Are Blockchain Projects in Northeast Asia can change the economy? - page 2.

Oceat

sr. member

Activity: 2506

Merit: 368

Quote from: tansaneehongkao on July 23, 2019, 08:57:00 AM

Its depend on the country, if blockchain technology will be adopted here in Thailand, i doubt if it will grow our economy since the corruption in this country is endemic

Any underdevelop country are prone to corruption and yes you are right blockchain project might not help to grow your country's economy since the government itself needs to fix first. But with the help of cryptocurrency, people might start to change their economy unless of course, they have to stop supporting corruption in their own country.

Anyway, if your government didn't ban any cryptocurrency in your country then you still have a chance to make a change it but it does require a lot of people power to change your whole country.

vintages

full member

Activity: 966

Merit: 153

Quote from: microsurfer on July 23, 2019, 09:33:25 AM

i dont think that any new blockchain proejct can really change economyo f the country

Postive mindset is everything. It's one step at a time.
Even if the blockchain projects OP listed didn't make impact immediately, it might in the long run.
It may serve as the exposure that is needed to bridge the gap of unawareness.

Many are unaware of blockchain and its importance and hopefully other businesses can emulate them too. Will the use of blockchain in that state be welcomed should be the major concern here.

bitgolden

legendary

Activity: 2926

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: slaman29 on July 22, 2019, 02:55:13 AM

Quote from: CryptoBry on July 21, 2019, 10:40:51 PM

The global economy is now transitioning into the world of digital and these projects you are mentioning here are pioneering on this aspect. The impact of these projects for the economy of the countries where they are based can be felt in years to come and with this trend going stronger we should be expecting more and more players in this field. Just in the Industrial Revolution, we are now in the true Digital Revolution with the blockchain technology and cryptocurrency changing the face of many industries. The influence of new technologies and protocols will be changing the very fabric of the economy and even the society in general.

I wouldn't say we're in the true digital revolution until the whole world is able to benefit from this digital access. True, now mobile phone technology is almost in reach for everyone, but the poorest people still do not have education. what's the use of access to internet for example if you can't even read?

This is the step everyone has forgotten about, to make things equal first.

I was watching a discovery on the satellite dish one of these days and you could see how many people that we have in an isolated places where they have no access to good roads, good water, technology, network and even schools and I wonder if these same people are in the same world I am, you know it is easy for everyone to judge based on their current status and think the world has so much advanced that lack of education will affect the growth of digital technology, but these number of people are quite much, and if the whole world goes digital, how would those people cope or able to buy and sell, so we are still quite far beyond achieving such dream, and it will take lots and lots of decades before this can be achieved.

barbara44

hero member

Activity: 2450

Merit: 605

Quote from: mu_enrico on July 20, 2019, 10:01:15 AM

Quote from: bitgolden on July 19, 2019, 08:44:41 AM

blockchain has the ability to eliminate barriers that has made some factors that should affect economy daunted. First thing I know blockchain technology does is to cut cost, it is cheaper to run system using blockchain than the normal traditional method

I don't buy it mate, give me an example of how blockchain technology enables businesses to cut costs? A simple SQL database would cost a lot cheaper than blockchain.

Will a simple sql database operate what blockchain is able to operate, would a simple sql database eliminate third party involvement in transactions? Dig deeper into what the characteristics of blockchain technology is, you would realize that it has 100 percent more functions more than an sql database. Blockchain might be expensive at the development stage, but what of in the long run, the fee we pay for blockchain transaction can still not be compared to what we pay in the traditional banks.

Moreover, If I am to run a project worth 1.5 million dollars, and because of the involvement of thirds party, it increased it to 2 million dollars, has blockchain that is designed to eliminate third party not assisted in saving me $500,000, even if I have to pay 5 percent fee on it which I even know that blockchain fee can never be up to that.

daarul50

legendary

Activity: 1596

Merit: 1034

In general, blockchain technology is felt to have a very positive impact, but we have not found the development of this technology directly proportional to the growth of the local economy. This happened because of a lack of knowledge of citizens about the use of this technology so that now more developers are holding various discussions about new technologies about this economy before they can all apply this blockchain technology.

cosmofly

full member

Activity: 532

Merit: 100

PrimeDAO - An Adoption Engine for Open Finance

Yes, Asians are really having really great projects and they are working together to create a big push and will start developing and expanding the blockchain service to the world.
Content Protocol takes time to develop, Koreans will soon make it a big business.
I really like blockchain projects in Asia, they really do very well and keep their promises.

microsurfer

member

Activity: 175

Merit: 11

i dont think that any new blockchain proejct can really change economyo f the country

tansaneehongkao

newbie

Activity: 16

Merit: 0

Its depend on the country, if blockchain technology will be adopted here in Thailand, i doubt if it will grow our economy since the corruption in this country is endemic

bitcoinposts

member

Activity: 448

Merit: 10

Most of the projects coming in North East Asia Like Korea are changing the crypto currency economy all together .ICON is the best example for best blockchain development coin

FanEagle

legendary

Activity: 2884

Merit: 1117

Leading Crypto Sports Betting & Casino Platform

Can it change the economy in a macro sense? I doubt so but it could totally change a few peoples lives that is for sure. If you are interested in these projects and find kindred spirits that are also interested than you can create your own sort of barter system whereas many people will still not use it.

However, that doesn't mean its limited, the number of users could grow constantly as long as the project managers and owners keep working on it. That is literally why bitcoin is so loved and number one at all times, even though there are ups and downs in user numbers the general audience of bitcoin always grows, more and more people know about bitcoin and more people start to use it as well. Hence if those things keep growing it can have affect on many people.

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

Quote from: CryptoBry on July 21, 2019, 10:40:51 PM

Quote from: pana72 on July 15, 2019, 01:01:33 AM

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

The global economy is now transitioning into the world of digital and these projects you are mentioning here are pioneering on this aspect. The impact of these projects for the economy of the countries where they are based can be felt in years to come and with this trend going stronger we should be expecting more and more players in this field. Just in the Industrial Revolution, we are now in the true Digital Revolution with the blockchain technology and cryptocurrency changing the face of many industries. The influence of new technologies and protocols will be changing the very fabric of the economy and even the society in general.

I wouldn't say we're in the true digital revolution until the whole world is able to benefit from this digital access. True, now mobile phone technology is almost in reach for everyone, but the poorest people still do not have education. what's the use of access to internet for example if you can't even read?

This is the step everyone has forgotten about, to make things equal first.

CryptoBry

sr. member

Activity: 1008

Merit: 355

Quote from: pana72 on July 15, 2019, 01:01:33 AM

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

The global economy is now transitioning into the world of digital and these projects you are mentioning here are pioneering on this aspect. The impact of these projects for the economy of the countries where they are based can be felt in years to come and with this trend going stronger we should be expecting more and more players in this field. Just in the Industrial Revolution, we are now in the true Digital Revolution with the blockchain technology and cryptocurrency changing the face of many industries. The influence of new technologies and protocols will be changing the very fabric of the economy and even the society in general.

rafi035

sr. member

Activity: 854

Merit: 250

Now, in the modern era, in my own country, I have developed more about blockchain technology because many industrial zones are in need of technology like this, and like this it can be used in the near future.

Baofeng

legendary

Activity: 2576

Merit: 1655

Quote from: pana72 on July 15, 2019, 01:01:33 AM

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

Of course if those countries will take advantage of those projects then definitely it can affect their local economy. However, Japan and South Korea are already progressive countries so I don't know if it can put a dent of their economy. We would like to see those kind of projects in Asia wherein the country is on the development phase so that we can really gauge if it can really drastically affect their economic standing.

davis196

hero member

Activity: 3094

Merit: 929

Quote from: pana72 on July 15, 2019, 01:01:33 AM

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

No,these projects can't change the economy now,because the crypto space is still too small and we are at the very beginning of the crypto revolution.Maybe after several years,if those projects survive and prove that their sustainability,they will gain enough customers in order to change the Asian economy.

TheCoinGrabber

sr. member

Activity: 994

Merit: 302

I think these blockchain projects in East Asia would be more about services. What I find interesting is they might make social media and sharing apps for these blockchain. Any of these could spawn the first blockchain version of Instagram, Facebook or Youtube that might actually gain widespread acceptance.

Especially Klaytn. Kakao already have a large userbase in Korea so whatever decentralized social media that might come out of Klaytn could also have a large potential number of users, which might help it being used elsewhere (no one would want to join an sm that don't have enough users).

Naida_BR

member

Activity: 980

Merit: 62

Quote from: pana72 on July 15, 2019, 01:01:33 AM

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

Asia has a lot of countries that have strong manufacturing industry and many companies are active there.
They need new technologies that improve their automated operations, thus blockchain technology can change their economy completely. This is the reason why they spend so many resources in blockchain research.

mu_enrico

copper member

Activity: 2324

Merit: 2142

Slots Enthusiast & Expert

Quote from: bitgolden on July 19, 2019, 08:44:41 AM

blockchain has the ability to eliminate barriers that has made some factors that should affect economy daunted. First thing I know blockchain technology does is to cut cost, it is cheaper to run system using blockchain than the normal traditional method

I don't buy it mate, give me an example of how blockchain technology enables businesses to cut costs? A simple SQL database would cost a lot cheaper than blockchain.

Quote from: bitgolden on July 19, 2019, 08:44:41 AM

don’t forget that blockchain will surely create more job, and we have some countries that would specialize in this area for other countries to higher their citizen as expatriate, which means more money to that country’s economy.

That's correct if the jobs created aren't directly related to the blockchain itself, but because of the increased productivity. For instance, the demand for blockchain programmer may increases while, at the same time, the demand for relational database programmer decreases.

In short, I'm more skeptical about this so-called "blockchain technology" than about Bitcoin and need more proof/use case since we are just at the beginning of this new technology.

Mometaskers

hero member

Activity: 1764

Merit: 584

Still too far to see how this will affect the economy since it might differ from Bitcoin's blockchain but I don't see any negatives so far. Kakao is a very popular brand so I think Koreans might warm up to it faster.

It's interesting how varied the projects in Klaytn would be. Read there's a food marketplace and video snippet service (hopefully the beginnings of new competitors for Youtube).

Xardasim

sr. member

Activity: 1624

Merit: 250

I guess Korea and Japan are in positive opinion about crypto. Considering how the economies of these countries have developed in recent years, we could see them as two of the few countries that are smart. I believe that if they use crypto in the economy by adding some of their own skills, they will get good results.

Topic: Are Blockchain Projects in Northeast Asia can change the economy? - page 2. (Read 5082 times)