Topic: Do we need blockchain technology? - page 5. (Read 13348 times)

If there are no other purposes as to why we still need Block chain technology, as long as there are still cryptocurrency and we are all still making use of it, then blockchian is still very important to us. Without blockchain technology there will be no other way for you to send and receive bitcoin and other crypto currencies you see.

That's just what I think tho’, don't know if I'm right. I have also seen people mention other things that are likely to be accomplished with the technology, if we decide to put them to use.

Well it is already being use in so many places and in so many ways, it is being use by so many companies to pay the monthly salary to the employs so many companies are using it for money transaction because we know blockchain provides fast and safe money transfer from one country to the others, some banks are also adopting it,

Number of industries adapted blockchain have increased drastically. Number of governments as well. The benefits and importance of blockchain technology is realized widespread amongst business market. Down the line in 5 years, blockchain will be one of the mandatory stuff to adapt in each industry.

Whether we need a blockchain technology or not will depend primarily on those areas in which we succeed in successfully implementing the technology and where it can bring maximum benefit. The more such spheres will be, the greater the role the blockchain will play.

Lol, this question is kinda funny tho'😂. Even if there are no other things that the blockchain technology are needed for , for the fact that you’re here today means that the technology is important to you, cause if it is not important to you, you wouldn’t be here today , same thing to others as well.

The blockchain technology is important for the cryptocurrency we are using today cause if there was no technology like this ,I don’t know if there would be a way for us make use of this new currency in the block.

all aspect we need blockchain technology for live be easy and fast. i thing internet on 2.0 is blockchain can implemented for all about inform of tech and knowledge. people must be prepare and learning about blockchain technology

Definitely, you are right. There's too many function blockchain technology on us that we must to adopt since we are now in a great innovation of adopting fin-tech and bitcoin is one of them that has a blockchain technology which is very useful on us. That's why you have said we must choose a good wallet when storing our crypto asset just to safe and our responsibility to manage private key which is very important.

Agree. Blockchain have offered a different way of storing and transacting asset. The technology give us the full control over our funds and the need for third trusted party have been eliminated. This makes thing more simple and better, there in no one to intervene with you personal asset. It give us the freedom from any interest of anyone. This is why everyone should choose a wallet that provides the full control over the private key like Hodler wallet which is the fully open source multiwallet available. They also have hardware version of it for better holding experience.

Blockchain can also be helpful in your business just like some people do say, but it is not needed in every business. So you need to have some thoughts about it before you proceed with making use of the technology in your business. As for now the main advantage of blockchain technology is that it provides speed in transactions and you also don't need a middleman, you get to avoid a lot of charges and pay less for everything. So you have to check if this is safe and beneficial for your business before you go for it.

Exactly, without blockchain technology there would be no bitcoin. Bitcoin is developed on the block chain technology but not many people knew it.

In future, i think bitcoin technology will be developed further.

of course we need a blockchain, even though many people abuse it
this is simple logic
knives are made for cooking, then there are few people using knives to kill
then don't we need a knife?

Actually, I can't really imagine crypto without blockchain technology, and I suppose it's one the most innovative things crypto brought to this market, so, it's up to you to make any kind of conclusions

Yes, Blockchain is a vast technology and it should be used everywhere. You can see the benefits of bitcoins over fiat currency. Similarly if we use block chain in other fields of life, it can really give some amazing results.

Blockchain technology doesn't only implied nor focused with Bitcoin alone.If we do try to look at on how blockchain tech do give out benefits into many industries
then I can say it is really a beneficial one or simply a revolutionary thing that this era has to offer. It would ease out transactions with more faster and more
transparent.

What business ? Digital signature and digital contracts were existing before blockchain technology. Today`s big corporations can deal with each other without blockchain and smart contracts. There are too much talkings about importance of blockchain technology, but world is not ready to adopt technology today.

Yes I think so, for fastest transactions. Blockchain can solve a lot of problems that exists now. I think it can be use too on banking transactions in future. Blockchain is advanced Technology that has many features and benefits for everyone. At the same time can be used on various types of business espcially ecommerce business.

  Blockchain is really the best technology which is being use all over the world now, it is so easy to carry so many bitcoin in blockchain, we can use it any time  as shops and markets are accepting it, it gives us safe transaction from country to country, blockchain technology is spreading now all over the world to be best wallet.

Absolutely agree with you guy. We do need blockchain, it's such an advanced technology which is really helpful to the development of econmic field as well as other ones. Honestly blockchain makes a big contribution on the growth of all places in the world. The most important characteristic of bitcoin is "it brings trust to peer to peer networks". It goes without saying that cryptocurrency actually needs blockchain. Bitcoin almost can't exist without blockchain.

Interesting that this is something that will definitely change economy. Blockchain is something that is god given to us to use all it value. From where to start then. How about some things that blockchain brings: greater transparency, enhanced security, increased efficiency and speed,reduced costs. And on this structural difference in comparing to database.

Greater transparency - Transaction histories are becoming more transparent through the use of blockchain. It is also available to all participants who have permissioned access.
Enhanced security - There are several ways blockchain is more secure than other record-keeping systems. Transactions must be agreed upon before they are recorded. After a transaction is approved, it is encrypted and linked to the previous transaction.
Increased efficiency and speed - When you use traditional, paper-heavy processes, trading anything is a time-consuming process that is prone to human error and often requires third-party mediation. By streamlining and automating these processes with blockchain, transactions can be completed faster and more efficiently.
Reduced costs - My favorite, reducing costs. No middle man no nothing just send and receive, you just have to trust the data on the blockchain.

On database issue this is also good. Blockchain itself is a database in the form of digital ledger. It combines the Internet and cryptography to cater information registration and distribution, thus, eliminating the need for a trusted party such as a bank in case of monetary transactions. Records are arranged in ‘blocks’ of data and each block is connected to the previous one by a hashing function. It forms a chain of blocks that cannot be changed. This means no administrator to be paid for this. Will it be used in business database integration, possibly. Example on this, if you want to do something within your network with your data and with computers that you control then databases are more suitable and off course opposite, if you need a setup where the data is highly available but you are not the only one paying for it, would not need to modify past data, need it to be immutable, and publicly accessible then blockchain is a better choice.

So what is better. Blockchain time is coming and it will be used all over the word it wont be just transaction it will be used as database storage also

Well we don't necessarily "need" It like we require blockchain to survive but it'll definitely be a big boost towards the future. Blockchain can be applied anywhere not just in making transactions. It's one of the innovations that'll likely play a part in our lives a couple of years from now.