Blockchain will help Economy. - page 16.

Caladonian

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Quote from: Jessica2009 on June 11, 2018, 06:47:47 AM

The blockchain technology will actually help the economy since in blockchain technology the transactions are recorded from the manufacturer to the buyer .There is no chance for black money to flow since all the transactions are recorded in the blockchain . There is transparency in the transactions transparency is needed for an economic growth, the transaction is done fast since there are no third party influence so transaction fee is low compared to fiat currency since all transactions are recorded in blockchain no theft happens.

That's the good thing and if being implemented and reviewed by most government bodies, it's a good way building system for your business safe
and fast, blockchain is a good alternatives for those who can manage to advance level of transactions, the system is really effective in terms of
reliability, it's just needed to be well understood.

anhhung409

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Yes, I think blockchain helps a lot so the economy of the world a lot. Many ideas, many ecosystems are born to help improve our lives as well as our economy. Blockchain can replace companies, factories, businesses. It offers many ideas and solutions to improve the environment. In addition, it creates jobs for millions of unemployed people with stable jobs

Jessica2009

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The blockchain technology will actually help the economy since in blockchain technology the transactions are recorded from the manufacturer to the buyer .There is no chance for black money to flow since all the transactions are recorded in the blockchain . There is transparency in the transactions transparency is needed for an economic growth, the transaction is done fast since there are no third party influence so transaction fee is low compared to fiat currency since all transactions are recorded in blockchain no theft happens.

gambitcoin53

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as the nature of blockchain technology are digital, there are many other windows for development, it is a never ending work in progress, the transparency of its nature really defines its sophistication, given the freedom of anyone to view the whole chain of a certain transaction, it is efficient and fast in terms of result, but as all digital is prone to hacking no matter how secured, it is vulnerable to system corruption or glitches. but i am sure the blockchain system will always be upgraded.

senne

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Blockchain has provided people to enhance their security system, despite may companies being against Bitcoin they still believe that Blockchain can be taken into their daily usage. Many banks and companies have already started to implement Blockchain technology to provide a stronger foundation to the company and prevent any corruption in the system. This technology is no longer confined to crypto only and has expanded its branches in various sectors.

Twentyonepaylots

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Quote from: Direwolve735 on June 10, 2018, 02:22:35 AM

Blockchain technolohy will eliminate the need for centralized institutions such as the bank and government to simplify trade relations, turning the traditional financial and commercial model into something more interesting: a distributed, transparent, autonomous system for moving funds. Blockchain gives us the technological ability to create records of all human trading relations, currency exchange, all kinds of digital and physical assets in a completely new way.

The Blackchain system is a very good options to be adopted by the financial and business institution, yes, a digital recording system on its transaction, this could facilitate all transaction with advanced system on data safe keeping, or data recording. But with relation to the improvement of economy, i am not so sure if this would help out or contribute to the economy.

Xising

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Quote from: waqasniaz007 on June 09, 2018, 04:16:54 PM

Blockchain was imagined as an approach to guarantee the dependability of the digital currency Bitcoin. It is a genuinely basic idea, an advanced record that record all exchanges that happen inside its framework, much like any firm or individual monitors their funds. The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.
This has expansive ramifications crosswise over numerous businesses. Not exclusively will it cut expenses and enhance proficiency by evacuating outsiders, it additionally considers far more noteworthy adaptability by giving exchanges which are an unchangeable reality, which can encourage the sharing of accounts. For instance, blockchain can enable companions to share protection, or neighbors to have a similar vitality contract and guarantee that everybody pays for precisely what they utilize.

I think it does. The technology behind cryptocurrencies is a big market as it yields a fair amount of money through its transactions and trades. Therefore, if more people, say in one country or locale would venture in it and earn enough money, enough to keep an economy moving, then in time, it would not only affect local market, but also economies in general. However, since there are not that many cryptocurrency users, it's still far ahead before the market can do or effect such change.

waqasniaz007

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Quote from: mackenzied on June 10, 2018, 02:46:07 PM

Quote from: waqasniaz007 on June 09, 2018, 04:16:54 PM

Blockchain was imagined as an approach to guarantee the dependability of the digital currency Bitcoin. It is a genuinely basic idea, an advanced record that record all exchanges that happen inside its framework, much like any firm or individual monitors their funds. The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.
This has expansive ramifications crosswise over numerous businesses. Not exclusively will it cut expenses and enhance proficiency by evacuating outsiders, it additionally considers far more noteworthy adaptability by giving exchanges which are an unchangeable reality, which can encourage the sharing of accounts. For instance, blockchain can enable companions to share protection, or neighbors to have a similar vitality contract and guarantee that everybody pays for precisely what they utilize.

I will give you a merit on this matter. Blockchain and its benefits to life are undeniable. With blockchain technology, we can apply a series of problems in practice. But for now, the purpose of its application is not really true.

Thanks

mostkey

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Quote from: darkphoenix2610 on June 09, 2018, 07:56:36 PM

Quote from: mostkey on June 09, 2018, 05:19:35 PM

This is indeed a proof of the revolution of the rise of the digital age. While all individuals are starting to compete to develop eth-based token projects that are supported by the blockchain system to be one of success in this century

Yes bitcoin can help the economy of a certain country , it can improve everything, technology, lifestyle and even the lives of the individuals living that country.

and what becomes difficult is when we have to try to show the strength of crypto and blockchain bitcoin in helping the economic side of the country. so that this unbelieving country can participate in adopting btc

mackenzied

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Quote from: waqasniaz007 on June 09, 2018, 04:16:54 PM

Blockchain was imagined as an approach to guarantee the dependability of the digital currency Bitcoin. It is a genuinely basic idea, an advanced record that record all exchanges that happen inside its framework, much like any firm or individual monitors their funds. The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.
This has expansive ramifications crosswise over numerous businesses. Not exclusively will it cut expenses and enhance proficiency by evacuating outsiders, it additionally considers far more noteworthy adaptability by giving exchanges which are an unchangeable reality, which can encourage the sharing of accounts. For instance, blockchain can enable companions to share protection, or neighbors to have a similar vitality contract and guarantee that everybody pays for precisely what they utilize.

I will give you a merit on this matter. Blockchain and its benefits to life are undeniable. With blockchain technology, we can apply a series of problems in practice. But for now, the purpose of its application is not really true.

bowals

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I agree with this. It also has more widespread use. Because of its open access, it can prevent leaks due to corruption and likes since the ledger is available to everyone to trace. Therefore funds can be trace right from the source of generation to utilization.

Harlot

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Of course applying/integrating Blockchain technology to businesses and also the government system of a country will be good for the economy. It will tremendously improve efficiency on both ends as going through the process from manual to digital will help our development be on par with what we all are doing. Also the ability of being transparent is also there, having this kind of technology accessible to the public will help us avoid any kind of corruption, and of course we must always limit the information availability as some information are really sensitive and is vital for a country's national security.

Kertmu

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Quote from: waqasniaz007 on June 09, 2018, 04:16:54 PM

Blockchain was imagined as an approach to guarantee the dependability of the digital currency Bitcoin. It is a genuinely basic idea, an advanced record that record all exchanges that happen inside its framework, much like any firm or individual monitors their funds. The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.
This has expansive ramifications crosswise over numerous businesses. Not exclusively will it cut expenses and enhance proficiency by evacuating outsiders, it additionally considers far more noteworthy adaptability by giving exchanges which are an unchangeable reality, which can encourage the sharing of accounts. For instance, blockchain can enable companions to share protection, or neighbors to have a similar vitality contract and guarantee that everybody pays for precisely what they utilize.

Blockchain is a digital decentralized register that allows you to register transactions without intermediaries, such as banks.
It is possible to emphasize advantages: cost reduction and speed of calculation, decentralization and transparency.
All Blockchain data is widely available and complete, protected and secure.
But the main problem is that it takes a lot of time to implement the technologies on Blockchain, it can take several years, although the cost of technologies is estimated now. This is the risk, you can make a profit, and you can and losses.

JerryJam

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Blockchain can really have a positive impact on the economy of the state. All its advantages have already been said a lot. This is especially true of States with low levels of development. There is no opportunity to earn big money because industry is not developed and people survive at the expense of agriculture.Blockchain technology will enable such countries to develop economically and financially .This will attract the infusion of Finance into the country.

Barbut

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Quote from: BILGPS on June 10, 2018, 06:30:53 AM

Those who are looking to blockchain for a huge change in he economy i think they should think about the time span first because all things changed with time and it is true that blockchain is done a lot for the betterment of the economy and the economy condition could be more better if every country allow crypto currency and their business every where.

Its like that, its always about time period, it cant happen over night. That is where most investors fall or lose enthusiasm, they expect everything to happen very fast. Blockchain is here only for a short time, it will take time before blockchain get fully into economy, it will happen one day, its going in that direction, blockchain is taking part by part of it, and I think it will conquer all economy one day, it will change it from the roots.

BILGPS

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Those who are looking to blockchain for a huge change in he economy i think they should think about the time span first because all things changed with time and it is true that blockchain is done a lot for the betterment of the economy and the economy condition could be more better if every country allow crypto currency and their business every where.

Coffee135

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Quote from: umbara ardian on June 10, 2018, 05:09:05 AM

yes you are right blockchain will help the financial and economic conditions around the world, because blockchain able to record all existing transactions and everything is very trnasparan so very safe and comfortable if used for the world economy.

What do transactions have to do with the economy? Transactions are just a transfer of money. The main engine of the Economy is to obtain the added value of production. In this sense, cryptocurrencies have no impact on the economy. In many cases, crypto currencies compete with Fiat and inhibit the development of the economy.

Saiful Islam777

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Blockchain online technology is used as a medium of transaction. It was discovered in 2008 to use Bitcoin, but now Blockchain has started using other firms. This is a very good medium. It is possible to make money transactions in different parts of the world at a very short time by using blockchain transactions. I believe that Blockchain is helping economic development, so gradually all the institutions are using it.

verita1

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Quote from: Psynthax on June 09, 2018, 06:50:47 PM

Quote from: mrcash02 on June 09, 2018, 06:33:17 PM

Quote from: waqasniaz007 on June 09, 2018, 04:16:54 PM

The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.

Yes, it's very transparent and reliable. Several countries have their "transparency portals", where people access the records of their public administrations online. It's good and useful, but a system like Blockchain would bring much more reliability and transparency to the citizens.

I also like the idea because an adoption like that would cut worthless expenses on the public administrations. Less employees would be needed, so more money could be used for what really matters and isn't having enough budget at this time because there isn't enough money to sustain a heavy payroll and to attend the basic sectors of society at same time.

If the government apply blockchain for infrastructure development, I'm pretty sure that it will get rid of the corruption since it's transparent, as people have known for a long time that infrastructure development which takes up majority of the country's budget often being used as a tool for corruption but blockchain with its transparent open ledger will simply stop it, public will know where the funds are moving, so that there's basically no chance for people to go corupt, I must say that such thing will help improve country a lot!

Definitely! We are witnessing a new era, blockchain will help in all aspects of the economy and will contribute to technological advances in its implementation. Corruption has taken over many nations and has not allowed it to develop, it has left many deficiencies to its citizens. It's blockchain time!

rainezerr

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Quote from: waqasniaz007 on June 09, 2018, 04:16:54 PM

Blockchain was imagined as an approach to guarantee the dependability of the digital currency Bitcoin. It is a genuinely basic idea, an advanced record that record all exchanges that happen inside its framework, much like any firm or individual monitors their funds. The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.
This has expansive ramifications crosswise over numerous businesses. Not exclusively will it cut expenses and enhance proficiency by evacuating outsiders, it additionally considers far more noteworthy adaptability by giving exchanges which are an unchangeable reality, which can encourage the sharing of accounts. For instance, blockchain can enable companions to share protection, or neighbors to have a similar vitality contract and guarantee that everybody pays for precisely what they utilize.

In my own opinion, block chain will not help the community but it will help different miners to earn more cryptocurrency if they are going to improve the technology in the future.

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