Yeah, I think that’s less of a problem that we are solving right now. Obviously, when you’re looking at things like validating UTXOs, you have to make sure that transaction history hasn’t been tampered with, and things like that. There are so many cool things that you can do with a blockchain230;
[00:12:04.08] If you look at something like the Bitcoin blockchain, which is this public distributed ledger where everyone has a grade on the history of it, you can do crazy things like prove that you have copyright — or, I shouldn’t say “prove that you have copyright”, because that’s probably technically-legally something, but prove that you had a piece of IP at a certain time.
If I wanted to prove that I wrote a paper, I can hash that paper and stick that in the metadata of a Bitcoin transaction and then put that on the Bitcoin blockchain. And if anyone’s like, “Oh, did you actually have this paper at this time?”, I could just point them to that transaction and give them the hash function and give them my original paper, and be like “Hey, validate this for yourself.
And because in Chain’s case we’re not talking about public networks, we’re talking about private networks, you lose that ability. But there’s other benefits to having a private network.