Topic: Is blockchain a perfect solution? (Read 2202 times)

The blockchain is a big breakthrough, which is ideal for the increasing needs of today's society. but indeed anonymous conditions are one of the problems, so many governments are still not ready to use them

I also recently read an article really Bitcoin the most popular in the world lately and I am sure that this trend will remain for many years to come and Bitcoin will develop to grow in scale and in price.

Blockchain has proved in last 10 years many industries are converting to blockchain based application so we can say in present time blockchain is the fastest used application

Yes. For this reason, I believe Blockchain technology will become the epicenter of the world's industries within the not-so-distant future. Everything is already there to help transform our society for the better. Now, it's up to the people to adopt Blockchain in every way. The progress has been somewhat slow, since many people are still accustomed to the traditional Fiat system of the past. But, millenials are easily adapting to new technologies, making them embrace the Blockchain like never before.

Of course, we cannot hide the fact that Blockchain has certain limitations that prevents it from being used at a large scale. But, such limitations are being minimized as much as possible by hard-working developers. We now have the Lightning Network, DAG-based cryptocurrencies, and even fully private coins like Monero and Grin. Considering how far Blockchain has reached ever since it launched back in 2009, I'd say that it's the perfect solution for the mainstream world.

Nonetheless, as time passes by, new technologies will appear. Either the Blockchain keeps improving or it'll be left behind by a new technology which greatly overcomes Blockchain's limitations. But, it looks like Blockchain will be here to stay for a very long time. Just my thoughts

Blockchain system is not without flaws, but I am sure that it is very promising!
Unfortunately, I only know about the blockchain system from here https://bitcoinbestbuy.com/bitcoin-mining-guide/ which tells how mining works.

Not to mention that humans usually makes more mistake than a robot that is specifically programmed just for that. A trustless automated system is what we needed at the moment to reach the peak of efficiency rather than just holding on the traditional way of managing our financials.

Blockchain technology is currently growing rapidly, many companies have applied it, starting from hospitals and others.

Even cafes in some countries have accepted bitcoin as a means of payment, and that's because they recognize blockchain technology.

It's a much better solution than using some of the fiat ways to do transactions. Usage just increases each day basically. Blockchain is really clever and doesn't seem to really need updating or changing.
For all that we have our altcoins. With all the different algo they use. A trustless service is the best service. I dislike human input because humans take time and I am not patient.

this indicates that the blockchain technology is accepted and becomes the solution in supporting activities in various industries, i think usage of blockchain technology will continue to grow in line with the necessities of the company and the consumer

Exactly. If Blockchain wasn't a perfect solution for the world, many Banks and governments would've overlooked it. But, they've realized that Blockchain is extremely beneficial towards increasing transparency, reducing corruption/fraud, and lowering costs. When implemented across several well-known industries within the mainstream world, the results are outstanding. Perhaps in the future, if Blockchain technology becomes highly successful, it'll become a part of our daily lives. From healthcare, to transportation, and supply chain management, Blockchain will serve well its purpose.

Nowadays, it's already proven that Blockchain technology can scale towards millions of transactions per second. New consensus algorithms like DPoS and DAG make this widely possible. Within Bitcoin's early days though, Blockchain wasn't as robust as it is right now. As the years passed, many developments came in order to improve Blockchain technology every step of the way. Of course, Blockchain still has its flaws as with any other known technology today. But, it's the best thing around towards helping transform our society for the better.

Nonetheless, I believe that Blockchain technology will become widely adopted by countries worldwide. Those that are too restrictive towards Blockchain, will eventually adopt it as they grasp its benefits. Since it becomes easier to tax and track transactions within a transparent Blockchain, governments could take advantage of the situation. Hence, it's safe to say that Blockchain is the way of the future. Just my opinion

The fact is that many government agencies have already realized the possibilities of new technologies and fully integrates the blockchain into their systems.  This applies not only to the banking system, but also to government structures.  It is a pity that certain governments in certain countries have a negative attitude towards cryptocurrency.

For sure, Bitcoin defeats corruption and fraud in many ways. Its Blockchain technology may not be perfect, but it's the best thing around towards helping our economy improve for the better. Banks and governments worldwide have noticed this, adopting this revolutionary tech for their own digital currencies. While Blockchain is still a work-in-progress, it has high potential of transforming not only finance, but other areas of our society too.

With newly fond developments, Blockchain is now capable of handling a large number of transactions per second, as well as, providing little to no costs when sending payments worldwide. In contrast to existent payment processors, Blockchain provides cheaper and efficient transactions for the world. Its abilities can be expanded to way beyond finance, via the use of smart contracts. Which means that Blockchain technology could very well be the perfect solution for nearly every well-known industry in the world today.

Nonetheless, Blockchain will still be the perfect solution for finance unless another technology which is better comes into inception. Even so, it's hard to find a replacement for Blockchain after all. Just my opinion

Well to be honest I don't think we can completely eradicate the governmentally twisted society, we do have some ups and downs , some benefits and some bad sides but trust me this world sure is a very dangerous place and to be able to control it till this extent is actually a good thing.
What I think is that blockchain gives us strength and control that we always needed and banks and all gives us security and backup that we cannot go on without.
Integrating them both creates a beautiful picture, no one can go without the other .
I think it's an amazing addition to our economy.

Some of your mentioned use cases definitely are  good and can be made to reality but you are overstating a bit the potential of privacy on block chain. Governments will never allow total privacy on your money transactions because of tax and security reasons. The medical question also is not as simple as you can think because not only you need to access this data but also doctors in different locations.

BLOCKCHAIN IS THE KEY FOR THE NEW TECHNOLOGY!

I strongly agree that blockchain is the perfect solution of all. Blockchain is already been used in project studies and many more are studying it for future purposes. Blockchain is the wonderful technology that we should focus on than waiting for bitcoin to get high. If they implemented blockchain especially on that government system, it will be secured and no one can manipulate the documents.

many of banks are already trying to implement blockchain to their system, it is not like blockchain is unusable for all those big corporates. They even trying to develop it further to help them manage their system and make it more efficient, it seems like instead of pressing they will just found a more efficient way to manage their own system

That's a perfect automatic system for controlling. If we would have a few PC's with the program, it easily could be broken. But blockchain prevents that.

It goes from each one, I think the blockchain system is a very secure system, but nothing is impossible, our government already imaginao join this system talves without fraud.

In my personal view, blockchain is not yet a perfect solution but a better solution for the perfect solutions to be built on.  Blockchain technology presents a system which is decentralized making it easier for people to join the blockchain network to share useful resources with no restrictions regarding who controls the amount of information sent or received.  In as much of its decentralized nature, I don't think Blockchain can be considered as the perfect solution. There is a long way for this technology...

blockchain technology is very useful for supporting human activities with the system decentralized and secure so that control does not reside on third-party centralized. not only in the field of finance, this technology is useful also in various business fields like public services, health and other.