Real estate deed ownership database - immutable distributed database spread around regional government offices.
Speaking from my experience, the records are being kept horribly over here, there were many projects to cenralize it but the original data is in such sorry state that it is basically impossible. Not to mention that it is very profitable for some that it is in such sorry state.
They key idea is that you are unable to modify who owned what in the past, only change ownership in the current time, and the records, as per current system, are spread all over the local government entities.
Same thing for financial ledgers - immutable record of transactions to which only banks can write to.
I think that stocks are too volatile, but it is a such shock to me that you can only find out who actually owns a specific stock at T-2 ..
In both cases there is no competition for who solves the next block faster, so costs of computation costs can be kept low. I'm more attached to immutability of such databases, than distributed trust, but one cannot exist without other in blockchain.
Speaking from my experience, the records are being kept horribly over here, there were many projects to cenralize it but the original data is in such sorry state that it is basically impossible. Not to mention that it is very profitable for some that it is in such sorry state.
They key idea is that you are unable to modify who owned what in the past, only change ownership in the current time, and the records, as per current system, are spread all over the local government entities.
Same thing for financial ledgers - immutable record of transactions to which only banks can write to.
I think that stocks are too volatile, but it is a such shock to me that you can only find out who actually owns a specific stock at T-2 ..
In both cases there is no competition for who solves the next block faster, so costs of computation costs can be kept low. I'm more attached to immutability of such databases, than distributed trust, but one cannot exist without other in blockchain.