How well is the Blockchain technology adopting?

panganib999

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Quote from: Chris Barth on September 29, 2019, 11:29:09 AM

After doing my research, I found that as of August 2018, there were over 1,600 cryptocurrencies. Presently, I'm sure that there's a great increase in the number of cryptocurrencies. This is because almost every time, new cryptocurrencies are created. With this and some other improvements, it is obvious that the Blockchain technology is really spreading. However, a lot of people have little or no idea about the Crypto world.

I was really surprised when I realised that only about 8% of Americans own Crypto money, and they are mostly men.
Some say that the Blockchain technology isn't really going as far as it should because most users don't really confide in others.
What do you think is the reason why the Blockchain technology isn't adopted as fast as we suppose it should?

Blockchain technology is most adopted and known in cryptocurrency for it provides the privacy, security and safety of the transactions, assets and everything that necessitates crypto space and is performing very well. At this time, there are lots of new applications that uses blockchain technology, there are around 17 applications that uses it and it includes Asset management: trade management and settlement, Insurance: claims processing, payment: cross-border payment, unconventional money lenders and traditional money lending. As you can see that the following given are related to financial aspects which needs more of privacy and security.

Chris Barth

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Quote from: MetalGear on October 02, 2019, 09:28:34 AM

Quote from: Chris Barth on September 29, 2019, 11:29:09 AM

After doing my research, I found that as of August 2018, there were over 1,600 cryptocurrencies. Presently, I'm sure that there's a great increase in the number of cryptocurrencies. This is because almost every time, new cryptocurrencies are created. With this and some other improvements, it is obvious that the Blockchain technology is really spreading. However, a lot of people have little or no idea about the Crypto world.

I was really surprised when I realised that only about 8% of Americans own Crypto money, and they are mostly men.
Some say that the Blockchain technology isn't really going as far as it should because most users don't really confide in others.
What do you think is the reason why the Blockchain technology isn't adopted as fast as we suppose it should?

Well, I think the reason could be, people aren't well educated and enlightened about blockchain technology, they aren't well engaged to the things that involves blockchain technology and that makes them unaware of it.
Another reason is, people are sticked to.the technology they've known and not everyone is open about continuous learning, approximately not half of the percentage of the population still aren't deeply exposed to technology despite of living in the modern era. Another factor could be, the co-existing technology that keeps on being the rival of blockchain in terms of dominating technological space.

To me, this is just the perfect answer (especially the first answer). I also do think that it is because some people don't know about Blockchain technology. Some of them that was once told probably lost interest because the probably didn't get the cash they expected.

MetalGear

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Quote from: Chris Barth on September 29, 2019, 11:29:09 AM

After doing my research, I found that as of August 2018, there were over 1,600 cryptocurrencies. Presently, I'm sure that there's a great increase in the number of cryptocurrencies. This is because almost every time, new cryptocurrencies are created. With this and some other improvements, it is obvious that the Blockchain technology is really spreading. However, a lot of people have little or no idea about the Crypto world.

I was really surprised when I realised that only about 8% of Americans own Crypto money, and they are mostly men.
Some say that the Blockchain technology isn't really going as far as it should because most users don't really confide in others.
What do you think is the reason why the Blockchain technology isn't adopted as fast as we suppose it should?

Well, I think the reason could be, people aren't well educated and enlightened about blockchain technology, they aren't well engaged to the things that involves blockchain technology and that makes them unaware of it.
Another reason is, people are sticked to.the technology they've known and not everyone is open about continuous learning, approximately not half of the percentage of the population still aren't deeply exposed to technology despite of living in the modern era. Another factor could be, the co-existing technology that keeps on being the rival of blockchain in terms of dominating technological space.

Reosta_

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For my part, Blockchain technology will always continue to develop. It will reach a very serious level in a few years. Companies has already started to line up for Blockchain technology.

Expecto

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Quote from: Chris Barth on September 30, 2019, 02:54:28 PM

Quote from: CLS63 on September 30, 2019, 02:45:33 PM

I think Blockchain technology is adopting very fastly. I have seen many news about companies starting to use Blockchain technology and searching for people who is experienced with Blockchain.

searching for people who are experienced with Blockchain? Woah, that's really impressive. I haven't for once seen any company which is looking for those with the Blockchain technology experience. However, if you're right about this, then Blockchain technology definitely about to kaboom.

For example, NASA is searching for a data scientist. One of their criteria is 'Blockchain experience as a plus.'. I think this proves that Blockchain technology is getting more valuable day by day.

Lizzylove1

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Christ The King

Even though the technology is what took the society by surprise, and with many opposition because of its decentralized nature which gives control to the people rather than a central authority, which the world government is strongly against. So far looking at the listed oppositions, the blockchain has achieved more than I have projected.

Chris Barth

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Quote from: CLS63 on September 30, 2019, 02:45:33 PM

I think Blockchain technology is adopting very fastly. I have seen many news about companies starting to use Blockchain technology and searching for people who is experienced with Blockchain.

searching for people who are experienced with Blockchain? Woah, that's really impressive. I haven't for once seen any company which is looking for those with the Blockchain technology experience. However, if you're right about this, then Blockchain technology definitely about to kaboom.

Chris Barth

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Quote from: Shenzou on September 30, 2019, 02:05:58 PM

This is not true, including to some articles and based on what i have witnessed over the last couple of years, the blockchain technology is one of the fastest and well spoken technology that is being adopted out there, and when we talk about blockchain we are not just talking about cryptocurrency we are talking about a whole new system that connects people, and every now and than we hear news about banks, companies research industries trying and testing this new and growing technology, and this is just the beginning.

I'm starting to think you're right. Some of these sites just put whatever information (articles) they like when most of them are totally untrue.

CLS63

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I think Blockchain technology is adopting very fastly. I have seen many news about companies starting to use Blockchain technology and searching for people who is experienced with Blockchain.

lumierre

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Quote from: bL4nkcode on September 29, 2019, 12:00:58 PM

Quote from: Tipstar on September 29, 2019, 11:52:20 AM

It's rise to the fame was quick but it's the restrictions and regulations that are making people skeptical about it's future use. It's further adoption is halted due to legal issues as most of the countries are making it illegal to hold all or some cryptos.

Crypto regulations is one of the aspects why more people want to use it and adopt the technology to their businesses, but not limited to its volatility behavior.

Despite the general hype around blockchain technology, it is important to understand that this is just a database that has special properties. However, the use of blockchain can have an impact on many areas of human life. At the moment, most companies still work according to the old scheme, but the most progressive ones, especially in developed countries, are gradually shifting their business processes to the blockchain, which saves time and human resources.

Shenzou

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This is not true, including to some articles and based on what i have witnessed over the last couple of years, the blockchain technology is one of the fastest and well spoken technology that is being adopted out there, and when we talk about blockchain we are not just talking about cryptocurrency we are talking about a whole new system that connects people, and every now and than we hear news about banks, companies research industries trying and testing this new and growing technology, and this is just the beginning.

Arsenyo

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Adoption doesn't happen overnight. It takes months, years or even decades, it depends on the many factors. Now cryptocurrency isn't well known, practically every attempt of government to legalize crypto failed. I believe it will receive the attention it deserves, but not in near future.

hotmom

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I believe that while blockchain technologies are used and distributed quite successfully

Dread Pirate Roberts

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Quote from: Chris Barth on September 29, 2019, 11:29:09 AM

What do you think is the reason why the Blockchain technology isn't adopted as fast as we suppose it should?

Some factors that influence the widespread news of bitcoin are success news about it, and bad news about bitcoin itself, so far I think both of them are always there and people know about it. and for some people are still not active in digital technology, especially with digital investment, I think the government should educate more focus on digital investment and also bitcoin to many people. and also one of the problems, the government does not recognize that this crypto is a digital technology revolution that must be educated and spread.

jake zyrus

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As what we can see, people or even the government don't give much attention towards blockchain technology. That's what they're missing. But I do believe in the future, they will see the importance of blockchain and will receive the attention it deserves. If big countries would start promoting it, others would've followed.

Chris Barth

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Quote from: agustina2 on September 30, 2019, 03:49:59 AM

Quote from: Chris Barth on September 30, 2019, 03:14:07 AM

Quote from: teosanru on September 30, 2019, 02:35:52 AM

Quote from: Chris Barth on September 29, 2019, 11:29:09 AM

After doing my research, I found that as of August 2018, there were over 1,600 cryptocurrencies. Presently, I'm sure that there's a great increase in the number of cryptocurrencies. This is because almost every time, new cryptocurrencies are created. With this and some other improvements, it is obvious that the Blockchain technology is really spreading. However, a lot of people have little or no idea about the Crypto world.

I was really surprised when I realised that only about 8% of Americans own Crypto money, and they are mostly men.
Some say that the Blockchain technology isn't really going as far as it should because most users don't really confide in others.
What do you think is the reason why the Blockchain technology isn't adopted as fast as we suppose it should?

Talking about blockchain technology, I think it is still much underrated considering the increased amounts of security it can bring with it. Major companies are trying to move their data over blockchain but there is still a huge market of blockchain. Indian government has already announced its plans to create a govt. backed cryptocurrency Lakshmi and also said that it would promote the use of blockchain in all sectors. some companies India has even started to take it's property records over blockchain.

This is really impressive. I hope all countries and their government come to understand the benefit of the Blockchain technology and not limiting it's citizens from it.

Here in our country, there's only few who are well informed on what blockchain, cryptocurrency, or bitcoin is all about. Most of the people here still think that this is scam when it's actually not. Well, I can't blame them since there are lots of scammers here, even those that are not related to blockchain and crypto. That's one of the major factors that affect why it's still not so popular here.

We're thankful that it's not banned or treated as illegal here unlike on other countries. And some establishments even starting to recognize on using bitcoin for transactions. I still don't even heard from our government taking action about this. I don't know if they're still unaware or if they're just focusing on some other issues instead or if I just missed something. But that's the current status in my country.

That's the point. Even here in my country, only a very few people are informed about Crypto. When you tell them, it's either they've never heard of it before or they sigh. However, I also point at fraudulent activities to be one of the major reason behind the fact that some people think Crypto is scam. Finally, it'll spread beyond all doubts (I believe).

sodiik

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Crypto quickly became very popular when Crypto's success occurred in 2017. Many crypto coins are experiencing a very high increase and especially for Bitcoin. Since then also cryptocurrencies are spreading outside and in my country, many people know crypto.

Maybe Americans and every other country have regulations. So it is not easy for Crypto to run in any country. I personally have a good view of crypto adoption. With various coins in the crypto, it can make a profit. But we also have to be vigilant because in every technology there will be problems.

hahahafr

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The adoption of the blockchain technology would not happen overnight mate. This is revolutionary technology for the financial industry and existing institutions are really doing their due diligence before adopting it. Also, the numerous hacks of some blockchain solutions also discourages people from adopting it Sad

. However, all hope is not lost as i know successful blockchain solutions that have been developed and working smoothly ever since.

agustina2

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Quote from: Chris Barth on September 30, 2019, 03:14:07 AM

Quote from: teosanru on September 30, 2019, 02:35:52 AM

Quote from: Chris Barth on September 29, 2019, 11:29:09 AM

After doing my research, I found that as of August 2018, there were over 1,600 cryptocurrencies. Presently, I'm sure that there's a great increase in the number of cryptocurrencies. This is because almost every time, new cryptocurrencies are created. With this and some other improvements, it is obvious that the Blockchain technology is really spreading. However, a lot of people have little or no idea about the Crypto world.

I was really surprised when I realised that only about 8% of Americans own Crypto money, and they are mostly men.
Some say that the Blockchain technology isn't really going as far as it should because most users don't really confide in others.
What do you think is the reason why the Blockchain technology isn't adopted as fast as we suppose it should?

Talking about blockchain technology, I think it is still much underrated considering the increased amounts of security it can bring with it. Major companies are trying to move their data over blockchain but there is still a huge market of blockchain. Indian government has already announced its plans to create a govt. backed cryptocurrency Lakshmi and also said that it would promote the use of blockchain in all sectors. some companies India has even started to take it's property records over blockchain.

This is really impressive. I hope all countries and their government come to understand the benefit of the Blockchain technology and not limiting it's citizens from it.

Here in our country, there's only few who are well informed on what blockchain, cryptocurrency, or bitcoin is all about. Most of the people here still think that this is scam when it's actually not. Well, I can't blame them since there are lots of scammers here, even those that are not related to blockchain and crypto. That's one of the major factors that affect why it's still not so popular here.

We're thankful that it's not banned or treated as illegal here unlike on other countries. And some establishments even starting to recognize on using bitcoin for transactions. I still don't even heard from our government taking action about this. I don't know if they're still unaware or if they're just focusing on some other issues instead or if I just missed something. But that's the current status in my country.

Chris Barth

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Quote from: yazher on September 30, 2019, 02:52:31 AM

As of today, there are more and more countries that adopting blockchain technology some of them have to make their own version of cryptocurrency with their own money with a fixed price.

We are lucky to be one of the first people to know about its existence. Without our knowledge of this technology, Hearing something about Cryptocurrency will become strange for us.

In my country some small business is taking Altcoins as a means of payments, I cannot wait to see more adoption of Blockchain technology in our country. Today, maybe only small businesses are using it but later on, when they found this out big businesses will adopt it too.

Nice to hear how it's going on in your country. However, in my own country, there's little or no business accepting Crypto money. Though I believe it'll keep spreading, it's not spreading like wild fire to me.

Topic: How well is the Blockchain technology adopting? (Read 435 times)