Hacker News Reader

It uses a distributed public ledger, not bitcoin.

It does use bitcoin to verify the transactions. Point is, bitcoin - currently being the biggest blockchain deployed - is more trustworthy than most governments and therefore most currencies.

I am not an economist though and regulations seem to be necessary in the real world. Any ideas as to what technology, giving widespread adoption, would make them obsolete?

If the claim is that the private data unrelated to bitcoin transactions is being published and verified on a bitcoin blockchain then this is a scam.

It is absolutely amazing that the person who wrote this article still has a title of a Senior Editor that claims to write on this topic.

It is possible to hash the data and make that hash part of the transaction [0].

[0] https://arxiv.org/abs/1502.04015

That's not the application, however.

Reply on news.ycombinator.com