Government to own identity on blockchain in future ? - page 3.

hugeblack

legendary

Activity: 2506

Merit: 3645

Buy/Sell crypto at BestChange

Quote from: opendata on July 22, 2018, 03:08:44 AM

How can they reverse/ delete a transaction? There is no such thing as editable blockchain! Basic 101

It 's possible and can happen in Bitcoin; you need to have access to the longest series/chain "The longest chain is always reliable/trusted So the blocks from all the mines could not work against you."
So a 51% attack can reverse a transaction.
If the government issues its currency, all the nodes under its control & will always have trust under its control.

Read more:

Need an explanation over 51% attack.
How strong is Bitcoin against 51% attack!

Quote from: giacatluong on July 22, 2018, 05:32:33 AM

If government agree to open a blockchain, it would be a new beginning for Bitcoin step up to new height and growth. With government intervention, we secure more about transactions and avoid risk from hackers.

I do not think the government's use of cryptos will end the danger of hacking, as the hackers can still hack markets and others, but they will have a safe payment.

giacatluong

full member

Activity: 395

Merit: 100

If government agree to open a blockchain, it would be a new beginning for Bitcoin step up to new height and growth. With government intervention, we secure more about transactions and avoid risk from hackers .

ABCbits

legendary

Activity: 2870

Merit: 7490

Crypto Swap Exchange

Quote from: opendata on July 22, 2018, 03:08:44 AM

Quote from: ABCbits on July 22, 2018, 02:37:00 AM

Quote from: hugeblack on July 22, 2018, 02:18:09 AM

Quote from: cryptowaltz on July 22, 2018, 01:30:37 AM

With so many new blockchains coming on a daily basis, do you think there will also be a time when government will decide to open a public blockchain ? If yes, would they prefer to operate identity based blockchain or something else ?

I do not expect a complete abandonment of the paper money at the moment. If there is the possibility of using the Blockchain by the central banks, I do not think there is anything that prevents governments from creating their own cryptos.
Definitely will not be anonymous currencies and users will be linked to their ID.
Nor do I expect there to be a high transparency for each system.

3. Reverse/delete transaction, which totally kill the idea of blockchain

Basically, it's not much different with today's system.

How can they reverse/ delete a transaction. There is no such thing as editable blockchain ! Basic 101

Not when it's closed and permissioned blockchain where all nodes working together/controlled by someone. I'd bet closed and permissioned blockchain choose consensus method which make manipulation/control easier.

Even though it shouldn't be called blockchain anymore, but few government/companies already do this.

ResuLT

member

Activity: 294

Merit: 10

I hope these taxes can be gone forever because I cannot even pay it for some reasons that make me cannot pay. Embarrassed

A decentralized thing on a country should be implemented so that they can even bring many efforts to their country.

clickerz

hero member

Activity: 1414

Merit: 505

Backed.Finance

Its very possible to happen in order to efficiently deliver services to its constituents. Though there are pros and cons about this, we hope it will be addressed.Having a blockchain based governance means its transparent and its like an open book. Security matters should be addressed too.

opendata

newbie

Activity: 25

Merit: 0

Quote from: ABCbits on July 22, 2018, 02:37:00 AM

Quote from: hugeblack on July 22, 2018, 02:18:09 AM

Quote from: cryptowaltz on July 22, 2018, 01:30:37 AM

With so many new blockchains coming on a daily basis, do you think there will also be a time when government will decide to open a public blockchain ? If yes, would they prefer to operate identity based blockchain or something else ?

I do not expect a complete abandonment of the paper money at the moment. If there is the possibility of using the Blockchain by the central banks, I do not think there is anything that prevents governments from creating their own cryptos.
Definitely will not be anonymous currencies and users will be linked to their ID.
Nor do I expect there to be a high transparency for each system.

3. Reverse/delete transaction, which totally kill the idea of blockchain

Basically, it's not much different with today's system.

How can they reverse/ delete a transaction. There is no such thing as editable blockchain ! Basic 101

CottonGuy

jr. member

Activity: 185

Merit: 5

If your identity and private information will be placed in a ledger that is visible to public eye is very dangerous. Imagine if those people who are less fortunate trying to access information to those billionaires and wait outside of their homes to beg or ask for solicitations or worst steal their wealth.

This is invasion of privacy and I truly believe that this won't happen in the future. Even the government won't sign up for this for it can destroy people's lives and families.

ABCbits

legendary

Activity: 2870

Merit: 7490

Crypto Swap Exchange

Quote from: hugeblack on July 22, 2018, 02:18:09 AM

Quote from: cryptowaltz on July 22, 2018, 01:30:37 AM

With so many new blockchains coming on a daily basis, do you think there will also be a time when government will decide to open a public blockchain ? If yes, would they prefer to operate identity based blockchain or something else ?

I do not expect a complete abandonment of the paper money at the moment. If there is the possibility of using the Blockchain by the central banks, I do not think there is anything that prevents governments from creating their own cryptos.
Definitely will not be anonymous currencies and users will be linked to their ID.
Nor do I expect there to be a high transparency for each system.

Besides, i'm sure government will :
1. Checking all transaction (just like bank today) and could deny/censorship transaction on specific case such as unusual high amount or send to people/organization with bad reputation in government eyes.
2. Only government could push/add new transaction, while citizens at most can see whole blockchain.
3. Reverse/delete transaction, which totally kill the idea of blockchain

Basically, it's not much different with today's system.

Quote from: burgerpatty on July 22, 2018, 01:34:26 AM

Quote from: cryptowaltz on July 22, 2018, 01:30:37 AM

If governments own identity based blockchain, government will be able to monetize this data and help the world become tax free ? Anyways people are talking about 'basic universal income' in the world of Artifical Intelligence (future).

You should be able to monetize your data.. Government monetizing your data doesnt makes sense to me..

True, but that already happen today. Even if people know about it, most of them doing nothing anyway.

hugeblack

legendary

Activity: 2506

Merit: 3645

Buy/Sell crypto at BestChange

Quote from: cryptowaltz on July 22, 2018, 01:30:37 AM

With so many new blockchains coming on a daily basis, do you think there will also be a time when government will decide to open a public blockchain ? If yes, would they prefer to operate identity based blockchain or something else ?

I do not expect a complete abandonment of the paper money at the moment. If there is the possibility of using the Blockchain by the central banks, I do not think there is anything that prevents governments from creating their own cryptos.
Definitely will not be anonymous currencies and users will be linked to their ID.
Nor do I expect there to be a high transparency for each system.

Quote from: cryptowaltz on July 22, 2018, 01:30:37 AM

If governments own identity based blockchain, government will be able to monetize this data and help the world become tax free ? Anyways people are talking about 'basic universal income' in the world of Artifical Intelligence (future).

I do not expect governments to give up taxes and since these currencies will be central, I think taxes will be deducted more easily.

burgerpatty

newbie

Activity: 28

Merit: 0

Quote from: cryptowaltz on July 22, 2018, 01:30:37 AM

With so many new blockchains coming on a daily basis, do you think there will also be a time when government will decide to open a public blockchain ? If yes, would they prefer to operate identity based blockchain or something else ?

In that scenario, what would happen to Civic Identity based solution running on bitcoin blockchain or similar solutions ?

Quote from: cryptowaltz on July 22, 2018, 01:30:37 AM

If governments own identity based blockchain, government will be able to monetize this data and help the world become tax free ? Anyways people are talking about 'basic universal income' in the world of Artifical Intelligence (future).

You should be able to monetize your data.. Government monetizing your data doesnt makes sense to me..

cryptowaltz

newbie

Activity: 21

Merit: 0

With so many new blockchains coming on a daily basis, do you think there will also be a time when government will decide to open a public blockchain ? If yes, would they prefer to operate identity based blockchain or something else ?

If governments own identity based blockchain, government will be able to monetize this data and help the world become tax free ? Anyways people are talking about 'basic universal income' in the world of Artifical Intelligence (future).

Do you think that instead of asking taxes from public, government will give them the money in return of their basic data to be stored on the blockchain ??

Afterall, what sense does it make in the current system if someone goes to a bar and shows a driving license ? The bartender doesnt needs to know your address - on the driving license.. He just needs to know whether you are 18 plus or not... May be he can just run a check on government based blockchain in future?

Topic: Government to own identity on blockchain in future ? - page 3. (Read 622 times)