Topic: Future of Blockchain? - page 19. (Read 3638 times)

Blockchain will develop and evolve over the next few years and transform into a technology used by many businesses and people

There are few threats for the blockchain.  Several good blockchain alternatives are created with amazing features and optimized for fast transactions. Better invest also with them.

Any industry which uses databases in the version the client-server has an opportunity to apply blockchain. Because blockchain is the following step of development of centralized databases and storages. The biggest lack of modern storage systems of records is need to monitor duplication and unauthorized change of records. And blockchain solves these problems without essential value addition of servicing and support of databases.

The future of finance could be dominated by blockchain technologies. A traceable global currency complete with an efficient infrastructure will not only result in massive cost reduction for all market participants, it will change global banking. Bitcoin will do for payments what email did for communication.

What is changing?
Blockchain will be adopted by central banks and cryptographically secured currencies will become widely used.
Nasdaq will launch blockchain-enabled digital ledger technology that will be used to expand and enhance the equity management capabilities offered by its Nasdaq Private Market platform.
The settlement of currency, equity and fixed income trades almost instantaneously through permissioned distributed ledgers creates a significant opportunity for banks to drive efficiency and potentially create new asset classes.

Control

New technologies such as blockchain have the potential to reduce cyber risks by offering identity authentication through a visible ledger.
There is no reason why requirements for numbering, maintaining and indexing records and communicating information provided in records could not be met through an electronic ledger system.
Car rental agencies could use smart contracts that automatically allow rentals when payment's received and insurance information is confirmed through a blockchain record.
A refrigerator equipped with sensors and connected to the Internet could use blockchain to manage automated interactions with the external world-anything from ordering and paying for food to arranging for its own software upgrades and tracking its warranty.
Small businesses could use blockchain to create trusted trading platforms among themselves.
Blockchain could potentially help bring robustness and transparency to the post-trade environment.
New technologies such as blockchain have the potential to reduce cyber risks by offering identity authentication through a visible ledger.
A bank could pay the supplier instantly over the Internet.
Blockchain technology will alter timing on risk.

Crime

A new blockchain startup has claimed its software could help track down criminals faster and cheaper than ever.
Connecticut are warning parents that a new Darknet cryptocurrency called Bitcoin could be to blame for helping underage drinkers to get buzzed.

Implications

Banks

Blockchain will be adopted by central banks and cryptographically secured currencies will become widely used.
Blockchain could replace central banks.
Real risks remain for banks that choose to get involved with cryptocurrency firms.
Blockchain technology could reduce the UBS's infrastructure costs in cross-border payments, securities trading and regulatory compliance by as much as $20 billion a year by 2022.
The number of applications within and outside the banks could be reduced as the Blockchain transaction contains all relevant information for the successful transfer of assets and/or related contracts.
Deutsche bank's economist sees blockchain as a threat because of the lack of the IT infrastructure to support the technology involved.
Ethereum is much more general purpose than bitcoin and could be useful for banks.
The future of finance in many nations could be dominated by Bitcoin and cryptocurrencies.
A private blockchain run by banks could end up as just "another cartel" and function as poorly as the payments consortium.
Banks could become the "custodians of cryptographic keys".
The blockchain could save lenders up to $20 billion annually in settlement.
Blockchain technology could be used to bypass today's centralised financial infrastructure entirely.

Industries

Time and education will need to play a role as other industries are just realizing one of the core innovations of the blockchain is its ability to reduce or eliminate trusted counterparties in the transaction process.
Blockchain has the potential to create new industry opportunities and disrupt existing technologies and processes.
Blockchain technology will make the world even smaller as it increases the speed and efficiency of transactional activity.

Governments

The future of finance in many nations could be dominated by Bitcoin and cryptocurrencies.
Blockchain technology could be used to distribute social welfare in developing nations.
Elections are currently an expensive and arduous. Thanks to blockchain tech they will soon be instantaneous.

Yes I agree with you that blockchain is bigger technology than bitcoin. Blockchain is not only use for bitcoin wallet, but for many other purposes, like transactions, exchanging, buying and selling and many more. Blockchain is a mechanism of storing data and bitcoin is a digital currency. I think there is nothing to compare. Bitcoin can be used only for payments and blockchain can be used for many purposes.

I am quite optimistic about Blockchain technology as it can be applied in almost any industry

It is wrong as I believe future is blockchain. If you completely understand the uses of blockchain you won't ask this question.You will also say that future is blockchain. Consider a bank it will take days to make a transaction complete.Blockchain is fast and easy to use.Not only this there are many other advantages of blockchain.

Blockchain technology is a very advanced technology. It has a fairly bright look on the future. In fact, it is not a very old technology. A technology similar to human DNA was realized digitally. Blockchain technology will be effective in areas such as transportation real estate in the future.

The blockchain is not just a variety of virtual currencies, but I think at least there will be a lot of work in the banking sector, such as dramatically reducing the speed of transfers and even the speed of cross-border transfers. As for other things, it might help with copyright issues, such as a blockchain that can record a paid music purchase record and not be faked.

Words are developing very fast due to this fast developing working methods of everything are going totally change. Just like that people was doing trade in past in other method which was difficult slow expensive and time consuming but now with block chain most trader are interested in it because its very fast and easy and profitable and less time consuming method.

Big companies do really set their eyes on blockchain technology since they do able to see the benefits and usage of it into their business which would really fasten up transactions compared on the traditional processing on things.Future of blockchain would really be bright and we can really expect that it would be considered and to be used on this upcoming future years.

Block chain technology is so very damn impressive that even governments and centralized institutions are now a big Fan of it. Microsoft and oracle have decided to use this technology in their day to day business, but still it is not official that from when they will be doing such. Great and massive things can be explored using this tech and it has far more way to go.

Blockchain is very new to the world, but it will grow since the internal transaction needed to so many businesses. Still most of the business people doesn't know about Blockchain. The transactions are more safer, convinient and the fee is small compared to other types.

I am hoping it is reaching to more people everyday and the future of Blockchain is Bright.

blockchain tech is the greatest tech for the money industry. I mean more and more banks and companies are starting to help the develop of the blockchain because let's be honest and admit , this can be our future payment.

blockchain has a lot of usage, not just used as a financial storage, India has acknowledged blockhain is an advanced technology to be used as a very fast internal transaction. I think blockchain will be more advanced and faster to be accepted in many countries around the world because it’s an advanced technology for the future

It is kinda more hype than hope

I think people heavily overestimate the capabilities of the blockchain. Indeed, it is perfectly justifiable in a trustless environment where no one trusts anyone else (e.g. as a basis for a decentralized currency). But if we talk about use cases like the things you mentioned (i.e. storing housing and land records, or anything to that tune), there are both efficient and effective solutions employing distributed databases which allow storing (as well as accessing) data over a network of loosely coupled nodes (like in Bitcoin) but without the unnecessary overhead that the blockchain requires

This is interesting question. The future technology of blockchain for all businesses /central banks will give them huge profit. it's all in the blockchain now. all identity and transactions will longer be safe with the blockchain technology. People will be more rich

It has literally nearly unlimited potential. Dubai is already planning on using it to store their housing and land records. It's currently being viewed as a way to securely store records at the same time making them easy to access. It's so versatile that someone is going to find new applications for sure.

Almost anything can be adapted to blockchain technology nowdays, you can see it on the different ICO campaings, which are being disscused even here on this forum. The bigger question is: will people trust these scummy (or sometimes even absurd) blockchains, which will overall effect on other solid platforms.

I think there is potential for 1 trilion $ in the market in the next few years.