Where Will The Digital Economy Take Us? - page 9.

pinkflower

sr. member

Activity: 868

Merit: 259

Quote from: player514 on November 26, 2017, 11:43:01 AM

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

Lol, a side note: you're the guy who sold Spotify premium that stopped working right after. I didn't know any better because that was the first time I was posting on these forums and understand this whole new marketplace. I hope you were able to refund everyone.

In the next 50 years, BTC may be adopted. It may be dropped. There may be a new alt in it's place. We have no clue what it will look like in the next 50 years, if not the next 10. It's volatility makes it hard to predict where it runs. For now, I believe blockchain could be the future for the next decade or so.

But how do you define a blockchain? Is it a digital ledger secured by Proof of Work, completely permissionless and decentralized? Or is it something else like what the ICOs are doing? There is a big difference.

We must first know what a blockchain really is to predict its future, because in some definitions, anything can be a blockchain.

olushakes

sr. member

Activity: 476

Merit: 254

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

Everyday that we live and still realize blockchain is yet to fail, it shows the future is something to behold. It might look unattainable because of the myriad of challenges happening all over but the world is gradually changing where Central Banks are exploring new ways of making money available rather than the physical cash we all know.

This shows that as time goes on they would surely consider digital money but the fear is if they would allow bitcoin as against their own form of currency which won't be any different than what we have now.

Malaya

full member

Activity: 322

Merit: 102

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

This is quite exciting to imagine or think. Where will the digital economy will be in the next 50 years. That's a long timeline to think where. And it's actually a question of what and how. What will be happening that time that may affect blockchain techonology for it's best and how it wil be better adopt by people world wide. All I can say for now is that blockchain technology is doing well of introducing itself to people. The way bitcoin impacted the society and also how other altcoins is now being embraced by people. Maybe 5 to 10 years from now, these will continue to expand, we don't know. 50 years from now, digital currencies might be the new currency of that era. Might be also fiat money has extinguished in course of history.

kaya11

full member

Activity: 1344

Merit: 110

SOL.BIOKRIPT.COM

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

It will be either the beginning of struggles and chaos or blockchain technology have already lead us to a new society where in Decentralization will be respected and desired in all things. If this kind of technology will be used inside the government's usage of funds and financial statements, there will be no more corrupt officials as we can track all of their transactions. New inventions and innovations will be showcased based on on the Technology, seeing it right now I bet scientist and investors are already looking for alternative use of energy , as blockchain need very large amount of power supply(miners).

Chaos if the dirty government organizations make some moves and completely wipe out the technology but I guessed it will be very hard for them as it is already Integrated in most 1st-world countries.

Creepings

sr. member

Activity: 546

Merit: 257

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

I think there are a lot of improvements from the blockchain, not only that, I think in that span of time bitcoin is legalize in a lot of countries and being introduced to the block chain technology and trying to think and discover new possibilities with the use of the blockchain.

farhaan

sr. member

Activity: 392

Merit: 250

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

It would be ruling the world in many fields.Already,dubai government has implemented blockchain in all of its government sectors.Most of the banks have adopted blockchain technology though they consider bitcoin as their rival which works in that technology.Governments have decided to use it in various sectors like health sector,etc.In future,we would not be able to see any field which does not use that technology.It would be like how e-commerce came in early 90's when it was very new and later,it became predominant all over the world.

bitcoindusts

sr. member

Activity: 1092

Merit: 271

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

Blockchain will be used by different company, and by the government. I also believe that Blockchain technology will be developed to the point that everything in digital world will rely on it. Even though 50 years is too long, we can still project that this so called Blockchain technology will be the main thing when it comes to digital world. Adoption, development and application things that will greatly involved in blockchain for the next 50 years.

samcrypto

sr. member

Activity: 2044

Merit: 314

Vave.com - Crypto Casino

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

No one really knows, the only thing I'm sure with this define our future. Many businesses will surely use this great technology that can help us move forward and I also believe that digital currency will have a big impact on every economy.

Hydrogen

legendary

Activity: 2562

Merit: 1441

Like some said above, a lot can happen in fifty years. We could conceivably see quantum computers and quantum level encryption deployed within that timeframe. From history we can see that some inventions withstood the test of time. The mousetrap was invented in 1897 by James Henry Atkinson and is still in use today. It is plausible that bitcoin could have longevity due to it having limited supply which could allow it to retain its long term value better than alts with variable supply. Currencies with variable supply are prone towards being overprinted similar to fiat which could be a negative precedent over the long term. Bitcoin also may have better decentralization and development support. Bitcoin has advantages over other alts which could allow it to prosper and maintain its role as king of the crypto mountain over the next 5 decades.

Historically, there hasn't been much incentive for banking or financial sectors to produce innovation or progress. There may be a better likelihood of open source movements, independent developers or hobbyists producing whatever historical innovations we'll see in digital transactions over the next 50 years, than any real progress from the establishment or banks.

Gotomoon

sr. member

Activity: 719

Merit: 250

Well, this is hard question to answer to speculate what would be the blockchain technology in the next 50 years? 50 years is very too long maybe there will be new development on the economy system and ofcourse I think blockchain technology is well developed by that time. More adoption and huge users that causes of traffic of blockhain technology and I hope it will resolved by that year.

Sadlife

sr. member

Activity: 1400

Merit: 269

The blockchain will become the supreme way of payment for people that seeks freedom from their government controlled fiat currency. Decentralization will be a big hit in the up coming years thats why some governments tries so hard to ban or regulate it so they can regain control of their customers.

tomahawk9

hero member

Activity: 2086

Merit: 994

Cats on Mars

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

In a perfect world, in 50 years the blockchain technology (and Bitcoin) will replaced fiat money around the world (sounds more like an utopia, tbh)

unfortunately, the govt, central backs, financial companies, multinationals, etc, i don't think they're going to let a decentralized and unregulated system replace their fiat ponzi, they need to keep their profits going, otherwise, heads are gonna roll.

But 50 years is a long time, and realistically, maybe this technology won't replace fiat at all, but i'm 100% sure that blockchain technology will be adopted worldwide and Bitcoin will become a payment option for pretty much everything. But of course, the elite will put regulations and taxes on cryptocurrencies so they can profit from them.

Razick

legendary

Activity: 1330

Merit: 1003

This is an amazing question!

I think the digital economy (I think you are referring to cryptocurrencies?) and Blockchain tech are going to completely revolutionize how we do business, exchange money and more in the coming few decades. I mean do you even remember what is was like living in the late 90's? There were no GPS and everyone used maps - real physical maps to get around. Unbelievable that in just 20 years the whole world flipped upside down.

Now, Blockcahin will be the same. No one will need banks in the future because Blockchain and BTC will allow everyone to be their own bank. I can't wait until this happens!!!

Anonylz

hero member

Activity: 2562

Merit: 577

I dont know, nobody knows what is going to happen, it is very unpredictable. But we all know that all this system is going to revolutionate a lot of things in the real world, on the real economy of course.

All those who are saying that bitcoin is super inflated, and that the price is unreal, let me tell you that the price is only built on the money that people have invested during the last few years/months/days.

So if it is high, then it means that it is because people are now trusting a little bit more than before.

And it can keep going up, only that it will take some time to see it happening, as it has always did, but the money revolution... hmm that will take some years, maybe decades to happen.

cryptocrusher

full member

Activity: 420

Merit: 136

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

It's really hard to tell, it will either reach its max adoption and then decline or it could continue to grow and flourish and really change the way the world works as we know it. Of course we all hope for the latter but it is really too difficult to know.

aardvark15

hero member

Activity: 1008

Merit: 510

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

Cryptocurrencies are going to take the third party out of banking in the future. We will not have to rely on banks to manage our money for us.

We will be able to transfer money, pay bills, and prepare for retirement without using banks as the middle man. There will also be multiple uses for the specialty altcoins as they go mainstream.

chiggz

sr. member

Activity: 434

Merit: 252

Though the time frame of 50 years is very high, I see that in the future more and more government bodies would be waiting to regulate Blockchain under their control. But on the positive side we should see more and more implementations of the technology in Banking, Finance, Stocks, Industries etc. I bet it should happen within the next 2 years or so. Seeing the genuine interest in this technology by such multi-billion dollar organisations and at the same time seeing multiple startups sprouting the future of blockchain is quite bright.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

50 years is a time frame that is too long, a lot can happen in that amount of time, even predicting what it is going to happen in the next months can be difficult, in that time a new technology could emerge or a war could break out and governments of the world will get a lot more tyrannical with their citizens and bitcoin will be banned, or maybe bitcoin becomes the dominant currency of the world, at the end there is no way to know.

player514

legendary

Activity: 1414

Merit: 1039

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

Lol, a side note: you're the guy who sold Spotify premium that stopped working right after. I didn't know any better because that was the first time I was posting on these forums and understand this whole new marketplace. I hope you were able to refund everyone.

In the next 50 years, BTC may be adopted. It may be dropped. There may be a new alt in it's place. We have no clue what it will look like in the next 50 years, if not the next 10. It's volatility makes it hard to predict where it runs. For now, I believe blockchain could be the future for the next decade or so.

webtricks

legendary

Activity: 1918

Merit: 1728

Quote from: 50ouncebrew on November 26, 2017, 03:18:51 AM

What will happen with Blockchain technology in the next 50 years?

Although for digital assets generated from Blockchain technology like Bitcoin and other coins, it is difficult to predict future due to their highly-volatile nature but Blockchain Technology individually is a horse of long-run.
Best sector where we can see Blockchain grooming is Banking. Few banks already adapted blockchain in their operations. Recently India's Central Bank is planning to launch financial model based on Blockchain. It is most economical technology when it comes to data remittance or transfers. Along with that, it can also be used to launch Bank-oriented Cryptocurrencies. Banks can offer their cryptocurrencies to users and it can upcome as new form of bank deposits. Also Banks can use them as security for taking loans from different sources.
(Are you thinking of E-Coin from Mr. Robot, no I am not talking about that. )

Topic: Where Will The Digital Economy Take Us? - page 9. (Read 1388 times)