Is Blockchain Really Revolutionizing The World? - page 2.

Twinkledoe

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Quote from: btc_angela on April 07, 2020, 04:14:30 PM

Quote from: joinfree on April 06, 2020, 04:05:08 PM

It's still very young to make such conclusions about Blockchain revolutionizing the world though some existing institutions have already started deploying their services with the use of blockchain technology. However, the goal of blockchain technology was designed by Satoshi Nakamoto to help cut down the chain of transactions as well as put power back into the hands of the people.

It could be very young, but data scientist and crypto developers have been talking about blockchain technology 2.0 already. So it is slowly revolutionising how data is to be stored and access and how it will help individuals and large companies makes decision. Specially the biggest companies in the world that offer logistics and supply chain management. They can really sort of exploit and take advantage of blockchain technology in their daily operations and perhaps can reduced their production cost and could boost their efficiency and productivity.

Indeed! If blockchain technology is optimized by many industries, their operations will improve and they will save of lot of resources. Transparency of transaction is very well addressed by blockchain technology. I believe if one or more big companies will be visible in using blockchain technology, more and more companies will follow thru. It is not because they want to be in but they will realize the great benefits that it will bring to their company.

Bezobraznike

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I would say surely it is but definitely it will take time to completely takeover. As it is a long process for the world to accept, legalize, adopt and then implement this new technology but i am quite hopeful that in next 2 years we will see good adoption towards blockchain technology.

I am here for more than 2 years, many things happened, but believe me I still have a feeling
like we are at beginning. Next 2 years will pass quickly, and believe we will see many things happening
in crypto-world, but globally it's not a big deal. 10 or more years will pass before we see some bigger
changes, corona virus can speed up this process, if people turn to crypto-currencies right away, but
that will not happen. There are majority out there that still needs to learn about crypto-currencies.

btc_angela

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Quote from: joinfree on April 06, 2020, 04:05:08 PM

It's still very young to make such conclusions about Blockchain revolutionizing the world though some existing institutions have already started deploying their services with the use of blockchain technology. However, the goal of blockchain technology was designed by Satoshi Nakamoto to help cut down the chain of transactions as well as put power back into the hands of the people.

It could be very young, but data scientist and crypto developers have been talking about blockchain technology 2.0 already. So it is slowly revolutionising how data is to be stored and access and how it will help individuals and large companies makes decision. Specially the biggest companies in the world that offer logistics and supply chain management. They can really sort of exploit and take advantage of blockchain technology in their daily operations and perhaps can reduced their production cost and could boost their efficiency and productivity.

el kaka22

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Is it really? I mean surely it is a great innovation and it is definitely used in many places but is it really revolutionizing the world? Maybe it is revolutionizing some parts of financial world and that is about it, how is healthcare changed in the past 10 years thanks to crypto?

How did the sports world? How did the food business changed? They look like they haven't used blockchain all that much and they look like nothing major happened whenever they tried right? That is why we can say that maybe our pockets may have changed, maybe individually we are more strong right now than 10 years ago when it comes to having a say in our financial dealings, but the world is vast and it has many business' in it which is why I can't really say it has changed all that much.

chainese

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If blockchain would not be that, it would not be used by global banks, it would not be considered as a new tool of transparent interaction between businesses, users, etc. It's properly clear that blockchain has started a new era of processing deals.

avikz

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Quote from: cytpoway121 on April 07, 2020, 06:44:55 AM

I do believe that bitcoin is revolutionizing the world, it is improving the way we think and helps us become more open minded with our approach.
For example, we now have stores that accept bitcoin as payment method, likewise we now have individuals that see bitcoin as a store of value

But still, theres a need to study further more in this crypto currency space.

No, bitcoin is not created to revolutionize the world. As of now, It is too small to do such big task of revolutionizing! Bitcoin is meant to change the lives of the people who have adopted it and that's what bitcoin is precisely doing! No revolution yet!

Bitcoin is still unheard by a large majority of the population. It's very very difficult to find a store that accepts bitcoin. The only way to unlock the power of bitcoin is to convert them to local fiat currency. So bitcoin has not yet started revolutionizing the world.

Bitcoin has started revolutionizing individual lives only. But it still needs to go a long way to actually feel the impact!

ballerin and giroud

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A few times ago I read an article about there is cryptocurrency which has a platform for online shop. Indeed, online shop as of now is being choosen by most people on this world. Because they only need smartphone to buy anything they want in wherever they are. But the paltform use blockchain as its main system and I am very like it.

Because online shop that popular as of now are centralized platform which is mean if there is something bad happened like hacking attack as an example then we (as its user) can't access the platform anymore. It will be different with online shop based on blockchain, when there is something happened like hacking attack we will still use the platform. The system is decentralized which is mean there is no party who manage it.

cytpoway121

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I do believe that bitcoin is revolutionizing the world, it is improving the way we think and helps us become more open minded with our approach.
For example, we now have stores that accept bitcoin as payment method, likewise we now have individuals that see bitcoin as a store of value

But still, theres a need to study further more in this crypto currency space.

conkeconke

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I think Blockchain technology is changing the world. There are companies already using or in talk about apply Blockchain into their system. Of course, such change is slowly but we need more time to see if it at the level of 'Revolutionizing" or not.

TheClownSong

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Blockchain might be a good technology for securing data and streamlining transactions costs, but to say it revolutionizes the world, I think it's still too far. The dominance of a central bank that is still strong in the economy might complicate cryptocurrency in mass use but if it is used as a business platform, blockchain might still be the best at the moment because it is decentralized

michellee

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So after reading some comment from the members, I think that blockchain really revolutionizing the world. Although the process continues until now, maybe we will see something different that will happen in the future. We don't know how long we will see it, but yes, the present of blockchain can change the economic and financial and in some section or field. And maybe after it become widely than now, the government will see how big the chance of blockchain to influence people to use the blockchain in every field of works. Maybe in a short time, we will see much innovative technology that bases on the blockchain.

Yudhisthir

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It indeed is. Though blockchain is used in different ways by different groups.
China for example has implemented blockchain in different sectors of it's economics like insurance and tracking and monitoring its citizens. Blockchain are also used to interact between IOT devices as well as it's being tested for creating a universal platform for autonomous driving.

mahilchii

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Blockchain is growing gradually but still it need time to execute the value of how important is in people's life, Blockchain technology facilities peer to peer transactions without any third party involvement which means our Personal information is private and secure. This is a great innovations of all time for me. Trust is built in system itself and this is what people are expecting from ages, I am sure Blockchain will dominate the globe very soon...

CryptopreneurBrainboss

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Quote from: htsy585 on April 06, 2020, 06:46:13 PM

I think people need to understand the fact that there are more applications to blockchain than just cryptocurrency and digital assets creation.

Exactly, everyone who'll be interested in contributing to this thread including the OP should take note of this, blockchain technology is more than just cryptocurrencies, most especially it's more than bitcoin. The technology can easily get adopted where as sidelining bitcoin in the process. If you take time to do some research you'll discover numerous countries have already picked interest in the technology and it's been used to improve some sections in thier country while as other development/research are currently ongoing to improve the technology.m for adoption.

The bank system is one of the sections benefits heavily from the technology and through the power of transparency other section like election and power distribution will/are also getting developed. I'm currently on the road so I'll not have the sources to back all my claims but I might do that when I get to where I'm going if I do remember.

maxreish

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You've shown some essential reasons already why tbks technology can revolutionize the world. Well, it's too early to predict now. But as much as I can see the greatness of blockchain technology, the advancement system it may offer. Then, the possibility of changing the world into a better revolution will indeed gonna happen.

Although, new technologies like this were hard to accept and adopt because of it's new side of interactions from previous traditional technologies, but seeing how convenient for it to use is a good factor.

Little Mouse

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Blockchain is being accepted by all over the world as it is providing more and more opportunities. Like, notarization may get easy, no need to depends on any other party. In my country, bank has already started to utilize blockchain although bitcoin is illegal here (No relation with them). And of course in the coming future, blockchain will be accepted by a lot of institutions.

Becky666

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Yes of course, we have seen many industries embracing the power of the Blockchain technology because of it transparency. I have read some.articles online about IBM and co who have embraced the true power of Blockchain even though they have not come to terms with cryptocurrency due to their feelings towards digital currencies.

For a quick remainder, some countries have already began the process of creating their own digital currency courtesy of the Blockchain technology. This technology have opened many opportunities for these countries and companies, so, to me, "Blockchain is actually revolutionizing the world".

htsy585

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I think people need to understand the fact that there are more applications to blockchain than just cryptocurrency and digital assets creation. Blockchain is an innovative technology that can disrupt virtually every world's sector and as such the people that understands it's concept are already incorporating it's potentials in their line of services to create values that will make the world a better place. Most of the outside world still see both cryptocurrency and the blockchain technology as thesame thing and the downtrends and fluctuation of the cryptocurrency market is really turning them off. I think the blockchain community needs to promote more of other things that blockchain can offers aside the creation of cryptocurrencies, that way we might see more massive adoption.

bttmember

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I feel world has now finally accepted the fact that digital is the way to go and every currency will be digital in the future we know China is in the final stages of launching its digital currency while now there are news that digital Euro is also being developed while USA political parties are also designing roadmap for a digital dollar. The great thing is that this digital dream will only be based on blockchain technology and crypto so just imagine the money flowing into real crypto market after big digital currencies by big world financial powers also do not forget the fact that this will give a lot of confidence to big investors and institutes to openly jump into crypto, i think bitcoins million dollar target will not seem impossible just wait a few more years.

joinfree

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It's still very young to make such conclusions about Blockchain revolutionizing the world though some existing institutions have already started deploying their services with the use of blockchain technology. However, the goal of blockchain technology was designed by Satoshi Nakamoto to help cut down the chain of transactions as well as put power back into the hands of the people.

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