Ask HN: What benefits does the blockchain provide?
The blockchain&#x27;s (current) prime use case: triple entry accounting. In double entry accounting, a ledger only contains debits and credits. With the blockchain, the blockchain&#x27;s attestation of the validity of the debit and credits is the third entry. This removes the need to trust whether the credits and debits were correct in the first place. Were financial systems to be based on blockchain design, an Enron situation would not be able to occur. It might even prevent the likes of Madoff. This technology is only getting started. While there is hype, this hype is necessary for the market to test out many ideas and applications, until those that make sense remain standing.