Can blockchain change financial industry?

Denreal

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Quote from: Tonygold1967 on April 16, 2018, 08:21:25 AM

Blockchain is new technology which change a lot of things in the world. In nearest future a lot of things will be based on it.

Here is an article: https://icoguide.com/en/blog/blockchain-in-the-real-world-industries-it-can-revolutionize-and-change-everything

Author claims, that blockchain will be able to change financial industry. What do you think? Do you agree?

There are lots of features peculiar to blockchain, that can make or that makes it a good tool to change the financial industry. This has been happening for quitters some time now and this is why some countries will begin to adopt cryptocurrency for their benefits.
Little do i even wonder when i discovered that the central bank in my country was also considering it.

legenduim

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Yes blockchain can change the financial industry. The blockchain is capable of allowing financial institutions to establish direct links among themselves, avoiding correspondent operations through banks.
In emerging economies, the blockchain has the potential to help governments achieve political goals by jumping over intermediate technology levels.

JeffBrad12

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Quote from: TentallyMooN on November 12, 2018, 09:25:36 AM

Quote from: confreslamp on November 12, 2018, 08:15:13 AM

Blockchain is already doing it and in the nearest future, we will see even more products, that will revolutionise the financing industry. Just wait a little bit more and in 2020 we will see huge changes in the financial sector.

Do you think this will happen so soon? It would certainly be nice, but still I think it will take a little more time.

Some experts said that the blockchain development will need the more time compared to the dotcom bubble. AFAIK that it needs a lot of deeply research to dig the potential of blockchain itself. Many companies have been doing D & R to the blockchain. Some countries have used it for commodity transaction just like china and SG.

chokomenia

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Yeah sure blockchain will definitely do a whole lot in the financial industry, accounting needs transparency which will make everyone to be trust on the industry and blockchain have come to solve it, so I believe blockchain will do a lot on this industry in the coming years.

GhostWithin

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I dont think that in the near future the financial industry will be changed due to the advent of the blockchain. The current financial system will not accept decentralization, and if it's removed, in fact blockchain will become a regular database. Therefore, the financial system looks towards such projects as ripple

tridverju

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Blockchain is changing the financial industry and is bringing us to the true peer-to-peer model without any third party. I would be glad to see some big companies integrating crypto or creating their own blockchain for financial transactions.

PurpleTulle

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I think blockchain is already doing that. The financial industry is taking steps it didn't dream of doing before blockchain. Also for payments, a new project Modernchain is changing the way we've always known it. Different currencies will be accepted on their platform with practically no chargebacks.

letyouearn

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It can for sure. And not only financial industry - it will change the way we are living, whole our lives. There is an opinion that crypto and blockchain technology will affect our lives much more drastically than PC or even Internet did several years ago. I believe this will happen in 5-7 years maximum. The revolution has begun!

TentallyMooN

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Quote from: confreslamp on November 12, 2018, 08:15:13 AM

Blockchain is already doing it and in the nearest future, we will see even more products, that will revolutionise the financing industry. Just wait a little bit more and in 2020 we will see huge changes in the financial sector.

Do you think this will happen so soon? It would certainly be nice, but still I think it will take a little more time.

TentallyMooN

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Quite possible. I think that the blockchain is really a great technology, and it can, if not completely, then at least partially make changes to the financial system.

confreslamp

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Blockchain is already doing it and in the nearest future, we will see even more products, that will revolutionise the financing industry. Just wait a little bit more and in 2020 we will see huge changes in the financial sector.

Cemploon

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Yes, blockchain technology is indeed very supportive of being a financial industry and already has a very good system. However, this industry has weaknesses such as security. Hacking often happens and many people lose coins because of fraud. And this is what I think is everyone's consideration.

niublity

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This phenomenon is already happening. The cryptocurrency is essentially a currency. The success of money must have the factors of circulation, trading, and application. Now we have seen that cryptocurrency is growing.

LickKing

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This can be quickly foreseen. Perhaps some national governments are already using it, but they will not be announced as people. Blockchain, Bitcoin is a derivative of finance. They will be the first to subvert.

Bonwin

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Quote from: Tonygold1967 on April 16, 2018, 08:21:25 AM

Blockchain is new technology which change a lot of things in the world. In nearest future a lot of things will be based on it.

Here is an article: https://icoguide.com/en/blog/blockchain-in-the-real-world-industries-it-can-revolutionize-and-change-everything

Author claims, that blockchain will be able to change financial industry. What do you think? Do you agree?

This is very much true, because blockchain is an advanced technology with lots of attributes that make it qualify for that. There wasa time that the central bank in my country was also considering using it.

TastyChillySauce00

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Quote from: active706 on November 10, 2018, 04:42:57 PM

Yes, blockhain it`s our future. It`s a very perspective technology which provide to us safety, fast and clear data and money transactions. Blockchain it`s a revolutionary technology in world industry.

While I don't quite agree with the speed since it's clear that the centralized ones have the advantage in term of speed when it comes to a transaction settlement but in term of transparency, efficiency and safety the decentralized nature of blockchain will have advantage on its own. The safety is when no one have a real control over your money except yourself.

AnnaGeraMsk

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I think that it is already being rebuilt, since it was built for hundreds of years, this business is not fast in the range of us, but the instantaneous existence of money

Semosuchi Tesongrato

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Rasputin Party Mansion

The blockchain will change many things, and paradoxically this happens more on the political level than on the financial one: if there really exists something that is REALLY out of the control of the governments, the revolution will be truly epochal.

Marainoli

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Justice as a Service Infrastructure

The blockchain can understand all financial industry of any country. Now the blockchain develops but we will see changes soon.

Hengemeran

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Quote from: Tonygold1967 on April 16, 2018, 08:21:25 AM

Blockchain is new technology which change a lot of things in the world. In nearest future a lot of things will be based on it.

Here is an article: https://icoguide.com/en/blog/blockchain-in-the-real-world-industries-it-can-revolutionize-and-change-everything

Author claims, that blockchain will be able to change financial industry. What do you think? Do you agree?

Of course blockchain is the future, and I think many people like the technology , I think it is in demand for ordinary people

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