Topic: The long term impact of cryptocurrencies and blockchain on Society (Read 462 times)

To me the benefits of these technologies are way bigger than the possible drawbacks it might create. Voting was mentioned in the thread and it's a really big deal, let's hope blockchain will control every elections in the coming years.

Bitcoin is on its own is paramount, liberating us from banks. We are witnessing the birth of decentralized applications and I'm pretty confident we will have some incredible platforms.

Another key topic is governance, DAOs are fascinating. Aragon and other protocols could create autonomous organization that weren't possible before. In this spirit we can quote the digital governances happening for different projects like Dash or Elastos with its Cyber Republic.

All of this is mindblowing, what are the most exciting usecases you saw ?!

Crypto can change the coming future a whole lot, but yes, it isn't the answer to every problem.  It's applicability and sustainability in any system or network of systems is what will drive the mainstream to finally see and understand that the blockchain is here to stay and the numerous  benefits that come with it cannot be overemphasized.


My thoughts exactly. Mainstream will always have a problem with using what they do not understand. If I do not understand the functionalities blockchain provide, how am I then supposed to gain adequate knowledge to operate it?  I think what would drive mass adoption is blockchain being run on backgrounds of applications and networks the masses already frequent

It depends who is running what blockchain..   Take TEZOS for instance they promised we was going to the planet Mars  ..
Now i see Tezos building plenty of software wallets BUT trying to get to Mars on pogo sticks  ..

So really Tezos is bouncing up and down with software wallets trying to reach MARS ..I bet not much of an impact will happen with the TEZOS at all ..
The only impact i see is the founders and pals making monies for them selves and that will impact their lives very much  well they be rich nice impact on their futures ..

So if i learn how to make a crypto token does that mean i can produce my own money?..What would i sell ?  the same as everyone else BULLSHIT ..
Oh i would sell you       we are going to SATURN on a space boat ..

Collect all the ICO then spend some on real science not caring if it fails because i get my cut no matter what happens this is a great way to make money off bullshit..

To have an impact with crypto the one thing you need is the masses using it   AND why are they using it?  i see they are using it right now because someone payed
1 cents for how many bitcoin?  now the bitcoins are worth how much .. Just like the gold rush..

I find it very funny that we can now make are own monies if we know how to code..

Have you all seen this below?..

David Chaum, who gained fame for constructing a digital currency long before Bitcoin, has emerged to introduce a new platform, Elixxir, at Consensus Singapore. He claims Elixxir will be able to process thousands of transactions per second.

David Chaum, widely seen as the inventor of digital cash, and a well-known advocate for blockchain technology, is now ready to unleash a new platform he claims can churn through thousands of transactions per second.

According to the Wall Street Journal, Chaum’s Elixxir platform produces blocks first and then sees them filled up as transactions are recorded, cutting down on processing time.
Chaum says the overall system processes and stores less data, which lessens potential security vulnerabilities and slashes the amount of required energy.


I think David Chaum as missed the point of blockchains   BUT now he makes a token that can now be a CRIMINALS DREAM ..
Hide all your ill gotten gains in his token perfect for gangsters  bad governments all sorts of bad shit..

BUT i suppose you wouldn't care if your rich as most rich don't till they get ROBBED ..

Cryptocurrencies and blockchain has contributed tremendously to our individual lives and to our societies at large. The incalculable impact of cryptocurrencies and blockchain to our society cannot be over emphasized. A lot of lives has being comprehensively transformed through the application of cryptocurrency and blockchain.  
 

This is what I believe and did so years ago when I discovered bitcoin. Back then we just concentrated on the financial aspect but now we are integrating blockchain into many different systems. My personal favorite is voting. I always felt that votes can be tampered with, whether they are being collected in Africa, Russia, or the US. Any sector where we need to trust a human being is where we should be putting a blockchain solution. Soon we will be living in a trustless society and I can't wait for this to happen.

Blockchain and cryptocurrencies is an inevitable cause of society. People resent being dependent on basically uncontrollable structures for their well-being. It's only natural that there would be a movement to change this once the technology is there.

There are more people being oppressed than there are doing the oppressing. Strength in numbers.

People will feel empowered, corruption will go down, and the details of our life will become even more digitized than they already are.

Very true blockchain is not ultimate solution for everything. But, Blockchain and cryptocurrencies can be make good impact in technological part on society.

Long term impact should be good. When we see many government have positive movement in digital currency and blockchain, when we see many top bank going accept digital currency, when we see big company and top level currency make partnership each other. so we can hope it, Overall crypto and blockchain can be be positive impact in our society.

Definitely there have many part for improvement in current blockchain technology. Like giant company facebook, google when they start positively think about blockchain although they may start and we can find more good solution through blockchain technology which can be good for us.

Crypto currency is here to stay, needs to become much easier and UI will develop to achieve this. What I am most excited about is the future of blockchain technology, this is once in a generation tech and the possibilities are near endless. Finance, voting, medical records, land registration are just a few examples of uses for BC that will be huge.

Governments will no longer be able to tamper with polling!! Could spend all night debating what that would have meant over the years.

Society may take a while to fully accept crypto and blockchain but be assured they will and us early adopters can swagger about saying "I told you so".   

I really think that the control of masses with respect to the financial system is totally wrong, there is a lot of ignorance in people regarding the economy, if they knew the magic of Blockchain and the surprises that have these would change the world from one day to another but it is not so, they are governed by the current financial systems, although there is a small mass that has great confidence in the whole field of technology blockchain and cryptocurrencies

Cryptos are here to stay and they’ll upset our habits -in a good way. The technological innovation can no longer be ignored. There are multiple fields where cryptocurrencies have shown tremendous potential. Overall, it will change the way we think about the financial system, and it will most certainly change the way handle our finances. Payments and transactions will be more efficient, without us having to worry about a third party or middleman.

The argument for legalizing bitcoin it is much stronger as long as people use it legally then I don't see a reason to take it away. The long term impact of crypto-currencies and block chain on society is as when u take away a fun way to bet and make money when you're lucky then your frustrating a lot of good people who are using it correctly. Find a way to stop people from doing something illegal.

that will be a easy money for the banking industry

while mentioning the positive impact of crypto currency on the society, we shouldn't forget the negative impact it has or will have too, now we are talking p2p, thereby eliminating completely the third party, this is very good for business, it reduces overhead cost, but on the other hand it may also creat unemployment, and also, some individuals who are not ICT inclined may be left behind, unattended to, unable to access the enending gains of the blockchain technology.

One thing I think we will definitely see is the mass adoption by Fortune 1000 companies of blockchain technology where it is relevant (for likely multiple times when it is not). There are too many advantages of blockchain for companies to not use them for some purpose.

If large companies use blockchain, their employees will be using blockchain and the credibility those big companies have will be conferred to blockchain technology.

The acronym "ICO" will remain tarnished in the same sense that "payday loans" or "credit default swap" were tarnished by a series of scams. But like payday loans and credit default swaps, they will not go away.

Once credit card companies feel that the SEC won't bite them, they will make the transfer of cryptocurrency as easy as a credit card which will increase adoption.

But none of the basic inequalities among humanity will change because a blockchain is created.

The difficulty of understanding cryptocurrency will continue to confer an advantage to the technical "haves" just as the stock market confers advantages to experienced stock traders.

In the way that every job today has the word "digital" behind it (says the digital marketer), we will see advertisements for "blockchain-versed accounts" and "blockchain-versed salespeople" and possibly even a "blockchain-versed cashier."

It is not appropriate to “decentralize” everything. Exchanges, for example cannot realistically be decentralized because doing so would transfer credit risk to market risk resulting in delays and failures of trades (among other things).

The same is true for many manufacturing processes as having one entity responsible for the end product will ultimately mean less total losses from defects.

“Blockchain” is also not a magic word that will solve all of the worlds problems. Nothing about Blockchain technology can prevent famine, extreme poverty and natural disasters.

Blockchain technology will most affect financial services and the transfer of property. There are still improvements needed for Blockchain technology to have a maximum impact, for example there needs to be a better way to place (and enforce) liens on property; smart contracts somewhat solve this, but more work is needed. I believe the transfer of shares/stock will be most affected, including the ability to raise capital in a transparent way; we are already seeing this via ERC20 tokens.

The long term impact of cryptocurrencies and blockchain on society may give a positive and negative effect. There where now many positive impacts that have been occured in many people because of cryptocurrencies , they have change their lives because of cryptocurrencies , they earn a lot of profits from it. And there are also negative impacts that people experience in cryptocurrencies , they have lost a lot of money through investments in cryotocuurrecies.

We cant really talk about the long term effect as we don't know when/if it'll ever be adopted by the masses.

The whole 'industry' needs to grow up a lot and i think its a long time away personally...if at all.

Longterm i think Bitcoin is always going to be around. Any other crypto is going to have to have a real good use case and need for the actual token!

I think it is for us to design and implement solutions which are more customer friendly than e.g. crypto wallets. Where Blockchain is used, it will will probably run in the background for most of the cases. Either tech freaks or tech averse people should both be able to use new technologies, therefore, blockchain need to be integrated step by step, in a user-friendly manner and should simplify process not making them more difficult.

I think a bigger challenge is the possible amount of job losses due to automatization, the digital identity (securing / controlling your own data) and IT security in general, if we depend so much on tech.

The long term impact will be pretty negligible in my opinion. The banks already use digital currencies, so all they will do is to change the software and the name. This will allow them to dump their debts.

Indeed, this long-term method is also at risk of profit / loss because each coin has advantages and disadvantages of each so that there is a possibility that the coin will rise but it is also not impossible if the coin is destroyed because it does not sell,
thank you

It all depends on what the blockchain does and why the masses will be using it..
If it's about trading lies and false promises then i cannot see it lasting long like the Pyramid scam game  because in the end the many will be stuck with worthless computer
screen digits that do nothing except fall in price because the devs have had their fill..

Go down the shop and ask them to take your crypto   they will tell you to go away and then say cash or bank digits please..
So what impact without crypto is the world going through at this present time?..Then if you solve it  THEN you solved why blocckchains will be good or bad on society ..

One thing I would not hesitate to say is that crypto or blockchain is the reason we are on this page. It has created a community of like minds. However, like every other thing as someone already commented, it has the negative and the positive side. As long as it involved technology, not everyone will know how to use it or accept it. The good thing first is that it has created an industry for itself and provided endless jobs opportunities for many. with it discoveries and solutions are gaining grounds every day. smart contract has come to serves us money spent on third parties and also help executes agreement terms without taking side or playing favouritism. It is just good that it cannot be overemphasized.

Yes it will be long or last as long as we believe on.beside a lot of new comer every day, to explore ans study cryptocurrency. A lot more establishment now accepting crypto. To exchange with goods. The impact maybe slow but i know we will hug it.

there will be of course negative and positive impacts.

every individual is forced to do the right moves to protect themselves from the negative impacts it might even lead to violence or communist style oppression in the before known western world

As an honorable member of the community suggested it, we should have even more meaningful exchanges in this section. So here is the thought that intrigues me recently: what kind of changes the decentralized era can make in our world?