I responded to a few comments in kind, and I’d say it’s impossible to answer in a vacuum without knowing the actual token use case/function.
Generically, we have seen instances where centralized ledgers/databases are manipulated and permit double spend. Even in the case of multi billion dollar publicly traded companies going Private, during due diligence we have seen upward of double the issued shares of stock than actually exist. In such a case we have the corporation with a centralized stock ledger, stock trusts with their own centralized ledgers, etc... but the mistake of double spend still happened. In those cases Blockchain would have never allowed those errors, one such case cost the buyer $150M personally post acquisition. Not to say that is in anyway applicable here, but without even knowing the token function we can’t say, but it just goes to show Blockchain does have some use cases and benefits where centralized ledgers have failed costing hundreds of millions.
Plenty of blockchains have allowed double spending as well due to errors in coding of either the clients, the blockchain implementation itself, or due to faulty contracts.
Well sure there has been shitty code that has allowed doublespend or unintended transfers...but the satoshi nakamoto Blockchain did solve the problem of double spend on a decentralized peer to peer network, do you disagree?
Take the current status of publicly traded companies, they require a lot of middlemen to manage these centralized stock ledgers, including, the corporate general counsel, underwriters/investment banks, stock trust, stock exchanges, and stock brokers/trading apps.
Each one of those middlemen takes a significant slice of the pie, whereas Blockchain would allow corporatations to bypass all these middlemen and allow stock to be issued and traded P2P.
Is there a reason you believe the existing centralized stock ledgers of public companies and system of middlemen is more advantageous than having P2P stock on a distributed ledger/network?
Generically, we have seen instances where centralized ledgers/databases are manipulated and permit double spend. Even in the case of multi billion dollar publicly traded companies going Private, during due diligence we have seen upward of double the issued shares of stock than actually exist. In such a case we have the corporation with a centralized stock ledger, stock trusts with their own centralized ledgers, etc... but the mistake of double spend still happened. In those cases Blockchain would have never allowed those errors, one such case cost the buyer $150M personally post acquisition. Not to say that is in anyway applicable here, but without even knowing the token function we can’t say, but it just goes to show Blockchain does have some use cases and benefits where centralized ledgers have failed costing hundreds of millions.