Topic: Is blockchain a perfect solution? - page 3. (Read 2204 times)

The irreplaceable nature of blockchain is an important factor for financial institutions to care about and find ways to build applications based on their own blockchain, even considering it a payment solution of the future. However, until now blockchain has not become a popular payment method and has not really benefited electronic payment.

Well if the machines were programmed to just do that then people will be more likely to put their trust into the machine than the human, the blockchain transparency itself is a huge advantage, people have been trying to solve the trust issues that cause so many problems like corruption, nepotism and many more now finally blockchain arrives but it seems that people are still ignoring, so yeah. If blockchain is used for the right things it will massively benefits the society. People who says ill words about blockchain on more of social aspect doesn't seem to comprehend the real side of blockchain if used for right things.

Blockchain technology is the solution to the modern problems that we are currently facing right now such as transparency and trust issues and with this technology, we don't have to worry about those issues anymore. There are a huge variety of uses with this technology maybe some people will not recognize it now because of negative impressions about the technology but sooner or later they will be surely using this technology in my own point of view.

There is a reason why humans trust machines or new technologies these days and the word "TRUST" is one of the major reasons why if you get what I mean.

The level of security that Blockchain technology provides, is more than enough to replace current systems of the old century. It may not be perfect, but developers from different projects and regions have worked effortlessly in order to improve the technology for the better. The best thing, is that Blockchain technology brings us a level of autonomy that's never before seen. For the first time in history, people can be in control of their own money and even identities by embracing such technology.

As time goes by, we'll be able to experience faster and cheaper payments that are possible to take the world by storm. It's only a matter of time before prominent entities like Banks, governments, and corporations realize this in order to use Blockchain technology more thoroughly.

Nonetheless, I believe that Blockchain technology will reach near-perfection within just a few years from now. Just my opinion

Agree, blockchain can have a lot of uses in the future like the above mentioned but for now it is only limited to cryptocurrency. Blockchain is still being developed and improve to be better so I guess we can expect more in the future or in the coming years.

Will just give a hope that using blockchain technology will help to have an effective voting system cause isn't tested yet. It is the use of blockchain to have certain limitations and we've never known how it works into the other areas aside from it is used into cryptocurrency.
I know we are into developing its system and quite to see more improvements and integrations in the future.

I do not know the relevance of blockchain in ID. But I think it may help a lot in different things today since we need right now is transparency. Blockchain technology will give us an adequate information on which, what and how a certain thing happen. If there is a blockchain technology, we can easily grab the data we need and it assure us that voting or election will not be corrupted by candidates.

Blockchain isn't the perfect solution to our problems but its sure an upgrade to current technologies as it offers unrivalled security and easy to use services

Yes.Blockchain is perfect solution.But not 100% perfect solution.More security should to be add soon as possible.There are so many hacking scene reporting in these years.Even then high security exchangers was hacked.There should be a system to prevent these types of hacking scenes.I doesn't mean hack proof system.That can't build any soon.But close to it at least a way to cancel the value of coin.What do you think about that?

Completely agree with you, mate. There's not even a single technology in this world, that it's perfect. Every once in a while, flaws are discovered which reflect the humans' errors as a part of daily life. While this is true, we work our way towards minimizing or improving such flaws as much as possible. This applies to Blockchain technology as well. Since Bitcoin's creator is known to be human, and not a machine, many flaws are existent within cryptocurrencies and their underlying technology (which is the Blockchain).

Still though, Blockchain has the potential to transform nearly every industry in the world today. Its large applications are within finance, but it can also be used for identity verification/issuance, proof of ownership, elections, and more. It's not a perfect solution, but it's by far the best solution available to help change our society towards the better.

Nonetheless, I believe that as time goes by, Blockchain will continue to improve until it's near perfection. It's hoped that it will help improve our economy by bringing cheaper fees and faster transactions while eliminating the need for a middleman. Hence, it'll do well from now and beyond. Just my opinion

There are a number of healthcare organizations utilizing blockchain technology. Perhaps they have found use cases for private blockchains. In my research of the problems within the healthcare industry, providers may have difficulty accessing patient data due to the siloed nature of the data - in different databases and inaccessible when needed.

Blockchain is a good solution but definitely not the perfect solution. We all know that everything had its own advantages and disadvantages and Blockchain is not an exception. We cannot doubt the fact that it improves transaction speed, security and all that, but it is not perfect.

Essentially the middle man is another human, and humans are the most unpredictable kind of beings. We tend to trust machines and technology a lot more, and rightfully so. In Blockchain, you are putting that trust into cryptography and transparency. Transparency allows everyone to see and verify the rules, while cryptography ensures it does not get tampered. To verify something, a large number of nodes must all agree, which means they will outnumber any potential hacker. Thus, Blockchain is very hard to hack.

Agree. Blockchain technology may not be a perfect solution, but it's still better than what we've been accustomed for a long time ago. Replacing the banking system of the past, would allow our economy to improve for the better. This becomes a reality, when Blockchain provides faster and cheaper transactions for the world. Given that transparency and efficiency are one of the key aspects of Blockchain, it could very well eliminate corruption and bring autonomy towards mainstream payments.

Banks and governments have realized this, and have started to adopt Blockchain technology for their own benefit. Of course, the flaws of this emerging tech are still there (such as lack of scalability and fungibility) but it's improving over time in order to become as perfect as possible. One needs to know that Blockchain technology is not meant to be used for nearly everything in our lives. In some aspects, Blockchain cannot fit well due to its many limitations.

Which means that, Blockchain will co-exist with other existing technologies in order to make our world a better place. Perhaps, in the future, decentralization will become more widespread across the world, taking some dominance from the centralized realm. If this becomes a reality, then people would have more control over their identities and funds in a whole new way that was never before seen. Just my thoughts

Yes,blockchain  will  be pouplar

Blockchain technology has a broad usability and cryptocurrency is just one of the many ways Blockchain can be utilized. Apparently, every work or field works with information and data. These information or data can be well managed using the Digital Distribution Ledger feature of the Blockchain technology which allows its storage, verification, transparency, etc.

I agree with you that the blockchain eliminates the role of third parties, because it will increase transaction costs. In addition, Blockchain technology can economically reduce unnecessary costs, so that products are produced economically.
In an increasingly efficient era, the issue of price, quality and speed of delivery is crucial to winning the competition. The Blockchain provides solutions to achieve such quality.

I would not call it a perfect solution but rather a solution which needs to be given an opportunity to be utilized than all these negativity about blockchain solution and cryptocurrencies. Blockchain technology would solve a whole lot of corruption if implemented in the financial systems of most governments.

the idea of ​​the blockchain was born to respond to the need of decentralization. how can I make (in this case a currency) decentralized?
the answer was to "create" the blockchain.
surely there is great potential for developing other types of blockchains or some similar technology.

First of all, blockchain is not a server, it is a system that connects so many computers in the world building what it is called decentralized chain of blocks, more detailed explanation you should read on wikipedia. The government didnt want to implement blockchain despite having so many benefits is the fact that the blockchain is decentralized, although there's some way to modify blockchain and make it more centralized however it seems that majority of the countries are still too afraid of using it, they are in the state of doubtfulness.