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this post was submitted on 29 Aug 2023
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Technology
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I don't see how blockchain (in this case) adds any value over a federation like Matrix.
I doubt these bozos know of federation. Hell they forgot about the existence of p2p based comms like jami.
It adds value by helping convince clueless investors to give you money. I'm entirely serious. There's a significant number of investors that think blockchain technology is a good thing. Doesn't matter that it's a terrible solution to practically every problem. The goal isn't to be a good solution. The goal is to make money. They only need to convince a few clueless people to give them that.
This system is federated.
The blockchain means that you can access your encrypted messages even if your server goes down.
you and everyone can access those encrypted messages. You are the only one that can decrypt them, sure, but as others have already mentioned, the history of encrypted messages is almost as bad as the actual content.
Not everyone can access the encrypted messages. Only nodes with channel members can access them.
And everything is encrypted apart from the timestamp, so without decryption you can't really learn much.
It could very well mean they didn't want to think of all possible use-cases, so they gave blockchain the benefit of the doubt.