Bitcoin Forum

Productivity paradox
Proponents everywhere tout that blockchain will make the world more productive. I've even made the argument that blockchain will force auditors and accountants out of glorified administrative work so they can produce more value for society.

Whether it's in banking, logistics, or advertising, on the surface, it may seem logical that any technological change will create "productivity gains." But before we convince ourselves that blockchain will be a time saver, consider the Solow Paradox.

Also known as the Productivity Paradox, this is the observation that "... as more investment is made in information technology, worker productivity may go down instead of up."

I've witnessed the Solow Paradox in action while working in different offices alongside C-Suite executives and other consultants. I've seen working professionals barely able to work an Excel spreadsheet, let alone utilize the countless Excel formulas that could have made their work output more productive and efficient.

https://www.coindesk.com/warning-blockchain-rot-brain/

This would probably be just a side effect, based on the example given with Excel, it would still depend on how a business establishment handles new innovations. Whether their workers are receiving sufficient training for new technology to be used in their day-to-day transactions.

It's like the truth, but just like it. In the world of technology are develop with the advent of the first pc, calculator. What could we do without them? I agree that the blockchain can be replaced by several robotic places. But it will help create global solutions and new skills for people

What this means is a productivity-enhancing disruptive technology, like Bitcoin can take a long time to show it's gain,

because there is an initial lag, due to the time required for the technologies to diffuse into common use. People and some

businesses have to train their staff to use this technology and the productivity would decrease, because the people are taken

away from the workplace for training and implementation.  ;)

I agree it's just how long will it take the auditors and accountants to get up to speed with blockchain.

we're forgetting that blockchain is (relatively speaking) brand new technology - the chain we know today will be like analog cassette tapes to todays teens in just a few years...everything we're doing now is building. The global adaption is a ways off and there's likely to be a prolonged and severely bitter fight from the uber capitalists of olde who want to protect their middle-man status. Forever fat for nothing!

The blockchain cannot be replaced. It costs a lot of money. Who has that kind of money? The capitalization of all coins is about 300 billion dollars. And who can imagine how much the equipment of all miners costs? How much space is needed to accommodate this equipment, maintenance, electricity...

I wrote about the fact that jobs can be replaced by blockchain technology but google translator translated it  wrong. this is some kind of garbage turned out)))

Yes well and blockchain will also make coffee one day  8)
Smart people will always be ahead of the curve, technology is a tool, nothing else.

Yep, paradox, and it can be true
On the other hand - blockchain is something that really changes the world in a very hard way and has giant potential

If it's true, the rotting of the brain part would not be blockchain's fault. It's the end user's fault for becoming over dependent on the technology itself instead of becoming its master. A crude example would be that of the rise of texting/sms plus the auto-correct app which resulted to people being poor in spelling. People can be good in spelling if they want to but would not bother because how it's done in sms is ok and auto-correct is always there do the work for them.

It is impossible to replace blockchain as the whole world is getting used to it. On the other hand, blockchain costs a lot of money and no one has that much money to replace it and introduce a new technology that would be able to create promising opportunities for people.

For a split second there, I actually thought the title of the article was referring to blockchain as some form of parasite that was literally feeding on one's brain from the inside. That is what clickbait does to readers anyway.

Meanwhile, we can not stop technologies such as blockchain from emerging whether they affect our productivity negatively or they tend to take away people's jobs. We have companies and governments that are dedicating their time and resources to bring such technologies. Personally, I would not want to revert to the old, mechanical and slow method of doing things just when there are technologies that can handle tasks perfectly.

Is there a connection here with the information overload we are experiencing everyday? Sometimes the more we know the slower we can decide because the brain has so many choices it can get so confusing. When we don't learn to simplify things and always prefer to make things complicated there is really a real tendency that things will slowdown. This is my perspective and I can be naivete sometimes.

Just how desperate can people get? Time to time they discover something new and share it to the world in an attempt to throw something that has greatly penetrated the populace in terms of practice and acceptability. And here, they even try to use science. I wonder how many people will be swayed by this write up?

I am aware that there are many studies that are against too much technological advancements as they deviate from the norms thus people get more stressed by these massive changes/innovations. But you know, that is how it works now. People have to work hard to be at par with times. Otherwise, how can they even live a decent life if they always shrug off change?

Blockchain is becoming popular and widely accepted by people. It is the trendiest technology we are using recently. And with its features, task is becoming easy and transparent. So, I think we should grab the trend to be adapted with new era.

Their are numerous projects happening around using the blockchain technology and many business houses in our country are exploring how it can be used widely in their business or something new could be made so that it helps to grow and expand. It is truly the bets thing at the moment.