Cryptocurrency and blockchain adoption

imstillthebest

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Quote from: tetyulfania on September 19, 2019, 10:16:29 PM

Government around the world could adoption of blockchain and cryptocurrency for all their transaction, right now many country using USD as payment for export and import their needed and have higher to pay fee.

if they will use usd as a medium for paying on imported stocks then what do you think will be the purpose of thier own local currency ? only for display ? no no no , they dont hodl and use usd for buying goods abroad but they can still be able to pay using thier local currency or they can just use thier cc and other payment methods which automatically convert thier currency into usd and other international curreny but they can be able to save up if they will use cryptos . its possible , i heard many governments already adopt crypto and as well as blockchain technology . others are still pending and awaiting for approval

tetyulfania

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Government around the world could adoption of blockchain and cryptocurrency for all their transaction, right now many country using USD as payment for export and import their needed and have higher to pay fee.

jamesndungu1

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Quote from: fiulpro on September 14, 2019, 11:28:54 AM

You could add .

National cryptocurrencies being formed in China and India , as the government have already submitted the draft for it and therefore two counties with major population could serve as a major pool for cryptocurrencies adoption even though they might hate bitcoins .

Its also evident that Currently, the crypto market is of interest to the majority of people globally mainly due to the idea of the freedom that it comes with. People are interested in the fact that they get to have complete independence while trading and investing in crypto. The idea of immense returns is also a huge boost to the market. Generally, I feel like cryptocurrency is doing well at this time Roll Eyes

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Lanatsa

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Quote from: Pamadar on September 18, 2019, 10:29:11 AM

Quote from: Theb on September 17, 2019, 01:09:48 PM

Yeah sure we can see the physical things that may look like it is starting to shape out the crypto industry globally but if you really want to see that crypto mass adoption will happen really soon is the legality of the crypto industry itself. Its the framework that really matters here and without any kind of clear regulation in any country it wouldn't be a green light for other establishments to follow what others have been doing now. So if we really want to see a big change then we must observe the government and what decisions they will make for their crypto industry not just some establishments making a move from it. I know that some would say that it's already happening because of this acceptance by a few businesses but its really not enough to set up the pace we are looking for.

Mentioning those businesses who already starting to adopt this system can also be the triggered point for the government to start realizing the value of this industry. If they will give enough attentions and begin to sit and work if how they will maximize the possible advantages that this system can bring to the financial institutions and make a good ruling to stand for this industry.

With full backup from the government, adoptions will be much easier and can go smooth sailing.

Yeah if things turns out to be positive but come to think that there would always be a criticism or second thoughts into these institutions.
We cant force out them to fully adopt yet we know on how government do treat nor forseen crypto currency in regards with legalization.
It doesn't fit out on most criteria on any angle that they are preferring into that's why even its hard to accept on that kind of full adoption topic
is somewhat a near-impossible thing to happen but at least we are seeing some light yet there are already companies and merchants do consider
on applying or integrating crypto into their platforms or business and that one is already a good sign that there might be some chances.

gantez

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Quote from: TheCoinGrabber on September 12, 2019, 09:38:51 AM

Maybe it'll look like what they have in China where almost anything can be paid for using apps but instead of fiat, we'll be using crypto instead.

It is not only happening in China but many countries now because fiat usage has been made to be transacted digital. This is what will even make the process of crypto adoption faster.

nur rochid

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Quote from: Periodik on September 15, 2019, 02:39:57 AM

We all love it when we hear news regarding blockchain adoption in the world. Especially if it involves billionaire companies such as Samsung. But blockchain adoption does not automatically mean Bitcoin adoption. Blockchain adoption is much easier to happen than Bitcoin adoption. But I would surely prefer Bitcoin adoption by these elite companies rather than simply blockchain adoption. Sometimes blockchain is appreciated but not Bitcoin.

indeed basically the blockchain and bitcoin are different. blockchain can stand without bitcoin, while bitcoin cannot stand without using blockchain. and currently the blockchain has begun to be used in companies, to ease their work. I also think the adoption of blockchain will run first than the adoption of bitcoin

Pamadar

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Quote from: Theb on September 17, 2019, 01:09:48 PM

Yeah sure we can see the physical things that may look like it is starting to shape out the crypto industry globally but if you really want to see that crypto mass adoption will happen really soon is the legality of the crypto industry itself. Its the framework that really matters here and without any kind of clear regulation in any country it wouldn't be a green light for other establishments to follow what others have been doing now. So if we really want to see a big change then we must observe the government and what decisions they will make for their crypto industry not just some establishments making a move from it. I know that some would say that it's already happening because of this acceptance by a few businesses but its really not enough to set up the pace we are looking for.

Mentioning those businesses who already starting to adopt this system can also be the triggered point for the government to start realizing the value of this industry. If they will give enough attentions and begin to sit and work if how they will maximize the possible advantages that this system can bring to the financial institutions and make a good ruling to stand for this industry.

With full backup from the government, adoptions will be much easier and can go smooth sailing.

sana54210

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Quote from: Jating on September 17, 2019, 03:29:14 AM

Although there is a lot of positive news specially about blockchain adoption, it doesn't mean that it will result to some big movement in the price. Companies are still experimenting about this technology and what it can bring to them. Those are private firms so I doubt that they are going to accept or even invest on crypto.

What we really need to see is some big retail companies started to accept bitcoin as means of payment. This could really boost the adoption and it could really set a precedence to even mid level merchants to try and offer crypto payment options because otherwise they will be left out.

The second paragraph of your statement is exactly why cryptocurrency was actually established, and I think we are just the ones that misconstrued the whole technology and then made it a System for just investing and earning profit like it is hyip scheme, and until we get out of that mentality before cryptocurrency can even grow.

Speaking of blockchain, when people hear blockchain, what they picture is cryptocurrency, and they think of block china can grow, it will make the value of cryptocurrency rise which it may actually not, because blockchain technology generally is something that is way beyond cryptocurrency which even the government can apply to make their government easy and smooth in every industry that they apply it.

Theb

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Yeah sure we can see the physical things that may look like it is starting to shape out the crypto industry globally but if you really want to see that crypto mass adoption will happen really soon is the legality of the crypto industry itself. Its the framework that really matters here and without any kind of clear regulation in any country it wouldn't be a green light for other establishments to follow what others have been doing now. So if we really want to see a big change then we must observe the government and what decisions they will make for their crypto industry not just some establishments making a move from it. I know that some would say that it's already happening because of this acceptance by a few businesses but its really not enough to set up the pace we are looking for.

davinchi

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Retail is not really the way to go, online is the real deal. Online shops should adopt bitcoin before the retail ones, retail would still take a lot of times but when you buy something from an online shop it already takes days to arrive usually and if not at least hours and bitcoin is faster than that so it can work very well for them.

Simply, we may summarize like blockchain adoption is more important in financial world and crypto adoption is more important in sales.

Blockchain could help financial places like banks and insurance companies to keep track of their data a lot faster and easier for a lot cheaper, so they will definitely move towards blockchain eventually, it make take a lot of years but it will surely happen. However shops using dollars are doing fine, I am not entirely sure if bitcoin will be adopted there as easily.

Jating

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Although there is a lot of positive news specially about blockchain adoption, it doesn't mean that it will result to some big movement in the price. Companies are still experimenting about this technology and what it can bring to them. Those are private firms so I doubt that they are going to accept or even invest on crypto.

What we really need to see is some big retail companies started to accept bitcoin as means of payment. This could really boost the adoption and it could really set a precedence to even mid level merchants to try and offer crypto payment options because otherwise they will be left out.

beerlover

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All of this is really not as big of a deal as Ohio starting to accept crypto for crypto taxes for example. Bitcoin is not really a mass adoption deal until the mainstream media makes it out to be, if there is no news channels airing bitcoin on their prime time then there won't be too many people coming in. They are all valuable and they are all awesome and shows how gradually we will become more of a standard but it won't happen over night and we need stuff like this all the time. Not just for this once but like all week every week.

Big companies going into bitcoin really makes a difference but without continuing their support we can't have a big difference, look at amazon and steam for example, they accepted bitcoin for a while and that would have increased the adoption for sure but then they stopped, we need them to pick it up and not stop, not just them, any of the big companies.

Periodik

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We all love it when we hear news regarding blockchain adoption in the world. Especially if it involves billionaire companies such as Samsung. But blockchain adoption does not automatically mean Bitcoin adoption. Blockchain adoption is much easier to happen than Bitcoin adoption. But I would surely prefer Bitcoin adoption by these elite companies rather than simply blockchain adoption. Sometimes blockchain is appreciated but not Bitcoin.

befriendmywater

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Currently, major payment service firms such as Paypal are also supporting coin trading.
We can see the crypto market is expanding very quickly and I estimate that in the next 5 years, the whole world will start using blockchain technology.
So this is still a good opportunity for us to buy and hold good alts.

BITDV

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This is great news for blockchain industry. But in my opinion blockchain adoption will not give big impact to cryptocurrency price, it give big impact for blockchain technology. For example, goverment can implement blockchain technology for their own purpose but not provide cryptocurrency to use in their internal or public use.

Personally, with major adoption is proof that crypto rely on blockchain and many institution adopt blockchain so many people think cryptocurrency stand on strong background which adopted by many institution

fiulpro

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You could add .

National cryptocurrencies being formed in China and India , as the government have already submitted the draft for it and therefore two counties with major population could serve as a major pool for cryptocurrencies adoption even though they might hate bitcoins .

jostorres

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Quote from: Reid on September 13, 2019, 05:39:32 PM

Wow. I didnt even noticed that.
Samsung eh?
I guess they will have a problem with the government itself rather than other things.

Look at facebook taking a lot of hard punches into making Libra a success.
One thing which is my problem by now. Why not just use bitcoin. Of course all of this coins created by legitimate companies will be decentralizes right?

This is the mistake that many of them do make, because it is really pointless to me to create a coin that people will not use because the purpose of creating these utility coins is not just for the purpose of buying and keeping it, but for the purpose of using it and I found out that till d a ate, the two coins that people use the most for most transactions are bitcoin and Ethereum.

Most people that are even recognizing coins right now are recognizing bitcoin the more, so I see no reason why they should not use bitcoin and have to create their own coin. I think the developer are not even helping the situation of cryptocurrency because they do create this coin for asset purpose only and which is why many people are just turning the system to an asset scheme.

Reid

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Wow. I didnt even noticed that.
Samsung eh?
I guess they will have a problem with the government itself rather than other things.

Look at facebook taking a lot of hard punches into making Libra a success.
One thing which is my problem by now. Why not just use bitcoin. Of course all of this coins created by legitimate companies will be decentralizes right?

jhongzjhong

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Quote from: Ryker1 on September 13, 2019, 11:22:26 AM

Quote from: ufaiz50 on September 12, 2019, 05:57:51 PM

Blockchain is indeed predicted as a technology of the future, given the benefits and convenience offered in this system. This development will progress gradually because there are still some people who are not familiar with current technology. Considering the adoption of several companies I think it will slowly be accepted by the government if they benefit from this technology.

Well, in my own opinion due to many people are now earning big in crypto now it catches attention to the government and also to wealthy people to invest more or to participate in crypto to earn more as well. Because some the companies are just know how potential to adopt crypto and the blockchain technology behind on this crypto. Indeed, this is the fact that from time to time the exposure of crypto will expand more.

I think it is a very good advantage of cryptocurrencies and the blockchain. It is a proof that cryptocurrency and blockchain will be very popular day by day and it is a big step for them to be able to welcome by the government so that the government will adopt crypto and blockchain as well. Lucky for those countries who adopt blockchain and I think those who are banning they will might regret near in the future.

Ryker1

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Quote from: ufaiz50 on September 12, 2019, 05:57:51 PM

Blockchain is indeed predicted as a technology of the future, given the benefits and convenience offered in this system. This development will progress gradually because there are still some people who are not familiar with current technology. Considering the adoption of several companies I think it will slowly be accepted by the government if they benefit from this technology.

Well, in my own opinion due to many people are now earning big in crypto now it catches attention to the government and also to wealthy people to invest more or to participate in crypto to earn more as well. Because some the companies are just know how potential to adopt crypto and the blockchain technology behind on this crypto. Indeed, this is the fact that from time to time the exposure of crypto will expand more.

ufaiz50

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Blockchain is indeed predicted as a technology of the future, given the benefits and convenience offered in this system. This development will progress gradually because there are still some people who are not familiar with current technology. Considering the adoption of several companies I think it will slowly be accepted by the government if they benefit from this technology.

Oilacris

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Quote from: sana54210 on September 11, 2019, 03:29:14 AM

The tension surrounding the use of cryptocurrency is already calming down and I can see that the government has seen the good side of cryptocurrency better than it negative side and I think it is now that adoption will really start.

It is like every day that we open the media now to read about bitcoin, I keep coming across the news of very great companies that are beginning to engage themselves in the use of cryptocurrency and these listed ones are even small compare to the ones I have read. Investors would now begin to see that this stage is the stage where we sow down ahead of future, and we really have to be patient for bitcoin if we really want to be among the group that will thank their God for being part of cryptocurrency community.

Calming down?I don't think so because anytime there would be new issues that would pop out in related to it and these kind of scenario would keep coming back since we are still on the early adoption stage.

Good thing that we are seeing gradual improvements into those industries that do try to embrace blockchain tech but this doesn't mean that cryptocurrency market will be mainly affected when it comes to price because centralized system will create their own integrating this new tech.

TheCoinGrabber

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I'm most interested with how the project by KAKAO and LINE would work. Almost everyone now have a smartphone and I myself check my wallet on it. If they can manage to integrate cryptocurrency use in their applications then that would be a big help in adoption.

Maybe it'll look like what they have in China where almost anything can be paid for using apps but instead of fiat, we'll be using crypto instead.

dothebeats

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It's good that we are seeing multiple events happening on the positive side of bitcoin and not just some other news that always go unnoticed, or news that always involve illegal aspects of the said cryptocurrency. It may not be bitcoin directly but it's good to know that they are recognizing the strengths of cryptocurrencies when it comes to some real-world applications. Perhaps in a year or two, we will be seeing a lot more of these adoptions coming into life, and not just contained within a small space in the society but in a larger scale.

shield132

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There is no doubt crypto and blockchain edoption is really going on and on, that's good and I want to tell you OP that there are even better news.
1. Now it's possible in Ohio, USA to pay taxes in Bitcoin.
2. Australian Tax Office allows you to claim for lost private keys (still doubt why and how they're gonna do that, but mostly why?).
3. Brazil started birth registry by using Blockchain Technologies.
4. Georgia makes land title registry by using Blockchain Technologies.
5. As far as I remember Mastercard patented something related to blockchain technologies.
So yeah, adoption is massive but on first steps, it's more likely blockchain under attention.

ethereumhunter

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The adoption process is on the way, and we can see there is much news in out there that saying many people start to know cryptocurrency. Many of them are trying to learn how the blockchain process and what is cryptocurrency. We will see that the new era will come and the old era will replace by the new era which full of digital technology that will fill our life.

And yes, that will affect the big company in real life and they still learning more about cryptocurrency, especially about blockchain. But the process itself needs time before it can reach all people in the world, so we will see the traditional will transform into digital technology.

Rahman11

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It’s a very good advantage of cryptocurrencies, it’s proof that cryptocurrency will become popular in day by day! I think it’s help more spreading of cryptocurrency in near future!

Duzter

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Those are really a good attempt from large scale firms in adopting blockchain technology as well use of bitcoin. In case of Japan it isn't a big thing, because it has been making everything into bitcoin and providing legal support. Among those mentioned HSBC and all could've never thought of such a marvelous technology making their work more effective and adopting the same. Same is with Marshal Islands, the step taken is big. Following this we can expect more small countries to adopt and accept technology based growth.

kannikaamudee

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blockchain adoption is closer to reality today

el kaka22

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PWC is a big news actually, I mean those dudes are so big that almost all accounting in the world goes through them.

You may think that your small shop is not using PWC but actually you will be using a bank for your shop and that banks accounting is proven to be true by one of those 4 big horsemen of accounting one of which is PWC so that means even your small shop has some sort of ties with PWC at the very least. Then going into bitcoin would mean that they will be taking care of some sort of accounting of bitcoin accounts as well for their customers and that would make the worlds difference, they could find every single paper of legality that includes crypto and will make the road map and then regular people follow that without putting in the work themselves.

oxgroth

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This news are good, for sure. But we need more merchants, first of all. And there are lack of them especially outside of USA

tonyvo2017

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This is quite normal, because a technology with extreme intelligence and processing millions of transactions very smoothly will soon be utilized by people.
In the future, you will see developed countries like the United States, China, the United Kingdom, France, ... start applying blockchain technology to make things faster and more convenient. I always support this technology!

lobat999

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These are very relevant news to the blockchain industry which only further supports the notion that this technology would produce disruptions across many industries and these adopters knew that they will have an edge over competitors once they put it to use productively! I guess cryptocurrency and blockchain mass adoption will have hard times but we will get there eventually.

hatshepsut93

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So a few companies are experimenting with blockchain, how is this "BIG"? We've been hearing that blockchain adoption is almost here for years already, but actually interest in blockchain is going down already. On Google trends it's only 14% from its ATH that happened during the last Bitcoin ATH (which is not a coincidence), less companies are talking about blockchain, developers are highly skeptical of it (check the stackoverflow report). It's just news sites like Cointelegraph and Coinidol trying to reignite the hype of 2017, and newbies who gladly believe in anything that in their mind is "good news".

yesyes18

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I also believe likewise. The mass adoption is gradually happening just that we haven't come to the full realization of it. What we are seeing niw is to help clear the space of the many FUDs and distrust the mainstream had about crypto. Once that is gotten over, they'd troop in kije never before whenever a new hype comes again.

virasisog

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Truly cryptocurrency and blockchain adoption is rising that is why i like supporting projects that pushes major adoption of this technology
Apollo Currency is one of them and i am glad i included this coin in my portfolio. It seems that they are contributing a lot and building partnership to several countries.
You can read all the details here: https://medium.com/@apollocurrency/national-currency-initiative-seeking-merchant-adoption-28960df306bd

sana54210

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The tension surrounding the use of cryptocurrency is already calming down and I can see that the government has seen the good side of cryptocurrency better than it negative side and I think it is now that adoption will really start.

It is like every day that we open the media now to read about bitcoin, I keep coming across the news of very great companies that are beginning to engage themselves in the use of cryptocurrency and these listed ones are even small compare to the ones I have read. Investors would now begin to see that this stage is the stage where we sow down ahead of future, and we really have to be patient for bitcoin if we really want to be among the group that will thank their God for being part of cryptocurrency community.

avikz

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It pleases me that starting to introduce blockchain in various industries, but unfortunately few countries accept it, as this can hit corrupt officials very much, as transactions will become transparent and any Internet user will be able to see what his taxes have gone. It is much easier to tell them that cryptocurrency is a bubble and the blockchain is not efficient in the same elections.
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The situation is slowly changing though! There are many countries who are still very suspicious about cryptos and its associated risks! From silk route to billion dollars exchange heists - all are seen as negatives by the majority of the governments!

But when more and more big corporates are showing interest in cryptos, the situation will definitely change for better! The governments will be forced to rethink their position because the industrial lobby will want to adopt cryptos.

It will take time because of its involvement with economy and potential disruptive power. But things are slowly changing for better! Yes, extremely corrupted governments from South Asian countries will probably stay away from it, but that's a small portion of the world economy! So doesn't really matter!

pishite

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Quote from: maxreish on September 09, 2019, 01:16:58 AM

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Mass adoption is really around the corner, some of high rank people, governments and other institutions are now participating in cryptocurrency which has a positive impact in the crypto world.

But here are some of the BIG five major developments in the recent days;

* PwC Luxembourg to start accepting Bitcoin payments- this company is an Accounting firm that provides industry focused insurance and taxes now accepting bitcoin payments.

* Japanese regulator grants cryptocurrency exchange license to LINE subsidiary- Financial Services Agency, awarded a cryptocurrency exchange license to LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant LINE.

* HSBC uses blockchain platform to issue letter of credit - HSBC bank finally had yuan credit transacrtion blockchain software (R3's Corda-powered Voltron platform)

* National cryptocurrency in the Marshall Islands- David Paul (Minister In-Assistance to the President and Environment in Marshall Island)- described their forthcoming national digital currency which is Marshallese sovereigb(SOV)

* Reports of a cryptocurrency-enabled Samsung phone- Samsung Galaxy note 10 was already released with it's cryptocurrency wallet features.

Read more here.

It pleases me that starting to introduce blockchain in various industries, but unfortunately few countries accept it, as this can hit corrupt officials very much, as transactions will become transparent and any Internet user will be able to see what his taxes have gone. It is much easier to tell them that cryptocurrency is a bubble and the blockchain is not efficient in the same elections.

maxreish

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Mass adoption is really around the corner, some of high rank people, governments and other institutions are now participating in cryptocurrency which has a positive impact in the crypto world.

But here are some of the BIG five major developments in the recent days;

* PwC Luxembourg to start accepting Bitcoin payments- this company is an Accounting firm that provides industry focused insurance and taxes now accepting bitcoin payments.

* Japanese regulator grants cryptocurrency exchange license to LINE subsidiary- Financial Services Agency, awarded a cryptocurrency exchange license to LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant LINE.

* HSBC uses blockchain platform to issue letter of credit - HSBC bank finally had yuan credit transacrtion blockchain software (R3's Corda-powered Voltron platform)

* National cryptocurrency in the Marshall Islands- David Paul (Minister In-Assistance to the President and Environment in Marshall Island)- described their forthcoming national digital currency which is Marshallese sovereigb(SOV)

* Reports of a cryptocurrency-enabled Samsung phone- Samsung Galaxy note 10 was already released with it's cryptocurrency wallet features.

Read more here.

Topic: Cryptocurrency and blockchain adoption (Read 461 times)