How will Blockchain play a part in the Third Industrial Revolution

Ilegendph

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Quote from: jjacob on April 28, 2018, 04:04:08 AM

Innovations like the steam engine affected almost all industries. The blockchain may be innovative, but I don’t see it having such a far reaching impact. So the claims that it may cause yet another industrial revolution seem premature to me.

I believe that blockchain will play an important role in all aspects of an economy specially in finances. Imagine the limitation of an old style ledger that solved by blockchain technology like security and accessibility. I believe that there will be processes that will be much faster because of this technology and soon it will replace centralized database because of the security feature.

jjacob

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Innovations like the steam engine affected almost all industries. The blockchain may be innovative, but I don’t see it having such a far reaching impact. So the claims that it may cause yet another industrial revolution seem premature to me.

stompix

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Quote from: byzygal on April 27, 2018, 03:42:09 PM

Economic theorist Jeremy Rifkin talks about the significance of blockchain in a new clean zero cost shared economy for data and financial security.

There is no such thing as zero costs.
No matter how you implement the blockchain the data still has to be stored on servers and it must be distributed between nodes.

Quote from: byzygal on April 27, 2018, 03:42:09 PM

How significant of a role do you think crypto would play in this projection for our future? This incredible talk reminded me that crypto is just a tool that arose out of a new era of consciousness alongside technology feeding off of one another. Just as we realize that we can only benefit from our coin investments if we first give life and value to crypto.

The blockchain does not mean automatically coins or tokens.
Companies implementing the blockchain have no interest in creating a coin that will be traded on the market, what would that coin even mean, what it would represent?

Sometimes it makes me said that all that people can see in the blockchain is a way to get rich by holding coins

ecnalubma

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Blockchain is a breakthrough invention I believe it filled the missing piece in our society which is transparency. This technology is about trust and why some people opposes it because they like the existing and outdated system. We need change and innovations like this and we must move forward and solve current problems innovatively.

HabBear

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Quote from: Jamescur on April 27, 2018, 05:39:25 PM

Blockchain affects production relations and may cause the fourth industrial revolution!

With the Internet of things as the core, it is possible to achieve a better match between supply and demand with the help of iot technology.

Production relations is good. The blockchain can more efficiently communicate the transactional information between machines, systems, departments, independent units involved int he supply chain, even the tracking of the goods themselves (and components of the goods). It's like the internet 20 years ago. People could say - wow, this could be used for so many things, but it's hard to get into specifics...the real details...without venturing down the path of just one scenario.

Jamescur

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Blockchain affects production relations and may cause the fourth industrial revolution!

With the Internet of things as the core, it is possible to achieve a better match between supply and demand with the help of iot technology.

HabBear

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Quote from: dothebeats on April 27, 2018, 04:27:22 PM

The term "Third Industrial Revolution" sounds like over exaggeration to me. I only see the blockchain being widely integrated on the banking and finance sector alongside some services that needed automation and trusty recordkeeping. Though this might sound a little task for the blockchain, still imagine the number of traditional and primitive ways it will be replacing once it gets utilized by services, governments and companies all over the world. Efficiency and cost-effectiveness would be blockchain's edge over some of the traditional ways people handle recordkeeping and other stuff, and that is if the tech is integrated correctly in a service.

I thought so too, surprisingly it's actually a thing.

Here's an Economist article on it: https://www.economist.com/node/21553017

Here's a web search on it - it's every where - something new to read about: https://duckduckgo.com/?q=the+third+industry+revolution&t=ffab&ia=web

dothebeats

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The term "Third Industrial Revolution" sounds like over exaggeration to me. I only see the blockchain being widely integrated on the banking and finance sector alongside some services that needed automation and trusty recordkeeping. Though this might sound a little task for the blockchain, still imagine the number of traditional and primitive ways it will be replacing once it gets utilized by services, governments and companies all over the world. Efficiency and cost-effectiveness would be blockchain's edge over some of the traditional ways people handle recordkeeping and other stuff, and that is if the tech is integrated correctly in a service.

Pearls Before Swine

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I don't know, I just read an article (which I can't find at the moment) saying that blockchain tech isn't really being used to solve any actual problems, and I tend to believe it. Bitcoin isn't being adopted as a currency by the masses, and altcoins? Yeah, I don't have a very rosy outlook for them.

All of this could change, but I don't think bitcoin or blockchain tech has turned out like people predicted. If you read stuff on bitcointalk it's clear that there are a lot of people worldwide who are really passionate about it, but the life of the average person hasn't changed appreciably because of blockchain. The average person probably doesn't even know what it is. So no, it's not going to induce any sort of revolution, industrial or otherwise.

HabBear

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Quote from: byzygal on April 27, 2018, 03:42:09 PM

How significant of a role do you think crypto would play in this projection for our future?

Proof that the power of the people can overrun big $ and governments with our numbers manifesting a world of our own making.

We should also be asking how BTC can help us realize this next revolution in the here and now.

Well, how is there a third industrial revolution on the horizon? Are we talking only about 3D printing? I mean I know it has its purpose but people have been talking about 3D printing for a decade yet it hasn't taken off much - why? Too much investment for the purpose? Too much ahead of its time?

Blockchain has tons of use in the world, to make the world more efficient, more safe, more productive. But I wouldn't call it a real driver of the next "industrial revolution". Blockchain will be the driver of revolution across multiple industries.

byzygal

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https://www.youtube.com/watch?v=QX3M8Ka9vUA

Economic theorist Jeremy Rifkin talks about the significance of blockchain in a new clean zero cost shared economy for data and financial security.
How significant of a role do you think crypto would play in this projection for our future? This incredible talk reminded me that crypto is just a tool that arose
out of a new era of consciousness alongside technology feeding off of one another. Just as we realize that we can only benefit from our coin investments if we first
give life and value to crypto. Proof that the power of the people can overrun big $ and governments with our numbers manifesting a world of our own making.
We should also be asking how BTC can help us realize this next revolution in the here and now.

Topic: How will Blockchain play a part in the Third Industrial Revolution (Read 159 times)