Blockchain Chief Is Setting Out on Her Own

#18

Post by buckie »

fwdpropaganda wrote: post #8

One datapoint: I've started seeing small dev shops who offer to their clients that they can do things "on the blockchain". "Bitcoin is hype, but blockchain is the underlying technology." Seems like MySQL could solve the problem just as well.

It's a fair read, the private blockchain market is underserved/misserved by the "widely" used platforms (IBM Fabric/R3 Corda). The thing that most everyone misses (including IBM and R3) is that the point of a private blockchain isn't the blockchain... it's smart contracts.

REST APIs + a DB can replace most "private blockchains as a time-stamper" usecases but here's the thing they can't do: replicate and trustlessly execute user logic. It's almost like you said _we're fixing SQL injection by making it irrelevant and making SQL into a full language_.

The blockchain itself just provides the trustless/high assurance substrate to then have trustless logic execution.

Re: JPMorgan's Blockchain Chief Is Setting Out on Her Own

#19

Post by buckie »

mark_l_watson wrote: post #7

Probably like most people on HN, I have no idea how effective permissioned blockchain will end up being. I took the edX Blockchain for Business class last year, and was sipping the coolaid, but now I am not as optimistic. For small groups of people and organizations, a permissioned blockchain might be over engineering when a distributed and secure shared database would be fine. For very large scale applications like…

Is one of them Juno? https://github.com/kadena-io/juno. If so, I was lead eng on it so let me know if you have any questions.

FYI we're hiring haskell devs to work on our private consensus layer (based off of Juno), our public consensus protocol (http://kadena.io/docs/chainweb-v15.pdf) and our smart contract language https://github.com/kadena-io/pact + formal verification system. hiring+hn@kadena.io.

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