One of the main benefits of using blockchain technology especially in Government entities is that it could drastically reduce the operating
costs needed for a particular process to function if compared to using traditional methods and this could absolutely boost a nation's
economy but I doubt it will be in massive terms but at least its already a huge advantage for early adopters.
Topic: Will Blockchain trigger a massive boost in our economy? - page 9. (Read 1563 times)
Centralized national crypto currency for each country will make the transactions more faster and will make the banking service more reliable but its not going to make much benefits like financial freedom which can be obtained only by using decentralized cryptos.
It's no secret that many governments and central banks worldwide have paid close attention to the development of Blockchain technology. The same promises to provide lower costs and greater efficiency than traditional systems. Bitcoin's success proves that Blockchain is extremely ideal for finance. Once governments start rolling in their own digital currencies, people could see a reduction in payment processor fees like never before. Not to mention, transactions will become blazing fast within a matter of seconds instead of days.
Which is why, it makes me wonder if the adoption of Blockchain technology for our current monetary system will trigger a massive boost in our economy? After all, Blockchain provides many benefits that are too hard to ignore for central banks and governments worldwide. Everything will be much cheaper and efficient than it used to be with the traditional monetary system of physical Fiat. What are your thoughts?
Which is why, it makes me wonder if the adoption of Blockchain technology for our current monetary system will trigger a massive boost in our economy? After all, Blockchain provides many benefits that are too hard to ignore for central banks and governments worldwide. Everything will be much cheaper and efficient than it used to be with the traditional monetary system of physical Fiat. What are your thoughts?
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