Topic: How well is the Blockchain technology adopting? - page 2. (Read 435 times)

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.

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.

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.

Your research is either deeply flawed or it comes from moronic sources that claim bs just to promote their business.
See this thread for those stupid claims:
Less than 0.3% of the world population owns more than 1$ worth of BTC


Well, technically 0.001% is less than 5% but pointing a figure next to 5% is simply wishful thinking.

Simple math.
5% of the world population would be at around 300 million (excluding under 16yo).
Now, Bitcoin has 400k tx a day and ethereum 600k tx, the rest really doesn't matter.

So, in order to achieve 300 million users, the user would have to do 1 single tx a year.
Make two and we would exceed capacity.

So, considering 1 transaction a month per user the number would be closer to 0.5% of the population but far below it.
Considering one tx a day...0.013%.

Here, mate, blockchain =/= cryptocurrency. In words, blockchain is not equal to cryptocurrency. One could very well adopt blockchain without necessarily minting digital coins in the same manner that one could make and release coins without necessarily creating his own blockchain. He could use an existing network for that. But let me be quick to note that it is not possible for any cryptocurrency to function as such without blockchain.

The adoption of blockchain is much faster than the adoption of cryptocurrency. Blockchain is now being used by large companies all over the world. Here is an article that lists 50 Billion Dollar Companies ^[1] which are using the blockchain technology. On the other hand, the applicability of blockchain could also improve government operations. You might want to take a look at this^[2]. And even the UN has already started to explore this technology and how it could actually boost their efforts.^[3]


[1] https://hackernoon.com/list-of-leading-billion-dollar-companies-using-blockchain-11b427a64aac
[2] https://www.computerworld.com/article/3412304/how-governments-around-the-world-are-using-blockchain.html#slide1
[3] https://thenextweb.com/hardfork/2018/09/24/united-nations-blockchain-supprt/

First, blockchain technology and cryptocurrency are two different things, when people talk about blockchain they often mean a private blockchain with small number of participants.

As for cryptocurrencies, the fact that there's so many of them doesn't mean that "blockchain is spreading", it takes very little effort to create one - just copy some code, change some variables and you are ready to go. Or just create a token on ETH network. Big supply of cryptocurrency doesn't mean that there's big demand to match it, and you can see it by how how many altcoins have died already.

The reasons why crypto isn't getting adoption are volatility, lack of security for users, undecided legal status for businesses, and also people simply don't care about inflation and government/bank control over their money.

I don't think I will agree with you on this analysis using the total amount of cryptocurrencies available  to conclude on how wild blockchain technology is spreading. With regards to the use of blockchain technology, a lot of companies use it as a ledger for storing and recording information.  Most of these companies do not regard the payment system aspect of blockchain technology. But people don't really know the cryptocurrency aspect of blockchain technology due to the decentralized nature of it.  Blockchain technology is being adopted well by companies which need decentralized system to store and keep data...

Better than I would have ever expected. Its true that we're only on the baby steps with Bitcoin and Blockchain Tech but lets be honest and look at the bright side that every day since 2011 people are joining the "revolution' of new money and we're like the alpha testers of something new. From 2020 I think we're entering the new era of Blockchain when we might see a crazy number of new adopters coming through as world population use bitcoin on a number ~ 5.8 million which is super low compare to other global techs like social media or anything similar.

I also believe that in 2020, after the Halv occurs its a must to own bitcoin whenever in the world you're right now as its simple mathematics, if we divide world population to total supply of bitcoin ( cutting the bitcoins who have been lost during the early days ) a simple of 0.25-0.3 bitcoin can change your life in the next 10-15 years if the price and adoption continues so just hang tight and embrace Blockchain and Bitcoin.

so after thinking that 8% of americans had crypto (not even 8% of americans invest in gold) .. your now saying crypto is less known than gold..
.. i guess your now of the mindset that your 8% figure was wrong (yep it is definetly wrong)

"I was surprised that although cryptocurrency is still new, it is being well-known worldwide and being used by a lot of people globally."

Well-known? I don't think Cryptocurrency is well known. Though I see a few online stores that accept Crypto, I don't  think that Crypto is well known cause a whole lot of people would have adopt it. So funny how most people don't even know the word 'Cryptocurrency'.

When I said 1,600 cryptocurrencies, I was referring to last year August statistics. However, if the other cryptocurrencies were actually created in the space of 1 year (august 2018 - now), then that is obviously a massive adoption of the Blockchain technology.

We have seen a lot of blockchain projects exploring various industries, however, only few of them can realize their objectives. Why? Because most of them are created for the benefit of the developers and not what they are supposed to be. That's a sad fact! If only those projects will be sincere with their respective mission, we will see more successful blockchain projects helping those industries achieve a better system. But having said that, there are still big institutions that are trying to integrate blockchain technology in their system, and we will know in the near future if that will be a success or not.

I was surprised that although cryptocurrency is still new, it is being well-known worldwide and being used by a lot of people globally. So I think, cryptocurrency can adopt to the world changes since we are on an internet generation that all things happen online and one of the example of the adaptation of the cryptocurrency is it is being used online to used it as a payment. Cryptos are still improving and I think a decade from now all of us will used cryptocurrency on our daily lives.

im surprisd too.. especially when there are only under 30million addresses valued over $1 used for the whole bitcoin network.
so if your saying 8% of americans have btc. then the other 200 countries must only have like a few hundred people using it...

i could then say, ha ha ha that disproves the myths that 'china owns btc'..
i could then say, ha ha ha that disproves the myths that 'btc international currency'..

but the truth is more so that the number of americans using bitcoin is much lower
though not so accurate if you look at the node distribution by country, as a flimsy bases for possible populate stats
1   United States   (25.42%)
2   Germany           (20.66%)
3   France           (6.51%)
4   Netherlands   (5.24%)
5   China           (3.59%)
6   Singapore           (3.42%)
7   Canada           (3.38%)
8   United Kingdom   (3.29%)
9   Russian Federation (2.52%)
10   Japan           (2.06%)

then out of the 30million addresses of value america is only 25% meaning 7.5million people = 2% population
whereas from the 30million addresses of value germany has 20% of network nodes, meaning 6million people = 7% population

thus suggesting bitcoin is more popular in germany

ofcourse some of them addresses of small amount can be held by just one person so number of people having coin over $1 value could be far less than 30million worldwide. but saying that 30million of just americans have btc.. is a stretch based on the number of addresses with funds

Kinda harsh statment there?  Would be better to use underdevelop but still underdevelop countries have geniuses that can absorb and learn new technology really well, I wonder if there is such country that is uneducated.


True!  Many project have same people behind especially in ICO cryptocurrency.  It seems that these developer won't have enough.  They keep raising a crowdfunding campaign in every idea they got that they wanted to implement on the industry, at the end they are lagging because of too much workload.


Honestly I think it is way less than 5%.  Raw market if adoption really take place.


People are impatient especially on the cryptocurrency industry.  A week for them feels like a year because of the fast phase price changes (high volatility).  So they worry to much about adoption and is worsen by the get rich idea in their mind.  But I agree with you, adoption will come in as long as everyone is doing their part on awareness program and not taking advantage of the uninformed people and exploit them to get more profit.

In my opinion, Blockchain has a few adoptions even though there are just a few people around the world the popularity is sure increasing, But it doesn't mean that the number of created coins will sure base the popularity of this kind of technology, but as I said there are a few that have notice blockchains worth, and there are few Blockchain-based services other than record purposes to cryptocurrency, And if you would search  the net you would see that some establishments that are working to use blockchain for conveniency of their work.

Example of these is for Banking Records, School Records, Office Records Election powered by Blockchain technology, Parking, And many more!

I strongly support the aspect where you speak about fear. I also believe that some (or most) people are really afraid of losing their money. Adding to that, this fear could probably be caused by scam stories and experience.

To me, I don't really consider 8% to be a good number. PS: I'm not saying it's bad either. However, let's actually wait and see what happens in the future. (though I have very positive thoughts)

That is the point. A lot of people are just unaware about the Blockchain technology. If I asked someone next to me about the Blockchain technology, I strongly doubt I'll get an answer.

Get me right, I'm not saying that there's no improvement. I'm trying to think out why the Blockchain technology is adopted as fast as it should.