BLOCKCHAIN: A REVOLUTION

[Mudra]

The reason we are here today is that our current financial system is outdated. Financial institutions have financed the disruption of countless industries over the last 30 years; they now have got an idea of what a revolutionary technology can do to static incumbents.
So, to stay ahead of change, banks have been proactive in building test centers and establishing partnerships with blockchain developers to fully understand the revolutionary potential of the technology. People now are getting to know the main idea behind the concept of blockchain. Financial institutions were the first ones to take part then came government, consulting firm and many others. developers and entrepreneurs are creating new products using ethereum blockchain or are creating new blockchains all together. There is a lot that blockchain technology can solve. Though cryptocurrencies were the first platform developed using blockchain then people thought of other real world problems that could be solved using blockchain. These days smart contract have become an encyclopedic phrase. To be precise, blockchains are not built using any new technology. its a combination of Cryptography, peer-to-peer network and the protocol. The main features of any product based on blockcahin will always be decentralized, openness and permission-less. Blockchain technology has the potential to transform each and every sector in long term. As a distributed ledger, blockchain reduces the costs involved in verifying transactions, and by removing the need for trusted "third-parties" such as banks to complete transactions, the technology also lowers the cost of networking, therefore allowing several applications.Not only the entrepreneurs but now the government has also realized the potential of blockchain and they also are using blockchain technology.

[fabskie21]

I could'nt agree more with your post. Truly blockchain technology is big revolution. It does not just make transactions simplier and easier but secures data exchange as well which is a key factor that would be very beneficial especially for large industries.

[teilwalL05]

I had read an article about the use of blockchain technology in certain areas besides Cryptocurrency, And that read is very outstanding and promise for the future ahead, And we all know that the internet is great for collaboration and communication but it is deeply flawed when it comes to commerce and privacy, But here is blockchain technology and Keep' the user’s information anonymous then it validates and keeps a permanent public record of all transactions so your personal information is secure and private while all activity is incorruptible and stored in code on a digital ledger, Because of this we don't need to trust each other because the system itself was built to be trusted.

[Mudra]

As they say, "to err is human" but when we remove humans from the system then there is no chance of forgery.

[MyLitecoin]

People keep blaming crypto and blockchain tech as being “scams” and what not. They think it's just a high-risk investment that fools chase. Well, it's true. We have ICO scams, pump and dump groups, people just using bitcoin as a way to get out of poverty... but no one really realizes the innovation in the tech.

Blockchain tech is the voice of the people – the true, pure voice. A global democracy. It's freedom from our oppressors and manipulators. Decentralization is the key for a cleaner society.

I was talking with my friend about it – and as the internet got big, so did the oppression of the people. You have Google and Facebook, which we're forced to use whether we like it or not. Schools are using Google Docs and friends and family want to share instantly their photos on IG and FB.

But both companies have policies where you have to agree that they'll sell your private info in exchange for their free services. Gmail is reading your emails. Yes. And you agreed to it.

But do you see that if we didn't use Google, Gmail, Google Docs, Google Drive, and FB... we'd be schizo? You would look like a crazy person, unplugging all your apps and yelling at anyone who tagged you on fb! Everyone's trying to have fun, sharing photos, there you are acting like a paranoid grumpy person.

Well, it's human nature for humans to be social – and the internet is just another channel for people to be happy and share media and content with each other! You feel like you can't fight the tide – like you have to give in to these companies and their data sharing.

But now blockchain tech is the answer! With blockchain tech, we can have decentralized social media where people can still share their stories, but not have it be controlled or manipulated by one central company! People can still have fun with each other online without their private messages ending up in some third party databse.

Anything centralized that's oppressing people – blockchain tech deconstructs it and offers a clean alternative! You have authors now using blockchain tech (ERC20 token) to be their own platform rather than succumbing to the royalty fees and guidelines of mainstream publishing companies and Amazon.

That's the power of blockchain tech – it's true democracy in any industry or field that needs it. Blockchain messengers, blockchain browsers, blockchain internet, and even one day – blockchain government!

Blockchain is the FUTURE! A Digital America.

[arpon11]

Blockchain technology has a great potential and if this world most grow be must put aside our modern and old financial system that creates more problems than the batter system. We are currently live in the world were the different between the poor and rich is too high and one may need to understand the Blockchain technology in other to understand how this iniquality can be corrected.