Is this what's preventing wide-spread adoption?

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Quote from: forexandcryptoauditor on May 17, 2020, 12:26:48 PM

The thing is that governments understand blockchchain technology and they really want it for their countries' growth. However, due to not able to control it which is resulting in tax theft and money laundering and not able to regulate it, they are not in favour of this technology.
Hope soon more countries will adapt it with their own regulations.

Those are just excuses, governments have dedicated decades of effort to try to make people to adopt digital means of payments because they know that they can track every single transaction which is something that they cannot do if you use cash, not only that they could always silence people by blocking their bank accounts, but bitcoin gives you true freedom by not allowing anyone including governments to block your funds or your transactions and that is what they are afraid of.

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Quote from: jostorres on May 19, 2020, 02:29:06 PM

....There are literally no marketing done on bitcoin itself, nor on blockchain, since we are decentralized bitcoin is not anyone's so nobody takes up that bitcoin marketing and adoption work to themselves.

That is the fact. So that inaccurate information, such as the misuse of bitcoin for illegal actions, money laundering, black market, fraud, etc. makes the public view of the crypto world worse. Even though it's just an exaggerated problem. Behind that, the benefits offered by bitcoin are huge, this is technological progress. So only people who truly want innovation and change will realize this. As time passes, I'm sure bitcoin can prove that the benefits it brings are greater, don't let us be part of those who regret having been late in realizing this potential.

jostorres

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The only thing that "stops" wide spread adoption is the pace, this is a technology and you do not have to spread any technology very fast if it is not really a life or death situation. For example a game comes out and no game is life or death, it doesn't need to be sold, it doesn't have to be bought, but you look at it and on the first day some games are sold over 5 million copies.

Do we have 5 million people dealing with bitcoin? Maybe we do, maybe its a bit more, but certainly it wasn't the first day we got there. Which means we need to do what games do in order to get adopted, in order to get used by more people; marketing. There are literally no marketing done on bitcoin itself, nor on blockchain, since we are decentralized bitcoin is not anyone's so nobody takes up that bitcoin marketing and adoption work to themselves.

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Quote from: Crypto_lion on May 19, 2020, 03:27:01 AM

No that is not the reason which is preventing the use of the blockchain it's about government regulations and many projects don't feel the need for blockchain and decentalisation right nowm

But the cryptoworld has become a big market already. .if you look at the market now based on https://coinmarketcap.com/ only, total marketcap is over $250 billion, that would obviously tell that people wants blockchain because without their interest, the market will not grow this fast.

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Quote from: suryapro on May 17, 2020, 01:46:36 PM

to be fully used in governance about Blokchain technology for governments must go through a joint meeting in all related institutions. because changing the government system is not as easy as we think

The transition from the traditional system to the blockchain technology is almost impossible to be done in all of sectors. It can be done easily in the financial system but it's not for the rest.
The correlation between each institution is very strong to determine the output and i think this will not happen in short time.

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No that is not the reason which is preventing the use of the blockchain it's about government regulations and many projects don't feel the need for blockchain and decentalisation right nowm

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Quote from: crypto1010 on May 16, 2020, 06:51:08 AM

One of the reasons why blockchain technology is not being widely used in the government and business sector is because of its anonymity. ,,,,

Wait, we have to get this straight. Blockchain is very useful to increase effectiveness and speed up the work process, so as to increase the efficiency of time and effort. So that it is currently widely applied in several companies, including banks. Maybe what you mean by anonymity is cryptocurrency? in fact, cryptocurrency is built on a blockchain network, and what a blockchain can do is not just the cryptocurrency threshold.

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Quote from: crypto1010 on May 16, 2020, 06:51:08 AM

One of the reasons why blockchain technology is not being widely used in the government and business sector is because of its anonymity. Guys just don't know who's doing what and people are scared about it. Blockchain is still an unfamiliar technology when it comes to regulation. We trust the cryptography, the protocols, the software, the computers, and the network, but this trust must be embedded in larger governance systems.

There are making some developments every day that will gonna change people their perspective about blockchain technology. that good thing right now is, there are lots of courses to choose from when it comes to blockchain technologies. the next generation of students who study it will become one of the major contributors to its development in the coming years. In our country only, there are some students who manage to win some awards on blockchain technology competition. incoming years there will be lots of competition like this will occur that leads to blockchain technology become one of the trends in the world in the years to come.

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Quote from: HodlerKing101 on May 16, 2020, 09:19:48 PM

Quote from: hushpupppy on May 16, 2020, 07:32:34 PM

I do not agree with you, there are widespread adoption of crypto currency already across several nations, and the core reasons why it seems otherwise is that not all government have legalized it.

But to my believes, government quiet about crypto currency and blockchain are excited ethusiasts.

But one of the biggest countries which U.S, are not really believers.

Claiming that the US is not a believer of the blockchain is wrong in all perspective, the US is just a cautious nation, and this is evident after a second exchange platform got license to enable trading ethereum futures.

One thing to make wide spread adoption convenient and safe for all nations, is to have a supervision team to look over whoever is creating a dex or cex exchange for citizens, put that under supervision and frauds would reduce drastically.

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Quote from: EdvinZ on May 18, 2020, 04:39:43 AM

I think that it can't be that some technology suddenly quickly replaced all the old systems in the economy, management, etc. This is a very long process. Everything is complicated. In addition, the new is not always better than the old. Modernizing the state infrastructure is a very serious process. It's not as simple as releasing the next model of iPhone.

We should not be talking here of replacing the system because eventually the government will approve blockchain and though blockchain will be widely used, the current centralized system will still be dominant as its controlled by the government, worse possible scenario is that the decentralized market will slowly transform into a centralized one since it's regulated by the government where they can monitor and control the law.

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I think that it can't be that some technology suddenly quickly replaced all the old systems in the economy, management, etc. This is a very long process. Everything is complicated. In addition, the new is not always better than the old. Modernizing the state infrastructure is a very serious process. It's not as simple as releasing the next model of iPhone.

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Quote from: bitgolden on May 18, 2020, 03:22:35 AM

There could be multiple reasons for blockchain is not hitting yet main stream adoption levels but one prime reason must be lack of awareness. Most business are awaiting for "reviews" from others before adopting blockchain technology even they are well aware of it. So, other than lack of awareness, fear factor to adopt new technology is playing a major preventing role here. It will take more time as we cannot expect technological revolutions to happen in lightning speed.

In my opinion, nothing is preventing wide-spread adoption of blockchain technology. Yes, I do see it is slowly getting spread everywhere. We must take time to evaluate blockchain technology to fix all its pitfalls because directly implementing it into high level/sensitive business might end up in disasters. So, slow and steady will win here as well.

I believe in multiple reasons too, but probably the main reason is that majority of people don't know about cryptocurrencies, and many more do not use any cryptocurrency! I think that small business should start this practice and people needs to follow, if that happens with many people government regulations can't hold long! Power is in the people, not in few people, when we unite and overcome our differences we will have a mass
adoption.

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There could be multiple reasons for blockchain is not hitting yet main stream adoption levels but one prime reason must be lack of awareness. Most business are awaiting for "reviews" from others before adopting blockchain technology even they are well aware of it. So, other than lack of awareness, fear factor to adopt new technology is playing a major preventing role here. It will take more time as we cannot expect technological revolutions to happen in lightning speed.

In my opinion, nothing is preventing wide-spread adoption of blockchain technology. Yes, I do see it is slowly getting spread everywhere. We must take time to evaluate blockchain technology to fix all its pitfalls because directly implementing it into high level/sensitive business might end up in disasters. So, slow and steady will win here as well.

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I will start by saying that the government likes controlling things and private informations is among thus they hardly will be part of anything they can't control. So indirectly, it might look like they are restricting the growth and wide-spread adoption of crypto but it's a matter of time for more people to start assuming control over their private details, understanding and using crypto more, then leading to the required adoption. Also, what to understand is, a good number of people in the crypto space are not afraid but instead happy that they can move funds in an anonymous way , at a lower charges, faster and efficient way than the current financial systems and that is enough to keep the ball of crypto adoption rolling.

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I think that anonymity is basically what drives people to care more about Bitcoins and cryptocurrencies rather than the fear of it. Sure you can say the mainstream financial sector and governments does not have any use or little use of it now but you can see that many people are using Cryptos and also other industries uses the blockchain technology without any hesitation. It is just a matter of time before mainstream economy would finally recognize the importance of the technology and be able to adopt to it.

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to be fully used in governance about Blokchain technology for governments must go through a joint meeting in all related institutions. because changing the government system is not as easy as we think

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Yeah basically there are some regulatory and taxation issues and those are complicated because crypto is generally anonymous and this complexity has put most governments around the world into confusion regarding crypto but i think all these things will be resolved and a good solution will come forward soon and we will move to mass adoption starting next year.

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The thing is that governments understand blockchchain technology and they really want it for their countries' growth. However, due to not able to control it which is resulting in tax theft and money laundering and not able to regulate it, they are not in favour of this technology.
Hope soon more countries will adapt it with their own regulations.

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Quote from: crypto1010 on May 16, 2020, 06:51:08 AM

One of the reasons why blockchain technology is not being widely used in the government and business sector is because of its anonymity. Guys just don't know who's doing what and people are scared about it. Blockchain is still an unfamiliar technology when it comes to regulation. We trust the cryptography, the protocols, the software, the computers, and the network, but this trust must be embedded in larger governance systems.

Hope you have read all the responses, first you need to study how the blockchain works, it is not about anonymity but the opposite what it does.
Think about what blockchain does, it is a record that cannot be manipulated or erased and if that is the case, how can you think about being anonymous Tongue

.

Quote from: FireBallex on May 16, 2020, 06:57:00 AM

I'm sorry to say that you don't understand the freedom that crypto gives its users, we are safe from government interference because of crypto anonymity, I'm able to have some money without the government knowing how much my worth is, I'm not scared of the technology like you claimed and I'm happy that Nakamoto created bitcoin

Government will always find a way to interfere in the market, the regulations are coming and there is no way you are going to hide from that. All the crypto exchanges will be regulated and if you are planning to use any, you need to verify your identity and every transactions can be monitored.
In future majority of all the scams and frauds that use BTCitcoin can be traced and that is what i am hoping.

Topic: Is this what's preventing wide-spread adoption? (Read 556 times)