/biz/ - Business & Finance

Not sure what to call this, so lets just go with "decentralized services"

A decentralized service is characterized by a network of independent nodes that provide some sort of service, all powered by a trustless economic system

You could potentially do this with a centralized economic system, but that would introduce a single point of failure and a strong need for confidence in that particular part of the system. You would also need to act through a large payment processor, with their sometimes whimsical implementation of ToS

Depending on design, the decentralized service itself can have many benefits:
1: Lowered/distributed startup costs
2: Redundancy
3: Enable trustless interaction between users

An example of how to achieve trustless interaction is what OriginTrail does: When someone uploads a dataset to their "decentralized knowledge graph", a hash signature of that data is printed to a blockchain. This makes the data tamper-proof, allowing people to share things like certificates, audit data, product origins etc in a system much more powerful than the blockchain itself.

There's also more straight-forward hosting and storage services like FLUX and Opacity

Render Network lets people rent eachothers GPU power for rendering.

Morpheus Network is another supply-chain focused project, meant to act as middleware between big corporate systems (like SAP), but they just started beta-testing their Node network, whereas OriginTrail has been up and running for a while

Would love to hear about more of these

Quarterly reminder to /biz/ that this shit exists and will solve a lot of problems with current supply chains

https://www.youtube.com/watch?v=zhd7fyuYmGk

Tokenized assests? Like train spare parts and authenticy certs for medical supplies?