New technologies and businesses | Bitcointalksearch.org

eaLiTy

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Quote from: joulion86 on April 18, 2018, 05:30:48 AM

Which businesses do you think are in danger because of this new technology?

The only thing i expect is rapid change in the banking system, all of the examples you said were good and none of companies that did not evolve will be left out, i am not sure what will be the future scope of payment system like paypal would be when there is a mass adaption of bitcoin and some of the payment solution right now will be the thing of the past moving forward.

Quote from: Baofeng on April 22, 2018, 12:26:10 AM

Sadly though bitcoin has turned out to be a store of value or investment portfolio specially when institutional investors came in.

We have not seen much of an investment from institutions around the globe at this moment, later on we would see massive investments that could take the price to the next level.

Quote from: Baofeng on April 22, 2018, 12:26:10 AM

Let's see how it goes, if it can disrupt or at least take a slice out of the payment processing industry, or any other payment business processing model. Imagine online stores and merchants accepting bitcoin as payment system how disrupted in can be against with the likes of Paypal, or sending money across the globe in a instant, how will Western Union react?

As i said earlier if there is a mass adaption sure they will be out of business in the future.

Baofeng

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Quote from: joulion86 on April 18, 2018, 05:30:48 AM

100 years ago, citizens didn't complain about smog and lack of parking spots, but about horse dung and sometimes even the smell of dead horse carcasses in the streets. If you had a carriage company back then and heard about combustion engines that will replace the horse, you would have thought: No way! After all the horse has been the best transportation method for thousands of years. 20 Years later, horses were banned from the streets and cars replaced the old technology, except for rural areas to nearly 100 percent.

Once Kodak was one of the most successful companies that produced cameras. Why? Because they were investing into color film early when everyone else believed in black and white films. Ironically, one of their engineers developed the first digital camera. This technology was not invested in. Today, the digital camera is norm, and Kodak is out of business.

One of my favorite example, how a successful company overslept a technology or trend they invented themselves is Blizzard: A user built map was extremely successful, and Blizzard executives should have realised the potential to make a new game out of it. They didn't until way to late. Dota and League of Legends have grown beyond any games Blizzard ever made on their own, and when they tried to jump the train with Heroes of the Storm, but then it was way to late.

Companies that went out of business because they didn't realise a new technology are countless. Think of Nokia, Blackberry, Pan Am, Polaroid etc.

Here comes the Bitcoin, redefining how a transaction of money should look like:
- secure
- without fees

Which businesses do you think are in danger because of this new technology?

Obviously it will be the payment schemes or remittances services like Paypal or Western Union if bitcoin will grow to be the payment method that Satoshi as originally envisioned. Sadly though bitcoin has turned out to be a store of value or investment portfolio specially when institutional investors came in.

Let's see how it goes, if it can disrupt or at least take a slice out of the payment processing industry, or any other payment business processing model. Imagine online stores and merchants accepting bitcoin as payment system how disrupted in can be against with the likes of Paypal, or sending money across the globe in a instant, how will Western Union react?

obinine

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@OP, you seem to have some valid points. You have carefully analyzed the state at which we are the future implications.
Little wonders, wise individuals will advise anyone who cares to listen to invest in bitcoin and other crypto currency as bitcoin is the future. Bitcoin presents to any individuals a lot of possibilities and horizons for both a country and a lot of corporations and institutions. Having digital currency and control of the crypto currency market gives a series of flexibility and opportunities that open wide to both the consumer and the producer. Hence, making everyone to benefit alike from it both in the short term and long term. This can save you a lot of money and earn you more because of the number of persons that are using it.

Jlimao28

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I call our generation right now as "Innovative Era". Technology has a significant role in our society right now. Artificial Intelligence, smart cities, augmented reality, wireless charging and facial recognition, these are just a top trends technological advances in 2018.
We are really different from the past and blockchain technology helps a lot to build our future, to enlighten the next generation and to make an economy with fully developed and stable.
The journey for technology and businesses are just beginning, we should invest today for our brighter tomorrow. Bitcoin and cryptocurrency are the future of economy.

mammothine

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Quote from: joulion86 on April 18, 2018, 05:30:48 AM

Here comes the Bitcoin, redefining how a transaction of money should look like:
- secure
- without fees

Which businesses do you think are in danger because of this new technology?

Not just cryptocurrency, but smart contracts change everything. Pretty much all of western civilization. Any money transfer business if it doesn't play, will be fucked. The CC industry, unless it supports crypto, will be fucked. Any industry that is digital and centralized and handles personal data, could be fucked. Government could potentially be fucked. Lawyers will need to adapt or, you guessed it, fucked. Insurance. Healthcare. Education. All can be improved via this tech, and for the betterment of society, hopefully.

trecore4

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Quote

Here comes the Bitcoin, redefining how a transaction of money should look like:
- secure
- without fees

Which businesses do you think are in danger because of this new technology?

I assume its the financial institute and banking sectors which are in trouble right now. I also think that blockchain will replace many businesses where the money stuff is related, where there is need of security for the purpose of keeping your money. The time will come when there will be the vaults based on the blockchain technology and then big people will start using it. They will never ever look back into digital storage's made by banks or other financial institute to save their money. I am also thinking that their will be digital vaults to keep your important documents in the form of digital copies which you can carry everywhere and with at most security.

just_strange32

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In the path of development, a company or organization will be rejected if it does not meet or is not in the right direction. Modern technology requires everyone to be prepared and adapted. Businesses are aware of and pay close attention to modern technology. Advantages: Safe, free when using Bitcoin, the benefits belong to the users that the same company strives. This is the future.

realcrypto

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Most companies, industries and platforms will go out of business if they fail to follow the trend of the financial technological advancement that is taking place now especially our traditional banking section.

chillitabit

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Quote from: joulion86 on April 18, 2018, 05:30:48 AM

100 years ago, citizens didn't complain about smog and lack of parking spots, but about horse dung and sometimes even the smell of dead horse carcasses in the streets. If you had a carriage company back then and heard about combustion engines that will replace the horse, you would have thought: No way! After all the horse has been the best transportation method for thousands of years. 20 Years later, horses were banned from the streets and cars replaced the old technology, except for rural areas to nearly 100 percent.

Once Kodak was one of the most successful companies that produced cameras. Why? Because they were investing into color film early when everyone else believed in black and white films. Ironically, one of their engineers developed the first digital camera. This technology was not invested in. Today, the digital camera is norm, and Kodak is out of business.

One of my favorite example, how a successful company overslept a technology or trend they invented themselves is Blizzard: A user built map was extremely successful, and Blizzard executives should have realised the potential to make a new game out of it. They didn't until way to late. Dota and League of Legends have grown beyond any games Blizzard ever made on their own, and when they tried to jump the train with Heroes of the Storm, but then it was way to late.

Companies that went out of business because they didn't realise a new technology are countless. Think of Nokia, Blackberry, Pan Am, Polaroid etc.

Here comes the Bitcoin, redefining how a transaction of money should look like:
- secure
- without fees

Which businesses do you think are in danger because of this new technology?

very wel written! The answer it banking system as we know it. Where the banks are manipulating the whole industries thanks to their power and access to wealth. Let's hope bitcoin can change that

LanzCoinPress1994

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Quote from: joulion86 on April 18, 2018, 05:30:48 AM

100 years ago, citizens didn't complain about smog and lack of parking spots, but about horse dung and sometimes even the smell of dead horse carcasses in the streets. If you had a carriage company back then and heard about combustion engines that will replace the horse, you would have thought: No way! After all the horse has been the best transportation method for thousands of years. 20 Years later, horses were banned from the streets and cars replaced the old technology, except for rural areas to nearly 100 percent.

Once Kodak was one of the most successful companies that produced cameras. Why? Because they were investing into color film early when everyone else believed in black and white films. Ironically, one of their engineers developed the first digital camera. This technology was not invested in. Today, the digital camera is norm, and Kodak is out of business.

One of my favorite example, how a successful company overslept a technology or trend they invented themselves is Blizzard: A user built map was extremely successful, and Blizzard executives should have realised the potential to make a new game out of it. They didn't until way to late. Dota and League of Legends have grown beyond any games Blizzard ever made on their own, and when they tried to jump the train with Heroes of the Storm, but then it was way to late.

Companies that went out of business because they didn't realise a new technology are countless. Think of Nokia, Blackberry, Pan Am, Polaroid etc.

Here comes the Bitcoin, redefining how a transaction of money should look like:
- secure
- without fees

Which businesses do you think are in danger because of this new technology?

Hi!

I would like to prefer the word called "New Era" instead of the danger of business. The technology based on bitcoin shows the next level of the transaction. Blockchain technology already implemented in many industries. Without stagnant, this technology shows a real-time result. Centralize business models not able to survive with new technology. Many Industries which act as a middleman in transactions will cut from society. Also, this will help to reduce thousands of paper works in administrative units. But People may think new technology will lose their jobs and business. But it is not, because of when electrical machines came to the world that makes thousands of new jobs. Same as this technology will remove the traditional business but also that will create thousands of new opportunities.

Thanks For Attention
Have A Nice Day!

taiwww

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I wish I could have supported this one but bitcoin is really not the thing which is capable of replacing anything today or tomorrow. I mean fiat would have been replaceable if it would have been lacking few characters that are represented by the bitcoin. I mean technological advancement would be when the few things are more upgraded in the newer version. Also, bitcoin has come out of the blockchain technology which itself a whole new world and doesnt rely on the real world. In here we have swift technology, using which todays international transfers are done. They are fast, secure and does take more precautions! So whats the new in blockchain and its not even recognised legally in many countries to get the global status. Isn't those are the points that can keep the bitcoin down the line no matter what advances it gets.

yugyug

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I see no business that put into danger when some new technological breakthrough is introduced despite it it gives a greater benefits to adapt that technology and make their business grow and expand. They only danger with the business if they don't put in mind this big "C" a thing called change if they can't make a change then they will be a prison of their old fashioned process just like Kodak and Nokia for example and be left behind and it is too late to play in the new game scene. The only danger that i can see with this new technology is the gradual extinction of human labor.

lmodric

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I think that if the government and conventional banks do not want to adopt the technology then those who will be in disadvantage.
Bitcoin is just like a horse that will be shifted in the future.

sandor111

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Some industries and companies will adapt and transform themselves, maybe find different niche or even incorporate blockchain technology into their business. Other will try to fight against bitcoin and blockchain but that will most likely backfire to them and they will lose the battle.
Beside the obvious sectors like banking and traditional stocks market, there are also other companies that will be affected by takeover from blockchain, for example credit card providers like MasterCard, prepaid coupons for anonymous payments like PaySafeCard, Neteller... Big data analyzing companies...

m.mendoza

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Quote from: googs84 on April 19, 2018, 04:17:23 AM

Thats a good example of "transformation of things!"

Its all about the trust that you put into the technology which takes it to the next level. There will be light today, there will something different tomorrow and this is on going process and the techs will keep rising all the time.

The same thing is happening with the BTC as well. Its new ray of hope where fiat has to get replaced some day with such new techies, but I am sure the timeline that will need for this transformation would be more than 10-15 decades from now as we dont really need it right now. Its like having the digital camera when black and white is the most famous one as you depicted in your example up there.

Lockchain is a scattered dispersed database; Computers continuously carry out independent audits by verifying incoming data and comparing them with the signature of the transaction. New technologies will come up yearly thats why there are always upgrade in every technologies. Same with business if the technologies update and upgrade same with business you can be updated unless you upgrade also with the new technologies.

fiulpro

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I think the banking business , the stock shares , the gold business all these things are kind of being affected by it .
If someone has to do transactions overseas why pay extra taxes and stuff when you can easily transfer the money through the Bitcoins.
It's more feasible .. also no stock shares give the same amount of profit as in the case of Bitcoins I do think that... All these things are getting affected somehow ..but that too is good for the consumers.
We are getting more in hand profit and nothing is meddling between.

eternalgloom

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This is probably not going to happens any time soon, but I do really believe that many financial institutions are going to have a really hard time in the future if they do not adapt.
I've always really like the catchphrase "Be Your Own Bank", that sums up my thoughts perfectly.

This isn't going to happen suddenly of course, but I reckon we'll see people abandoning traditional banks some day in the far away future.
Maybe not directly because of Bitcoin, but likely because of something that's inspired by Bitcoin.

googs84

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Thats a good example of "transformation of things!"

Its all about the trust that you put into the technology which takes it to the next level. There will be light today, there will something different tomorrow and this is on going process and the techs will keep rising all the time.

The same thing is happening with the BTC as well. Its new ray of hope where fiat has to get replaced some day with such new techies, but I am sure the timeline that will need for this transformation would be more than 10-15 decades from now as we dont really need it right now. Its like having the digital camera when black and white is the most famous one as you depicted in your example up there.

Fairy_90

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Simply put, the new blockchain technology is an electronic ledger that stores transactions, agreements, contracts, and any data that we need to independently record or verify the existence of. Its not the same way as transactional storage, the usual data when data is stored centrally in a third party database that we trust to ensure the authenticity of that data, When using blockchain, these data are updated on the peer-to-peer network of all users in the same network. That is, everyone on the same network will be able to know all. transaction information, will verify and record that transaction in the ledger and then distribute this data to the Other features. Lockchain is a scattered dispersed database; Computers continuously carry out independent audits by verifying incoming data and comparing them with the signature of the transaction.

jseverson

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Quote from: joulion86 on April 18, 2018, 05:30:48 AM

Here comes the Bitcoin, redefining how a transaction of money should look like:
- secure
- without fees

As much as I agree that Bitcoin can disrupt the current way we do things, it does have fees. The goal is for those fees to be negligible, and while it currently is, that could change in an instant if the scalability issue isn't addressed. I would also contest security as a strong selling point because while it could be more secure, it could be more vulnerable than traditional banking storage in some instances.

If I were to point out qualities that could disrupt the system, I'd say decentralization, because nothing other than other crypto can boast that quality, and convenience, because you're able to send any amount anywhere cheaply and nearly instantly.

Topic: New technologies and businesses (Read 281 times)