Why everybody is doing blochain?
I feel the world is already doing good.
Our internet speeds are good, hospitals are doing good, insurance is working and so are the schools, flights and education
Why there is so much hype about blockchain and decentralization all of a sudden?
If insurance industry or banks are storing the transaction information in a central database/system and its been working fine so far and there is no double spending problem
, how would making it decentralized help so much?
Atleast from end user/customer it really doesnt matter as long as the information stored is accurate and transactions are going fine (which is already happening)
Agree that in the past, lot of hacking attempts happened (the big retail store credit card, credtit rating hacked etc) but these problems would still exist even if we do blockchain
May be I did not understood the concept of blockchain. Does anything changes drastically for me, the end user?
I would be still going to website to book my flight tickets or go to centers to write exams or get my insurance claims or be dependant on the banks for withdrawing my money etc
Please provide any links or articles to read which explains it in layman terms on what is really changing and what the sudden splurge of devs/companies are really doing
I feel the world is already doing good.
Our internet speeds are good, hospitals are doing good, insurance is working and so are the schools, flights and education
Why there is so much hype about blockchain and decentralization all of a sudden?
If insurance industry or banks are storing the transaction information in a central database/system and its been working fine so far and there is no double spending problem
, how would making it decentralized help so much?
Atleast from end user/customer it really doesnt matter as long as the information stored is accurate and transactions are going fine (which is already happening)
Agree that in the past, lot of hacking attempts happened (the big retail store credit card, credtit rating hacked etc) but these problems would still exist even if we do blockchain
May be I did not understood the concept of blockchain. Does anything changes drastically for me, the end user?
I would be still going to website to book my flight tickets or go to centers to write exams or get my insurance claims or be dependant on the banks for withdrawing my money etc
Please provide any links or articles to read which explains it in layman terms on what is really changing and what the sudden splurge of devs/companies are really doing
If you understand how banks are making money and what is the secret behind then you will say its okay. Actually there is no wrong in banks if it is just a facility of storing money but the big problem is on how they are earning using our money and how they are earning profits from just numbers without a physical money backing it. This technology , the blockchain technology is made for the purpose of transparency. It means that for example the 21 million of bitcoin, it cannot be duplicated nor they can create more coins to place in the circulation.
Of course there are both advantages and disadvantages on both side but is also good to have an option to choose from to break the monopoly.
