Bitcoin Forum

Blockchain not just about bitcoin and virtual currency, at least this is happening in my country (Indonesia), the latest news that the General Directorate of Taxes provides taxation services by adopting blockchain technology (https://ekonomi.kompas.com/read/2018/04/27/103000526/teknologi-blockchain-solusi-perpajakan-indonesia-yang-lebih-transparan). They believe that blockchain technology can be a more transparent taxation solution in Indonesia.
In my opinion, bitcoin with its blockchain technology has many positive impacts on the world economy. Technology blockchain banks in the world is only a matter of time. Banks that have implemented Blockchain on their systems include the Royal Bank of Canada (RBC). They developed a distributed ledger technology (DLT) system based on Blockchain technology, and named Hyperledger.
Bank OCBC has also used Blockchain technology to transfer funds between OCBC branch offices in Singapore and Malaysia. The money transfer process takes only about 5 minutes.
Bank Santander. The British bank has also started using Blockchain technology in its services. Bank Santander uses Blockchain technology to service payments abroad, through new applications.
This means the world has unconsciously received the presence of Bitcoin. Due to evidence of security and speed of blockchain technology brought by Bitcoin. I believe that bitcoin has a bright future, and countries in the world will simultaneously recognize and legalize bitcoin.
Let's discuss this, share information about the development of bitcoin and blockchain you know, and express your opinion about it here, the results I expect from this discussion, can reinforce the existence of bitcoin.

This has been discussed before: blockchain would be the tech that would change how the world handles things. If we think that computerized ledgers and databases are already advanced and secure, what more if we would be able to integrate a transparent yet pretty darn secure tech on the way we handle our records? This would be a cost-effective record keeping technology if implemented perfectly, and it's just one application of the tech. It could be implemented literally in almost every banking and finance services alongside automation processes in the private and public sector.


They see bitcoin as the first true application of the blockchain technology and it proved to be successful. However, I think that there still wouldn't be a paradigm shift towards bitcoin as everyone is still busy cuddling their fiat and banks. People would gladly accept the tech but bitcoin? It still has a long way to go IMO.

That is an interesting train of thought. I think they might be right on that although a big part of it will depend upon details of implementation and whether it will be possible to use things like VPNs, proxies or TOR to anonymize certain aspects of transactions to some degree. Of course there is plenty of theft, fraud, money laundering and market manipulation in regulated markets. An introduction of blockchain technology could actually decrease the amount of fraud and crime in regulated markets as many things would be logged and transparent for the world to see.

Have banks really deployed blockchain technology en masse? I think that article confuses small scale test runs of blockchain technology utilized by banks for full scale support. It is doubtful banks have embraced or rolled out blockchain technology this quickly.

Of course blockchain isn't just bitcoin.

But bitcoin is the first currency that uses blockchain technology. That's why there are so many people who swear by it and are willing to put money into it. But that doesn't mean that blockchain technology is only limited to bitcoin, or even transaction making.

Lots of governments are currently launching their own blockchain/cryptocurrency programs, where they aim to have more direct control over the economy and taxation. Blockchain in this instance is applied in a completely different way than bitcoin, since it is centralized.

that means it's our duty to explain to everyone, perhaps through an explanation of blockchain. Because it looks like blockchain is getting popular, and can be widely accepted without major obstacles.

The first sentence I agree, that blockchain is now the most secure centralized technology. transparent and fast. Bitcoin has proven this.
About the implementation of various banking and non crypto companies, I dont know much yet. It's also my goal this thread, to get a lot of information, and learn a lot from bitcointalk members.

The government should not be allergic to Bitcoin, but appreciate it by receiving, and making it lawful for its citizens.

This is great news, you did not tell me about this thread. users of crypto in Indonesia is big enough, even has the biggest market in Asia, if the government start to look at blockchain, banks also use blockchain, ideally the government is aware, how bitcoin can grow big. The government entered into a bridge between bitcoin and rupiah currency (fiat), making regulations that could make the rupiah goes hand in hand with bitcoin.

talk about bitcoin, then not just talk about Indonesia, but I like your way of thinking. some time ahead, more and more shows about bitcoin, crypto and blockchain are being held in Asia, in the form of education, seminars and workshops, there are even some friends who introduce bitcoin to small communities from cafe to cafe. This means users are very active in introducing bitcoins. just waiting for the time for bitcoin to be legal and can be used in general.

with pleasure. Thank you for joining to discuss here. I will wait for the information and opinions that you will bring here. I believe you have a lot of information, and opinions to share.

Will it be a centralized blockchain or a decentralized one? I cant see how it would be more cost effective except if it is a centralized database. Decentralization costs much more as we have regrettably learned lol.

At least governments(at least some) recognized the presence of bitcoin and legalized it as an asset/digital money that helps in money trannsfer(or as a speculative tool for some). As of the moment many countries are seeking to use the blockchain tech and apply it into many fields which really shows that people gladly accepted blockchain.They are definitely looking for a centralized blokchain. They don't want decentralization.

absolutely right. the blockchain is not only a field of about crypto. very nice blockchain system to be applied in a variety of ways. because the system itself is very useful blockchain of so many things at this time regarding the game, banks, and many more to adopt it blockchain.

Yes, blockchain is not only limited to cryptocurrency. It can be used in banking and financial sector foe settlement and clearing, payments and KYC purposes. Most of the uses of blockchain are available in the form of smart contracts. With the help of blockchain technology, smart contracts can be made more secure. Blockchain can be useful in the field of AI also. Since blockchain technology can guarantee the accuracy of data, it can be useful in many Artificial Intelligence (AI) applications, for entering the data into the AI systems and for recording the results from them. Blockchain provides a bookkeeping platform that ensures transparency, cannot be corrupted, and bypasses censorship. By tackling such issues, blockchain technology has a huge potential for protecting the human rights of the people.

They like the decentralization aspect, but only to a certain extent. That extent is that there is only one single authority (they themselves) being able to modify block data, where malicious modification attemps by hackers and wrong intended individuals and whatnot won't stand a chance. The only thing is that we don't know how wrong intented the single authority is that can modify block data whenever it feels it needs to do so, which is why I never trust these initiatives. Centralized parties aren't trustworthy already, and that won't change when they shifted over to the blockchain completely. If it isn't completely decentralized and thus immutable, it aint good.

From taxation agencies, banks, as you mentioned earlier, are indeed related institutions and governments are beginning to accept blockchain, even according to news stories I read from various sources say that blockchain is indeed being researched and ready to revolutionize in various fields. The technology behind the bitcoin is indeed worth our appreciation for being able to create an efficient system. But in my opinion, I still doubt the bitcoin if used because bitcoin is still a tech product that still needs much improvement. I think new blockchain that deserves to be legalized and needs to be immediately adopted in various fields.

I would be very grateful if you would share with us, please share something you have learned, so that I and other friends who can understand like you.

I agree with you, even if it is not legal as a currency, at least equivalent to tradable assets.

very interesting, simple; safe, fast, cheap, and transparent.

in the case I'm talking about, about adoption of blockchain for online taxes in Indonesia, I have not studied fully. I only see the positive side that the technology is in popularity by Bitcoin this was widely accepted by many countries. so I have not been able to say "whether this is right and good" or not.

Are you sure? sorry if i misunderstood your sentence. does this mean, do you think Bitcoin has many weaknesses to become crypto currency? can you explain in detail, the reason you doubt Bitcoin?

of course not, I do not intend to focus too much on a country. We agree, I am on the same side as you. that Bitcoin does not belong to one country, that blockchain is a safe technology popularized by bitcoin.


I am interested in your sentence, "Centralized Bitcoin and Decentralized one". please explain, is this different between blockchain used by bitcoin with blockchain adopted by others?

The world has unconsciously received the presence of Bitcoin. Due to evidence of security and speed of blockchain technology brought by Bitcoin. I believe that bitcoin has a bright future, and countries in the world will simultaneously recognize and legalize bitcoin.
Blockchain would be the tech that would change how the world handles things.

Blockchain is a very vast subject.Basically it is a tech which is decentralized,tamper proof.In short,it is a continuously growing list of records, called blocks, which are linked and secured using cryptography.

The reason why blockchain was know to everyone as of today is because Bitcoin and altcoins was the most popular thing that started using it and because of this when they heard blockchain then the first thing that comes out to their mind is Bitcoin of course. Well technologies has many uses today and sometime they function more than of what we know.

That's good to hear about Indonesia. The world is definitely heading in this direction, and more tools are needed to help crypto adoption and transparency.

I a gree with you. Bitcoin and Blockchain are now very popular. just a matter of time, for everything to come true.

and did you know, that blockchain was invented by Satoshi Nakamoto in 2008 for use in the cryptocurrency bitcoin, as its public transaction ledger. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has been the inspiration for other applications.

it is true. Bitcoin and Blockchain are two things that can not be separated.

thanks. I agree with you. soon it will become a trend. both in government and banking. and will have a positive effect on the world economy. it looks like your name is very familiar with the development of a project. are you a developer?

Today Blockchain is widely used in many jobs. So BTC is not the only platform for Blockchain technology. We can see that many trading and service activities are based on the Blockchain platform.

Everybody who knows how blockchain works are well aware that this technology is not just for Bitcoin and virtual currency.We know that this technology will help many sectors in society. I actually read that one province in India uses blockchain as its ledger.

I can see in the future that more countries and companies will convert to block chain. They will soon understand the benefits of using the blockchain technology.

Blockchain and bitcoin are two different things, bitcoin is using blockchain technology, and since then a lot of people already interested in this technology, some countries already started to do research on blockchain to optimize the usage, if it uses properly it can solved many things in the country, so blockchain is not only can be implemented in economic sector but in it can be used in any sectors

Of course a lot of people know that Blockchain goes beyond bitcoin but the one that is easy to understand is the language of money that's why it seems that concentration is on the part that can bring in USD. Do you also know that a lot of people cannot even explain concisely the difference between Blockchain and bitcoin and so vast in the art of trading, ICOs, legalisation of bitcoin, SEC message, what Warren or Gate said etc.

I have read about quite an amount of development of blockchain atleast at it relates to accounting. I read about EY establishing blockchain centres around the world showing the practical ways it can be implemented in business decisions. Their counterpart PWC announced they are launching blockchain audit service for their clients that have started using it without disclosing which of their client. All of these point to the fact that the technology has come to stay and despite the attention focused on bitcoin part, it does not remove the efficacy of the technology behind it.

Unfortunately many people think that blockchain can only be used bitcoin and other cryptocurrency, whereas blockchain is a good thing to use for all transactions such as online sales, transactions in banks, transactions at ports and so on.

Some people already know that bitcoin is a cryptocurrency been powered and established in the new technology 'blockchain'. Though, many people didn't know about it before till now. And apart from cryptocurrencies,  there are many things that can be established through blockchain like Share electricity with the neighbors,  registering music copyright and many more. People should be educated about this.

Bitcoin was originally modeled for financial transactions, the developers of Etherium managed to implement a peer-to-peer network, in which programmed algorithms can be executed. They are called smart contracts.

It is true. even government agencies are also beginning to make many breakthroughs using blockchain. indirectly this also popularized bitcoin, as well as bitcoin, participate popularize blockchain.

indeed very remarkable development of the current blockchain. has had a positive impact in many sectors. this should be enough for governments in many countries to acknowledge and approve bitcoin as a crypto currency.

I understand that. but I do not understand why most countries are still scared with bitcoin. if we look at the functions and technologies used bitcoin, this is very clear, safe and transparent. the fear will make bitcoin as a means of money laundering, finance terrorists, inflating bubbles, etc. I think it is excessive, because in fact it is a technical thing that can be anticipated by law.

it's in your world, in my environment it's not like that happens. they actually know better about blockchain, than bitcoin. currently blockchain is much more popular than bitcoin. in part, they know that bitcoin is born on the blockchain technology, but does not want to admit that bitcoin is indirectly popularizing blockchain.

this is another great blockchain story. but yes, the ethereum team managed to use it in a different way, but still it was born because of the popularity of bitcoin.

Block chain is the core technology of bitcoin. Before bitcoin was invented, there was no blockchain in the world.

After the invention of bitcoin, many people refer to the blockchain implementation in bitcoin and use similar technologies to implement various applications, which are collectively referred to as blockchain technology.

of course, because bitcoin and blockchain are born from the same person. this means blockchain is the biological child of Bitcoin. Because blockchain was born from the idea of ​​Bitcoin. Blockchain is popular because of bitcoin. This is not known to everyone.

As far as i am concern about this, it has been already talked and discussed several times in this forum since then. Of course blockchain technology is not only for bitcoin but for other cryptocurrencies also, or in short it was made for cryptpcurrency and how the people will manage their online currency. It doesn't really imply that bitcoin is the only reason why blockchain existed.

Of course. But bitcoin is more famous than blockchain because people more involved with money not technology

It is indeed not just about bitcoin because there are quite numbers of coin that are available

Intelligent by using more open blockchain technology in taxation to minimize corruption in the country,I deeply appreciate the ideas and developments in your country and are very happy with the development of blockchain and cryptocurrencies there.

right. and the blockchain has been portrayed as facilitating the transaction tool and the blockchai system is transparent to view the person in use to see the number of transactions in the largest bank bank

Blockchain is a path or a way of transactions and also the recorder of all the transaction that we made . But bitcoin is the first in using the blockchain technology . Because of bitcoin there have been ideas that other companies have made their own blockchain.

With what some countries have started doing with blockchain technology it is no doubt that blockchain will soon be adopted in banking, taxation, election, census and every sector that needs accuracy and transparency.

Encryption money is only actually block chain can affect the future of application in the small tip of the iceberg, through block chain technology bring convenience and safety of impartiality, will be extremely important impact on our future life.

Blockchain is a transparent way of storing information that no one can control and is very secure.

Blockchain technology may eventually lead to the demise of the banking industry, which may no longer require Banks.

Yes, It ' s true. blockchain isn't just bitcoin.But bitcoin is the first currency that uses blockchain technology. That's why there are so many people who swear by it and are willing to put money into it. But that doesn't mean that blockchain technology is only limited to bitcoin, or even transaction making.

blockchain would be the tech that would change how the world handles things. If we think that computerized ledgers and databases are already advanced and secure, what more if we would be able to integrate a transparent yet pretty darn secure tech on the way we handle our records? This would be a cost-effective record keeping technology if implemented perfectly, and it's just one application of the tech. It could be implemented literally in almost every banking and finance services alongside automation processes in the private and public sector.

Its all about all of Cryptocurrencies cause we all know that blockchain is a chain its very big. Its not all about bitcoin afterall. We should know that it is for all of Cryptocurrencies. Token or coins. Blockchain technology is not for bitcoin only. We should accept that. Dont be too ridiculous.

The bockchain is the most advance and secure so far. That is why banks of bigger countries trusted the system. It is not far by now that more banks will accept bitcoin. And if that happens bitcoin will grow to become more popular.

these days I try to find everything about blockchain, but outside bitcoin. the result is remarkable, it turns out almost blockchain users scattered throughout the world. and some sources also explain that blochain can be adopted by anyone without the creator's permission. as you say, blockchain is not just for bitcoin. and the fact is not even just for crypto currency.

this is done for banks that do not want no technological developments, and innovate sesui conditions of the times. if in the end the bank uses blockchain technology, then the banking will survive, even FIAT will remain on track. because when banks adopt blockchain. then the transaction will be faster, and compete with the crypto, even not impossible, if the transaction fee will be cheaper banking.

I heavily agree with this one, I really think that blockchain has taken it to the next level, people are starting to recognize blockchain's potential, back then it was all focused on bitcoin, and now blockchain's technology is really advanced and I think could be the future of currency, not only bitcoin but also every country will benefit from it, and the economy could possibly grow as well as blockchain will further be knowned throughout the world.

Blockchain is centralised data base management in transpercy and unhackable form which can be used in any industry my just bitcoin and transactions mainly in banking useful

and there is a great opportunity for fiat, taking part in adopting blockchain technology. I am sure, the next 5 years most banks in the world will use blockchain. and could be a financial transaction in the bank will run on the blockchain, this is one alternative bank to remain competitive with the crypto. by using blockchain, the existing transaction costs will be cheaper, but the bank still get a profit. the transaction process will also be faster and safer.

you are not alone, keep fighting. technological change is very rapid, we must be able to adjust to be part of the change, and can help many people to be able to sit at the same level, standing equally high. as well as bitcoin and blockchain, which provide many benefits to all, regardless of rich or poor, ordinary citizens or high officials, can all be involved.

You have just stated the obvious! We all know that Blockchain is not just about Bitcoin. The reason why the world is looking forward to it is the technology and not Bitcoin as currency. So many financial institutions have welcomed the use of blockchain in their systems and I read somewhere that Amazon is going to start with it too. In no time we would see a worldwide adoption of blockchain technology.

I understand that. I want to see a growing paradigm, maybe I can get new things about why it's so hard bitcoin to be widely accepted, while the technology can be easily accepted.