I have read everything available about blockchains and I still didn't understand why a company should need one.

I don't know if the problem is me or them

Here ya go. This is all block chain is

@MrJimmy Overhyped and overglorified ? True,
Replication of no significant difference? Absolutely False.

In the tradeoff between trust on intermediary to behave honestly vs a trustless system the distributed ledger plays significantly well. I could give you many examples where it would be useful.

@MrJimmy you're absolutely right, In many sectors it's completely unnecessary to use this technology and being a sceptic always helps the a deeper insight into the tech.

Perhaps the most common example where the distributed ledger is necessary is the current financial system. All your money and the record is maintained by the banks with no control what so ever to question their behaviour like why do they have control over our transactions and charge high fee to keep track of the record of money which in turns creates income for them by lending out at high interest rate. Not acting responsibly to maintain a minimum balance in their ATM machines and a constant disregard for the customer satisfaction.

Any situation where your data is sensitive enough and could create income for a dishonest party is a favourable case where distributed ledger can be useful.

@MrJimmy if you're considering the situation atm, you're right to some extent. There are better options than the proof of work that is responsible for the massive energy consumption, like proof of stake or proof of activity or proof of burn etc etc. However many of these have certain drawbacks or are under development which are applied phase wise to not break the system altogether.

For the speed issue some of the above method help it, alongside shrading is being implemented which is THE best solution atm for scaling issue.

And all nodes in a network don't necessary keep the complete record, rather just 3 Merkel root of state, transaction and receipts. Only the full node who participate in the verification process keep the complete record.

@MrJimmy I see you are thinking at bitCoin! Not all blockchain are so much energy consuming
talking about space... sooner or later we will buy a terabyte of memory for the price of a little usb, will space still be a problem?

@MrJimmy I would love to explain it, but i would require diagrams and stuff. However Preethi Kasireddy wrote an article explaining everything in a near laymen terms https://medium.com/@preethikasiredd... .

Look for **World State** in the article for your answer.

I suggest you reading this post. It clarified my ideas about the blockchain technology.

https://dev.to/kbk0125/...

I think it’s irresponsible for anyone involved in technology or business to not educate themselves on the basic technical principles and business applications of Blockchain tech. Nobody can say how the pieces will fall — but there are certainly pieces up in the air right now.