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Topic: Are Blockchain Projects in Northeast Asia can change the economy? - page 3. (Read 5103 times)

legendary
Activity: 2996
Merit: 1132
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Well, it depends whether these projects can increase productivity (i.e., the ability to produce goods and services) or not. With this in mind, I'm pessimistic about these projects actually because I don't see it can affect productivity that much.

Do you know what can change the economy? A new coffee variety, which can boost your mood and energy for at least 8 hours.
Good economy gives birth to financial stability of the country, and 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, also 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.

Aside the employment it would create for country’s adopting blockchain technology, it will also help them have some transparency in their dealing with project consultants. Another thing blockchain means for countries that adopt it is more money for them when they trade with it.
copper member
Activity: 2324
Merit: 2142
Slots Enthusiast & Expert
Well, it depends whether these projects can increase productivity (i.e., the ability to produce goods and services) or not. With this in mind, I'm pessimistic about these projects actually because I don't see it can affect productivity that much.

Do you know what can change the economy? A new coffee variety, which can boost your mood and energy for at least 8 hours.
hero member
Activity: 2352
Merit: 905
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Can't say that blockchain technologies can change the economy, there is no doubt it can't be bad but also can't see any significant influence on it. Btw blockchain technologies are great opportunity to create more jobs in countries, as I see everyday demand on blockchain developers increase while it's sad but there aren't enough candidates to fill that jobs. However it's adoption is very beneficial, maybe massive adoption in services where blockchain technologies can really have huge influence on whole process, can really affect economy significantly.
legendary
Activity: 3542
Merit: 1352
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The South Korean and Japanese scenes for cryptocurrencies and crypto startups have been increasing at a rapid pace, most especially Japan which has its guidelines honed over time and may have made a positive impact on new projects and launches in the said region. In SoKor, on the other hand, there had been a lot of talks from different sectors, mainly focusing on IEOs/ICOs and the application of blockchain tech on some aspects of the industry. Economically speaking, this creates more investors, jobs and an overall positive impact on the said country's domestic economy. This is what happens when the government is supportive of new changes but still maintaining the regularity of the said space.
member
Activity: 120
Merit: 38
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.
Technically, those projects can contribute to their local economies but not really in the way they're suppose to be. For example, big MNCs such as Samsung or Sony can use Icon's blockchain to store data to track their products' authentication or control the logistics procedures... It's not the kind of current contribution (job creation) that they're doing. If blockchains is just fundraising then buying/selling tokens then it doesn't add up any value to the society.
legendary
Activity: 3080
Merit: 1500
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.

If transparency can change the mood of an economy towards positive direction, then yes, blockchain can change the economy for better! However, it's too early to say anything at this moment! Blockchain needs more time to make a solid impact which can be used an an example! Till date, we have none which had made a mass impact! It's still at the launchpad getting ready to unleash a massive change!
sr. member
Activity: 1540
Merit: 420
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I believe they can make direct or indirect impacts in the economy, I’m not aware to some of their products that much but most of these projects do the work without publicity. Some of them made partnerships with bigger companies that creates more jobs and opportunities for the masses. They’re blockchain healthy countries so development and economic growth is inevitable.
full member
Activity: 700
Merit: 101
The growth of blockchain technology is very well underway here, I also feel a good impact on the economy, but I do not map it well for finance and the global economy, I say it has a good effect on what I experience and feel.
legendary
Activity: 2702
Merit: 4002
There are a lot of discussions, meetings, and events[1] taking place in South Korea or Japan, so blockchain's long-term influence will be positive for those countries.
I am not talking about the economic aspects, but creating more jobs, leading projects, hosting more projects and capital flows, which may be reflected positively on the local market.

Not to mention that all this will stimulate the local sector to flourish because of more knowledge about these countries.
[1] http://koreablockchainexpo.com/
newbie
Activity: 13
Merit: 0
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.
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