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I currently work for a company that is accumulating large amounts of data pertaining to law enforcement and crime. One thing constantly on my mind regarding Integrity and Transparency is the initial Integrity and Transparency which will build the BC. The Blockchain, or anything else for that matter, will only be as integrious as the consciousness(programmer, individual, or group) creating the Blockchain. If not, it will be like creating a beast.
Because public blockchains are open-source, they would be vetted by many unbiased programmers. So if there is anything fishy in the code, it would probably get sniffed out early.
If the blockchain really has potential and has a lot of value-add, there could always be a hard-fork to separate the “beast” version from the “honest” version. Without any nodes supporting the “beast” version, it would become obsolete very quickly.
Greetings and I appreciate your response,
Your point about bias made me think of the inherent bias within any given social structure. How can the fishiness be detected if it is the norm within a society?
Maybe biases inherently exist in social structures, but how can these stakeholders act on a bias? In general, by exercising judgment or through manipulation. Code, however, is black-and-white.
By having unbiased/independent third parties vetting the code, it should be possible to identify where any fishy “favoritism” is embedded. There’s no judgment in computer code.
The issue where biases may impact a result is if there is an Oracle (person/group of people inputting information into the blockchain) or if it is a private blockchain with centralized governance.
Who writes the code?
Any company or individual programmer
@ivan talked about the importance of having a distributed consensus for company accounting/record-keeping, instead of centralized IT infrastructure. Which services currently exist that offer blockchain accounting, and which do you recommend?