How Do Blockchains Interact with the Real World?
"It's blockchain... but applied to supply chains... but the coins are backed by real world assets... but you're awarded the tokens by betting on prediction markets..." Ever since I started hanging out with blockchain enthusiasts I've been hearing these kinds of claims. But I've been curious about how these applications are actually supposed to work. This page is where I'm writing up what I learn about this.
The way I'll format this post is:
- I'll take some mainstream blockchain application.
- I'll find out the answers to the following questions and write them here.
- What are some examples of people doing this?
- How does it claim interact with the real world?
- What does the blockchain store?
- How can it go wrong?
- What would this look like if you built it without a blockchain?
- How does building it with blockchain make it better?