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What does everyone think of the Hbar and Algorand link
up?
14 ответов
DeRec is important for mass adoption, Leemons invention will bring more eyes on Hbar
There are a tiny percentage of people using DLT today. One of the reasons for that is the difficulty most normal people have using and managing Web3 applications. And the market being divided across multiple projects does not help as they use different terminology and different technology, exacerbating the problem. By establishing widely used standardised approaches (another good example from finance would be IS020022) you increase the size of the pie overall. There are times when co-opertition benefits all parties and achieving good standards is a typical one. This move makes perfect sense for all parties.
DeRec is important for mass adoption, Leemons inve...
I'm afraid of hackers 😱
DeRec is important for mass adoption, Leemons inve...
So let me get this straight - do you give access to your keys to people of your choosing? What would stop them from emptying the account?
So let me get this straight - do you give access t...
My understanding is that you can give partial access to a number of people. Let’s say 10 people/entities each have 1/10 of your keys. They do not necessarily even know who the other 9 are so the risk of collusion can be avoided. I originally thought that smart contracts would be in play here, but perhaps the rules can be programmed into something like an HTS token. I believe BankSocial are already busy at work implementing a DeRec solution, where I suspect participating credit unions could hold your keys, so it will be interesting to see the nuts and bolts behind that solution once it is implemented.
My understanding is that you can give partial acce...
Does sound interesting. I definitely wouldn't give any access to any government person or bank. Good backup option in case you lose your key. It actually makes real world sense.
Does sound interesting. I definitely wouldn't give...
Well, I certainly wouldn’t give my keys to a single bank either. However, would I give a part of my keys to say Swirlds Labs, IBM, and my sister combined? Probably YES😁
So let me get this straight - do you give access t...
I doubt the keys would be really accessible by your chosen 10 anyway. They'd have to break the encryption
I doubt the keys would be really accessible by you...
Exactly. They wouldn’t be able to do anything with the information they have on a stand alone basis. What we still need to understand is “how” the information can get reconstructed into your key, solely at your request and not anyone else’s.
Exactly. They wouldn’t be able to do anything with...
Maybe they wouldn't be able to get the key but is it possible for them to get a hold of the names of the other people who you have chosen?
Exactly. They wouldn’t be able to do anything with...
Probably will have to KYC if you want to use DeRec
Probably will have to KYC if you want to use DeRec
That would solely depend on the project. Derec is open to anyone to implement I think
That would solely depend on the project. Derec is ...
That’s what I understood from Leemon’s interview too. However, due to AML laws, I’m guessing that you’d need to do KYC if you want one of your trusted parties to be a bank or other financial institution.
So let me get this straight - do you give access t...
Each of your 'helpers' has part of the key or whatever it is that you want securely stored - and since it's encrypted data, they won't be able to actually read it.
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