So Microsoft, who sells Azure SQL (relational) and Azure Cosmos (nonrelational), for scaled purposes, uses Blockchain for a data warehouse. *shakes head sadly*
Amid 'idiotic blockchain phase,' EY and Microsoft tout smart contracts
In an effort to demonstrate there are actual uses for blockchain technology, global professional services biz EY and Microsoft have teamed up to offer companies a way to manage rights and royalties. Though the system is designed to serve any industry that deals with intellectual property licensing and royalty payments, the …
COMMENTS
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Friday 22nd June 2018 08:32 GMT Dr Who
Exactly. We are left guessing what EY's five qualifying questions are and there are some key details missing from the article regarding voting nodes and who controls them, but almost certainly this should be handled by a conventional database. Nothing is gained in this scenario from using blockchain - except of course a shed load of PR column inches.
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Friday 22nd June 2018 18:26 GMT Anonymous Coward
Re: One thing to remember
'Smart contracts' are just a terrible match for contracts: they're programs, which obviously have been known to contain bugs, especially when given unexpected input, and they're programs, which even if formally correct may not deal with all the edge cases which means contracts (real ones) need interpretation quite often, and finally they're immutable which makes them a pain to revoke (obviously you can add a later superseding one so this latter is may be not such a big problem).
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Monday 25th June 2018 11:53 GMT Anonymous Coward
A five-point test that EY applies:-
1. Are there multiple parties in this ecosystem? Blockchains get more secure with more
parties in the network, one participant networks are not especially secure.
2. Is establishing trust between all the parties an issue? Blockchains improve trust between
participants by having multiple points of verification.
3. Is it critical to have a tamper-proof permanent record of transactions? Blockchains
create permanent records that cannot be edited or deleted.
4. Are we securing the ownership or management of a finite resource? Core logic in the
system is designed to prevent double counting of assets, record ownership and transfers.
5. Does this ecosystem benefit from improved transparency? Blockchains are transparent
by design — where ownership or control of assets is public and transparent by design.
Item 3 nails it here... along with a date/time stamp...