Topic: What are the opportunities we have in blockchain? - page 9. (Read 1284 times)
From a practical point of view, blockchain is an opportunity for members of the community to direct their resources very quickly to those projects that seem appropriate with low risks. This is an alternative system for financing science, education, medicine, the social sphere, development not through trust institutions of experts, but through community consensus.
It’s true that this is obviously the future technology. Best things about Blockchain technology are – it is decentralized, there is no third party involved. Hacking is pretty much harder. So, it’s huge secured and Transparent. Cost will also be saved in this technology.
There are too many to mention. You can see it in the projects around the crytocurrency space. Even here on the forum, you can see that there are a lot of application of the blockchain technology. It is not merely limited to recording transfers of coins or tokens, it has a lot of applications in the real world scenario.
For example, it can be used in health care where you can record every details, tests done, previous histories, etc. of a patient on the blockchain, so when it is needed it would be easily be pulled out by any authorized personnel in any hospital or health care provider anywhere in the world. That is something that should be a million dollar idea, but it really needs more support. I forget what was the name of the project, which I saw around the forum. Maybe someone can supply the name here.
For example, it can be used in health care where you can record every details, tests done, previous histories, etc. of a patient on the blockchain, so when it is needed it would be easily be pulled out by any authorized personnel in any hospital or health care provider anywhere in the world. That is something that should be a million dollar idea, but it really needs more support. I forget what was the name of the project, which I saw around the forum. Maybe someone can supply the name here.
We have several opportunities with blockchain, such as Supply chain management, Quality assurance, Accounting, Smart contracts, Voting etc.
Only a few blockchains (from different coins) have the opportunity to create smart contracts. You can not create it on bitcoin.
Voting? Where have you seen that? It can only be created with a smart contract, so.. it can not get done with bitcoin.
Blockchain is not the only interesting technique of cryptocurrencies. There's the p2p networking, the actual cryptography, the consensus algorithms like proof-of-work and proof-of-stake, privacy features like zk-snarks and ring signatures.
Application of blockchain is so huge, that could find applications in any field, in my opinion, the most promising are finance, trade, security and medicine.
The biggest opportunity in blockchain is that security to our coin and money why. The blockchain has or using a 256 encrypted mix password or privatekeys. And base on my research it is not easy to hack and no one this earth can do it now. Maybe next few decades if they decrypt it.
Bitcoin isn't capable of most of these with its limited smart contract functionality, which is why it probably wont succeed as the number 1 crypto forever.
I think that most of these are covered by individual altcoins, but a truly functional smart-contract system would allow for all of these to be handled by a single coin, NEO and EOS are approaching that level of sophistication, ethereum is lagging behind.
I think that most of these are covered by individual altcoins, but a truly functional smart-contract system would allow for all of these to be handled by a single coin, NEO and EOS are approaching that level of sophistication, ethereum is lagging behind.
topic title is about "blockchain" not "bitcoin"..
but anyway it doesnt really need sophisticated smart contracts for the list i done.
also smart contracts are not about blockchain technology, but about transactional tech
sophisticated smart contracts can make things happen even if the owners node is switched off as they are self activating after the fact, on the network
however even just using
as for the future, ANYTHING is possible and the list would be too big to write
but here goes sticking purely to blockchain tech
sidechains - instead of one chain/archive of data. there can be many regional archives of data that are then archived by a ultimate chain
hashchaining - instead of blocks of transactions/ cleartext data, blocks of hashes which separately/offchain has meaning/utility
command chaining - instead of transactions. commands can be chained
avoiding 'currency' usage:
voting
law creation
land registry
identity
credit rating
school qualifications
manufacturing/supply control
asset audits
public notaries
patent timestamping
time limited licence application/renewal/acceptance
the list goes on
voting
law creation
land registry
identity
credit rating
school qualifications
manufacturing/supply control
asset audits
public notaries
patent timestamping
time limited licence application/renewal/acceptance
the list goes on
Bitcoin isn't capable of most of these with its limited smart contract functionality, which is why it probably wont succeed as the number 1 crypto forever.
I think that most of these are covered by individual altcoins, but a truly functional smart-contract system would allow for all of these to be handled by a single coin, NEO and EOS are approaching that level of sophistication, ethereum is lagging behind.
avoiding 'currency' usage:
voting
law creation
land registry
identity
credit rating
school qualifications
manufacturing/supply control
asset audits
public notaries
patent timestamping
time limited licence application/renewal/acceptance
the list goes on
voting
law creation
land registry
identity
credit rating
school qualifications
manufacturing/supply control
asset audits
public notaries
patent timestamping
time limited licence application/renewal/acceptance
the list goes on
One of the major advantages I think is not actually the payment system potential, but the functionality that smart contacts offer.
Bitcoin is definitely lagging behind in this area, as it will either require a few forks, or sidechain implementation to approach the smart-contract functionality offered by its rivals, but once it gets there, decentralized applications and decentralized file storage systems are only a matter of time.
Bitcoin is definitely lagging behind in this area, as it will either require a few forks, or sidechain implementation to approach the smart-contract functionality offered by its rivals, but once it gets there, decentralized applications and decentralized file storage systems are only a matter of time.
Now a days we have seen world is thinking about implementation of blockchain technology. Because it is one the secure technology in the world and it very much difficult to hack. Now lets talk about opportunities :-
Being a student we have to take Blockchain as an opportunity because it is in initial stage and development is running on it. For clearling opportunity concept i want to go to past when internet was invented, It was used in universities on single server and only those universities students could be accessed internet and then people came up with an idea Web2.0 and we would able to used host server for access websites from anywhere for example - I could easily browse internet website from far away place
NOTE - You know when internet invented it was decentralized
Now Block chain opportunities -
You know there are only few people who knows about blockchain technology and how it is technically work and how blocks are created.
Crypto currency is only one of the application that was gone viral in 2009.
blockchain can be used for maintaining the record on any person or any entity.
Guyz Share your thinking and idea so we can explore more about blockchain
Being a student we have to take Blockchain as an opportunity because it is in initial stage and development is running on it. For clearling opportunity concept i want to go to past when internet was invented, It was used in universities on single server and only those universities students could be accessed internet and then people came up with an idea Web2.0 and we would able to used host server for access websites from anywhere for example - I could easily browse internet website from far away place
NOTE - You know when internet invented it was decentralized
Now Block chain opportunities -
You know there are only few people who knows about blockchain technology and how it is technically work and how blocks are created.
Crypto currency is only one of the application that was gone viral in 2009.
blockchain can be used for maintaining the record on any person or any entity.
Guyz Share your thinking and idea so we can explore more about blockchain
Jump to: