Mind Matters Natural and Artificial Intelligence News and Analysis

TagDecentralized finance and privacy

block-chain-concept-chain-of-network-connections-3d-rendering-stockpack-adobe-stock
Block chain concept - Chain of network connections . 3d rendering

What Would a Financial System Based on Blockchain Look Like?

Adam Goad talks about key differences between banks and blockchains in what creates trust and privacy

Could blockchain could decentralize finance by establishing trust and security without government regulations? In “What Is Decentralized Finance?” (September 1, 2022), computer engineers Adam Goad and Austin Egbert are back with Walter Bradley Center director (and computer engineering prof) Robert J. Marks to discuss how such a system might work. Or maybe not. It didn’t work with decentralized autonomous organizations… But then again, this might be simpler. A partial transcript, notes, and Additional Resources for the first half follow. What difference would decentralized banking make to the average customer? Robert J. Marks: When you pay Uber for a ride, you use a bank or a third party like PayPal, or Visa, or MasterCard, or something. Decentralized banking, hopefully, will let…