Topic: Will Blockchain trigger a massive boost in our economy? - page 2. (Read 1561 times)

The majority of countries in the world, especially those who prohibit the cryptocurrency, say they do not reject the blockchain because the blockchain with all its positive supremacy is something that cannot be avoided. But you were right, the government may be scared to adopt a decentralized blockchain because it can't be fully controlled by the government. Based on this consideration, the government prefers to choose permissioned/private Blockchain instead of permissionless blockchain.

In the era of the Industrial Revolution 4.0, the role of technology took over the majority of economic activity. Blockchain's advantages in tracking, organizing, and distributing information are expected to optimize marketing processes and distribution chains. The tracking system will improve transparency in the production chain from upstream to downstream. These solutions can improve supply chain efficiency. So the government will rely on the development of digital technology in the future to improve the quality of development planning and development itself.

The government itself is preparing for the application of blockchain technology with several programs including improving the quality of digital services (maximizing internet connectivity and mobile phone penetration) for efficiency and driving economic growth. Simultaneously improving the quality of human resources is also needed so that they are ready to compete. Modernization (upgrade) in all fields, especially the productive sector, in order to encourage the development of financial technology. If the digital economic climate has been formed, innovation is needed between the government, business people & the community to encourage collaboration between start-up companies and program sustainability.

If the government will recognize and acknowledge the advantages of blockchain technology then I think that the blockchain technology will go far in the future. As of now, the governments are still doubting about the capabilities of blockchain because they are scared about the decentralization since they are all about centralization. But I do believe that in the near future, decentralization will be much more favorable in our world.

It's a hard question.
No one knows exactly where the blockchain development will take us.
Perhaps towards freedom, perhaps towards the most frightening of dictatorships.
Useless to ask too big problems: let's try to make money with what we have available.

Completely agree with you, mate. The many benefits that Blockchain technology provides,  is enough reason for our economy to improve in the future. While everything will depend on government's actions, there's still the possibility that our economic system will improve as fees will become cheaper and transactions blazing fast like never before. It's been proven that Blockchain technology is extremely beneficial not only to finance, but also other areas such as healthcare, transportation, proof of ownership, and more.

Most recently, China has shown interest in developing a digital currency using Blockchain technology. China's president has made some positive comments about Blockchain technology a while ago. This shows us that countries are slowly but surely adopting Blockchain technology for their own benefit. If used at a large scale, we'll get to experience a world where everything is much cheaper and faster than ever. Of course, people would need to get used to the new Blockchain economy in order to experience a substantial boost in the same. But we'll get there as awareness is spread worldwide by crypto enthusiasts and governments alike.

Nonetheless, time will tell us if Blockchain technology will be able to truly boost our economy or not. If it stays the same, then people won't notice the difference. They'll be simply interacting with digital Fiat currencies as they would with ordinary credit card transactions. With a lot of demand into government-backed digital currencies using Blockchain technology, the economic system could benefit itself in many ways. Just my opinion

How can they destroy the decentralization that exists on the Blockchain system? I think Blockchain technology will always be decentralized, which cannot be used as centralization. The government's use of the Blockchain system I think is a step forward for the world of Crypto.

If all of the country adopt the regulation of the blockchain technology then it would be really good to increase the economic growth of every country that is properly regulating the blockchain technology, and through the use of this a very massive impact to the economy of a one country can occur because of the advance technology and monetary system that they have. If all of the country start to adopt the blockchain technology then probably it would become the center of the crypto someday.

We should not be too excited that the governments are showing interest in Blockchain Technology as we all know they never wanted this and if they did, know they are using it for their own personal gain which destroys the term known as “Decentralisation”.

blockchain using cryptocurrency was created using technological developments and times and we also know developing countries technology and economies that use the blockchain and cryptocurrency economic system and I'm sure along with the development of technology and the era of blockchain and cryptocurrency will be needed and used of course

Blockchain is a disruptive technology. It not only has utility in finance sector but in many other too.
Blockchain can make transactions and record keeping seamless and trustworthy. Banks lose a lot because of the corruption inside their system only. Blockchain can completely eliminate that. A lot of cost is involved in paperwork and increased human hours to maintain records in supply chain management. Blockchain can help  in easing that process.
There are many more sector from medical to insurance where blockchain is really helpful.
So yes. it will ultimately add to the economy.

Perhaps Blockchain could make a difference in economic status of one country. Just like you have mentioned Blockchain technology make transactions more faster and cheaper basically, more efficient. Remember every second and every minute corresponds a huge amount of money, time is all matters. If every each country will use Blockchain for any transaction they could save a lot of time and there's a chance for them to boost their economy.

 I have always had a positive view of blockchain when applied to today's industries. Although it is quite difficult to operate, when people master it, I believe that everything will be resolved very quickly in the future.
Things that save time are often greatly appreciated in the future. That is why I always believe that this technology will never die.

yes you are right by using the blockchain financial transactions will be easier, safer, faster and cheaper. and in my opinion this blockchain technology can be applied in all sectors not only finance. with the use of the blockchain the data transaction process will be more transparent. therefore many countries have now adopted the blockchain and even some countries have begun to use the blockchain to make their own cryptocurrency.

Blockchain is a breakthrough technology to transact because it is safer, faster and efficient. Different from banks where slower and less transparent.
If countries want to adopt a blockchain perhaps the economy will have a good impact on it as China recently launched their currency, where the Chinese government also ordered a blockchain option for the country.
If many countries are willing to follow as China is likely blockchain will be known by the public and impact on the cryptocurrency ecosystem.

Well, I don't think Banks will be going anywhere since they still want to be largely dominant within the mainstream world. They could simply adopt Blockchain technology for their own benefit if they desire. With many governments showing a deep interest in Bitcoin's revolutionary technology, it seems to me that it's the way of the future for our economic system. Whenever it'll improve our economy or not, that's up to debate since governments and central banks will determine the economics of their digital currency. Blockchain may promise greater efficiency and transparency over worldwide transactions, but it's limited to how far developers are willing to let it go. In this case, the developers will be the governments and central banks themselves where they could dictate their own rules for the global blockchain network.

Still though, if people adopts decentralized payments in mass, there could be a slight possibility that Blockchain would trigger a massive boost in our economy within the future. Everything will depend on demand (and certain other factors) in order to experience a boost in our economy. Even if our economy stays the same, it would operate in a much faster and cheaper manner than before. With this, physical cash will cease to exist as our world enters a new era of fully-digital payments. Only then, it'll be possible to send payments across borders (with Fiat) if governments allow it. Time will tell us what exciting things Blockchain will bring to our economy as it reduces corruption/fraud and maximizes efficiency in every way possible. Just my thoughts

People who are in government are not always sincere to their state and people. They always do corruption or intentionally do not follow the ways that can boost up economy because they want to hold good control over people. Crypto currency are that is why not liked by most of the governments because it will provide common people with huge opportunities of making money that too without paying taxes.

It certainly has the potential to do so. Speeding payment processes, automating auditory structures, etc. In summary, it'll boost cost-effectiveness, transaction speed and safety. The current problem any crypto project is facing right now is scalability and reach. The economy can only improve so much if the adoption volume still remains in a niche.

Yes. The blockchain technology could solve that counterfeit because the blockchain technology has its transparent system where people can check anytime to verify if the officials of the government are doing their job and to know if they are stealing something or not. I am a fan of blockchain technology since I discovered it and I hope that in the next few years, all major countries will migrate into blockchain system.

Blockchain technology is a revolution that may help survive the global economic crisis. I think we should keep an eye on the improvement being made in bitcoin and other altcoins cause who knows? Maybe it will be the currency we will be using in the next few years. Another thing also is the fact that banks are not being enough anymore to regulate the money of everyone in the world so it is necessary that we switch into blockchain technology for the better.

yes I agree with you adopting blockchain will drive the country's economy for the better. because by using the blockchain the transaction process will be more transparent. so that we can avoid the financial crisis because of dishonesty. then using blockchain transactions will be faster, cheaper and safer. so do not be surprised if most banks have now adopted blockchain technology.

This is undeniable, one of the reasons why lots of economies per country are through a recession is because of the loss they are suffering through counterfeits. Counterfeits are sometimes being caused by those who are already inside the government doing an inside job for their own interests or by other external culprits. If blockchain start to get in the way be used to avoid counterfeits because of the technology it provides, the economy could boost up for they can keep all the money worth over millions that they are losing annually.