Context: If you follow startup trends you probably heard fintech sector is getting more excited by the day with blockchain, altho not necessarily Bitcoin itself.
They highlight, among others:<p>- possibility of smart contracts - fully transparent databases - peer to peer network - trust(less) service layer between - efficiency savings<p>Mostly created the list from this podcast: https:&#x2F;&#x2F;soundcloud.com&#x2F;a16z&#x2F;business-blockchain - a really good episode btw.<p>The question: is the fintech ignoring the most important factor, which is the ever increasing competing mining computer power applied to BTC network being the reason it&#x27;s so safe only because mining is rewarding. If at any point an ill intentioned player controls over 50% of computer power would the whole system would crumble? Doesn&#x27;t that make it unpractical for any startup to implement a network they can actually make safe?
Ask HN: Is the fintech Blockchain excitement deeply flawed?