Topic: Will Blockchain revolutionise more than the financial industry? (Read 424 times)
I think I have read about using Bitcoin technology to create a better system for the health care sector in the UK. Bitcoin will be a perfect solution for recording and sharing patients' data between different care providers and making the data tamper-proof so as to ensure patients safety and avoid unethical medical practices. Here is an article about that topic if you want to know more about this: http://www.ibtimes.co.uk/gem-prescribes-blockchain-solutions-healthcare-sector-1548862
it has been discussed a lot here, this is not a new thing with banks and other financial institutes. they are just interested in the blockchain and not bitcoin. but whatever they do it is not going to have any effect on bitcoin.
and also as others have mentioned, what they do is a complete centralized thing which will only benefit their closed system.
and also as others have mentioned, what they do is a complete centralized thing which will only benefit their closed system.
Public blockchains enable publishing. When I make a publicly verifiable transaction on the bitcoin network, it is just publishing that the coin is now held by a new address.
That's the idea behind a blockchain. Making it private, or closed is counter-intuitive.Exactly. It is really unbelievable to see how bankers try to employ some buzz-worded "blockchain-technology" for any use case that pops up into their minds irrespective of the efficiency of the solution. Most of banker's blockchain use cases can be served by traditional data banks much more efficiently. The simple reason is that bankers consistently renounce the most important aspect of the Bitcoin blockchain: decentralization. If you want a centrally controlled service, there is no advantage of using "blockchain-technology" over a simple data bank.
What I see happening here is that they improve their services with a closed blockchain (or with multiple blockchains) which will cut down their cost, but I think that this will have a great effect on the customer. Even though a closed blockchain does not have intrinsic value as its main aspects are lost, it does have a much greater potential than the systems that are already in place. Just think about Visa. Look at how long it takes them to completely settle transactions and compare those times with Bitcoin. 
Blockchain is getting a lot of press lately, and not just for ability to transform banking and the financial sector. According to this article there are much bigger impacts of blockchain (like voting or even buying equity in musicians)
http://freemarketfx.com/what-is-a-blockchain-and-what-does-it-do/
What do you think blockchains can be used for? Obviously decentralising banks, but I am interested in the more unexpected options
Yes, blockchain is getting a lot of press for now, because some institution is started to adopt blockchain system and in some countries blockchain system is already applied in some institution and this makes blockchain getting attention from a lot of press. http://freemarketfx.com/what-is-a-blockchain-and-what-does-it-do/
What do you think blockchains can be used for? Obviously decentralising banks, but I am interested in the more unexpected options
Closed, private and similar type of blockchains are pointless. They are not immutable, nor resistant to corruption. I don't understand how these people do not realize this. Such a blockchain is worthless as it retains no attributes that give it the intrinsic value.
Exactly. It is really unbelievable to see how bankers try to employ some buzz-worded "blockchain-technology" for any use case that pops up into their minds irrespective of the efficiency of the solution. Most of banker's blockchain use cases can be served by traditional data banks much more efficiently. The simple reason is that bankers consistently renounce the most important aspect of the Bitcoin blockchain: decentralization. If you want a centrally controlled service, there is no advantage of using "blockchain-technology" over a simple data bank.
Bitcoin's blockchain will be usable for any service that needs a secure registry with a timestamp-function. There are countless possible use cases for this simple function alone. But I consider all these things only a useful addition to Bitcoin's true killer app: Decentralized, sound, cash-like electronic money.
ya.ya.yo!
What do you think blockchains can be used for? Obviously decentralising banks, but I am interested in the more unexpected options
No. That's not what is going to happen. The correct statement would be "Bitcoin's blockchain could decentralize the financial system.". Closed, private and similar type of blockchains are pointless. They are not immutable, nor resistant to corruption. I don't understand how these people do not realize this. Such a blockchain is worthless as it retains no attributes that give it the intrinsic value.I'm certain that there are a lot of use-cases that we have not even thought about yet. This was surely discussed already, so it might be worth searching for relevant threads.
Lauda has it
Public blockchains enable publishing. When I make a publicly verifiable transaction on the bitcoin network, it is just publishing that the coin is now held by a new address. This can also be used as a notary, as a domain system (namecoin), or for communication (ok that's one expensive channel but sometimes it becomes practical).
What do you think blockchains can be used for? Obviously decentralising banks, but I am interested in the more unexpected options
No. That's not what is going to happen. The correct statement would be "Bitcoin's blockchain could decentralize the financial system.". Closed, private and similar type of blockchains are pointless. They are not immutable, nor resistant to corruption. I don't understand how these people do not realize this. Such a blockchain is worthless as it retains no attributes that give it the intrinsic value.I'm certain that there are a lot of use-cases that we have not even thought about yet. This was surely discussed already, so it might be worth searching for relevant threads.
Blockchain is getting a lot of press lately, and not just for ability to transform banking and the financial sector. According to this article there are much bigger impacts of blockchain (like voting or even buying equity in musicians)
http://freemarketfx.com/what-is-a-blockchain-and-what-does-it-do/
What do you think blockchains can be used for? Obviously decentralising banks, but I am interested in the more unexpected options
http://freemarketfx.com/what-is-a-blockchain-and-what-does-it-do/
What do you think blockchains can be used for? Obviously decentralising banks, but I am interested in the more unexpected options
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