Topic: Block Chain Technology Usefulness?!!! (Read 939 times)
I just saw the blockchain technology used by the banks and financial corporation, however this technology could be applied like people said above, blockchain is really make the traditional system of the bank is change, increase the efficency, cuts out 3rd party or workers cost, and of course make the transacation more faster, untill now i didn't see the blockchain has inplemented in other sector except banks.
Decentralized and peer to peer technology
Blockchain network or infrastructure is secure by itself with sha256 encryption tech behind it. So i think blockchain tech can be used in all of the works where security is main concern like in data storage and financial systems/transaction.
"Blockchain" is just one element.
it does not need to be secure by sha256. it can be secured by any algo and still have features to chain blocks together.
it doesnt even need to rely on a second layer of security by having a second hash of specific difficulty(mining vs signing (POW/POS))
it doesnt even need to rely on distributed copies.
so when corporations remove the 10+ layers of security bitcoin has (keypairs, distribution, mining, etc, etc) just to use 1 layer of security. (the chain) its not as secure as bitcoin.
and businesses have different needs. EG how many employees have access to update a specific element of data(keypairs). how fast it needs to update(mining or signing), which all make blockchain a great utility but without the extra layers of security that bitcoin has as standard, should not be treated as secure as bitcoin
but with that said there are MANY, MANY uses corporations can find that can secure their data better and save them on maintenance costs..aswell as open new opportunities to do new things that they never considered before.
Blockchain network or infrastructure is secure by itself with sha256 encryption tech behind it. So i think blockchain tech can be used in all of the works where security is main concern like in data storage and financial systems/transaction.
i can see the use for blockchain is maybe to send sensitive information like maybe Dr records and lawyers papers.. i think this can be done if you maybe could attach a file to the transaction..
i could be wrong and just talking and if i am correct me ...
i could be wrong and just talking and if i am correct me ...
sensitive data such as doctors records not on a public blockchain, would have to be private and only accessible by medical establishments
also think about all the data bloat of 7 million people having the flu. or getting a tooth filled
blockchains work by being distributed. so this alone is duplicating the data into every doctors office and hospital..
and also weak because every doctor and dentist has the ability to add/change records
somehow i cant see it being feasible for medical records.
however situations that can be useful, because blockchains are about storing data long term and permanently in multiple locations of access
noting doctors specialities and access level, insurance
log education results of students
recording new laws and court cases
social security/public funding
passport
births and deaths
i can even envision one blockchain being the identifier for all of the above
which could then lead onto other uses like a sidechain where the data can be used in many creative ways
That's true never thought of that but I do feel the blockchain is a awesome technology and I am hoping alot more places start using it then banks...
Blockchain seams to be one the more secure things in the technology hacker filled would that anyway to store/send sensitive documents the better and I truly feel blockchain can do this.
The technology blockchain is extremely useful and several companies have realized this.
The Accenture is investing in this technology -> http://www.criptomoedasfacil.com/2016/09/accenture-cria-ferramenta-de-edicao-de-blockchain.html
The Accenture is investing in this technology -> http://www.criptomoedasfacil.com/2016/09/accenture-cria-ferramenta-de-edicao-de-blockchain.html
Who say blockchain is useless? Chinese banks and wangxiang group like blockchain technology very much, they have noticed them, also similar in other countries, banks like blockchain start-ups like ripple, xem, eth.
Wow so many suggestions and ideas I can't begin to decide which ones to adopt and think about developing them. 
Though at first I thought block chain and bitcoin are like "time and space" as they are two things but can't have any meaning if you separate them or one without the other can not exist.
But when you think about it block chain actually can be used for things other than currencies(alt/sh** coins ), only matter of time for people to come up with ideas like replacing the governments all over the globe and use it to have consensus for minor and major decisions of nations. 
Though at first I thought block chain and bitcoin are like "time and space" as they are two things but can't have any meaning if you separate them or one without the other can not exist.
But when you think about it block chain actually can be used for things other than currencies(alt/sh** coins
), only matter of time for people to come up with ideas like replacing the governments all over the globe and use it to have consensus for minor and major decisions of nations. There are several startups with ideas around blockchain.
Distributed databases is nothing new and the question is how much of that really deserves the name blockchain. I's mostly buzzwording to create some hype and pull money out of big pockets.
Sure blockchains will have other use cases, but the really big disruption will mostly happen with open ones, with free access and the possibility for open innovation.
How much of those kinds of blockchains do you think are we going to see, built by the big giant incumbent companies of certain industries?? Not that much I would guess!
I think that very soon we will see a variation of blockchain very often.
It does not have to be the open version.
Compared to the centralized server system the companies run at the moment, a blockchain brings much more security.
It's not gonna be easy for hackers to create a hidden virus that attacks all computers which run a specific blockchain at the same time.
It does not have to be the open version.
Compared to the centralized server system the companies run at the moment, a blockchain brings much more security.
It's not gonna be easy for hackers to create a hidden virus that attacks all computers which run a specific blockchain at the same time.
Well blockchain technology improve and transform to many useful ways ,many business sectors which are now attracted to blockchain technology at first its fast transactions ,reliable and untrackable identity informations of its users .
Big banks now are researching and adopting blockchain technology as they sees a very big potential with it .
Even automated elections they transform it and add interactive blockchain technology for its secure privacy .it is also use to hide some file recordings.
Blockchain now was almost use by big companies especially improving of banks transactions.
Big banks now are researching and adopting blockchain technology as they sees a very big potential with it .
Even automated elections they transform it and add interactive blockchain technology for its secure privacy .it is also use to hide some file recordings.
Blockchain now was almost use by big companies especially improving of banks transactions.
We can see more in the future with a lot of parties is wanna for using a blockchain becoming their basic system.
https://www.cryptocoinsnews.com/blockchain-technology-can-benefit-many-industries-beyond-finance/
https://www.cryptocoinsnews.com/blockchain-technology-can-benefit-many-industries-beyond-finance/
i can see the use for blockchain is maybe to send sensitive information like maybe Dr records and lawyers papers.. i think this can be done if you maybe could attach a file to the transaction..
i could be wrong and just talking and if i am correct me ...
i could be wrong and just talking and if i am correct me ...
sensitive data such as doctors records not on a public blockchain, would have to be private and only accessible by medical establishments
also think about all the data bloat of 7 million people having the flu. or getting a tooth filled
blockchains work by being distributed. so this alone is duplicating the data into every doctors office and hospital..
and also weak because every doctor and dentist has the ability to add/change records
somehow i cant see it being feasible for medical records.
however situations that can be useful, because blockchains are about storing data long term and permanently in multiple locations of access
noting doctors specialities and access level, insurance
log education results of students
recording new laws and court cases
social security/public funding
passport
births and deaths
i can even envision one blockchain being the identifier for all of the above
which could then lead onto other uses like a sidechain where the data can be used in many creative ways
i can see the use for blockchain is maybe to send sensitive information like maybe Dr records and lawyers papers.. i think this can be done if you maybe could attach a file to the transaction..
i could be wrong and just talking and if i am correct me ...
i could be wrong and just talking and if i am correct me ...
The Blockchain technology would be very useful to industries where the recording and reading of unaltered data is crucial. For example the banking sector, the healthcare sector and basically any government agency will benefit from this tech which will allow them to monitor tamper-proof data. I think the utility of the Blockchain technology is immense and there are many use cases for it beyond Bitcoin.
There is a tough competitor for the purposes you mention
Quantum tamper-proof devices pull it off much better (no 51% attack), and they do it without all the fuss about setting up a decentralized environment (which is still prone to spoofing). It is impossible to determine a completely unknown quantum state without destroying most of the information that it contains, which essentially means that it is not possible to clone (read) such a state. In this way, it is very easy to detect tampering with the data whenever it happens
We will see some interesting applications in the future, like smart contracts and also voting done on the Blockchain and also the storing of
property deeds ..etc..etc.. Bitcoin {currency token} are only one of the tokens being used at the moment, and it's the most popular. The
banks are trying to copy cat the Blockchain too, to improve their old outdated ledgers.
property deeds ..etc..etc.. Bitcoin {currency token} are only one of the tokens being used at the moment, and it's the most popular. The
banks are trying to copy cat the Blockchain too, to improve their old outdated ledgers.
It's one of those things that's going to produce new industries and things that we haven't even begun to think up yet.
The most common possibilities right now are contracts, though I think the Ethereum balls up has shone some harsh light on to that idea, any type of information verification and retention such as property ownership etc, there's lots of talk of voting, self pwning and operating cars, and on and on.
As is often stated, money is just the first application that'll allow many other things to flourish. This is stuff is barely getting warmed up.
The most common possibilities right now are contracts, though I think the Ethereum balls up has shone some harsh light on to that idea, any type of information verification and retention such as property ownership etc, there's lots of talk of voting, self pwning and operating cars, and on and on.
As is often stated, money is just the first application that'll allow many other things to flourish. This is stuff is barely getting warmed up.
The Blockchain technology would be very useful to industries where the recording and reading of unaltered data is crucial. For example the banking sector, the healthcare sector and basically any government agency will benefit from this tech which will allow them to monitor tamper-proof data. I think the utility of the Blockchain technology is immense and there are many use cases for it beyond Bitcoin.
It's unlikely that any other duplicate blockchain would be as secure though, it certainly wouldn't be decentralized if ass hole banks etc create their own blockchain.
The Blockchain technology would be very useful to industries where the recording and reading of unaltered data is crucial. For example the banking sector, the healthcare sector and basically any government agency will benefit from this tech which will allow them to monitor tamper-proof data. I think the utility of the Blockchain technology is immense and there are many use cases for it beyond Bitcoin.
Block chain technology was first used as the platform for bitcoin?
Are we going to see it being used only by crypto currencies and nothing else?
Could you mention the different areas which in we could use this technology and benefit from it?
We are likely going to see the blockchain technology being used for a ton of other things, however we won't know for sure whether or not there are actually going to be things developed out of it. A lot of whether or not that'll happen comes down to how eager the banks are to start using the blockchain and how many other groups throughout the world are equally interested. That will determine the success of the blockchain technology in "normal" life. Are we going to see it being used only by crypto currencies and nothing else?
Could you mention the different areas which in we could use this technology and benefit from it?
I think it could be really usefull in product identification, tracking and trace ability of food products and things like that.
Jump to: