Digital currencies to solve problems

[Blawpaw]

Hey guys, what type of problems do you think the use of digital currencies could help to solve?

Check the following article:
http://bravenewcoin.com/news/de-banking-is-spreading-commonwealth-investigates-using-digital-currencies-to-solve-problems/

Great article.

At last the banking industry is giving digital currency and the blockchain technology the deserved attention. I guess that from here to mainstream adoption it will be easy.

[Mickeyb]

@bitcoinsatan Huge dump of your Bitshares over the night, - 11% and the migration from 1.0 to 2.0 hasn't even started, yet finished. 2.0 better has no bugs when it launches later today, otherwise price is headed toward 1400 where it started weeks ago!

[~Bitcoin~]

As current era is digital era, money should also be in digital form. So digital currency is the one that have made this global a small place in terms of doing transactions.

[Djisamsoe]

i think the only one that can solved with digital currencies is payment problem,digital currecncies make a simple payment and fast payment,

[avatar_kiyoshi]

As current era is digital era, money should also be in digital form. So digital currency is the one that have made this global a small place in terms of doing transactions.

Fiat also have digital form itself, credit card

The main problem is not being a digital world but how to solve a lack of fiat currency, from the fees, transaction, privacy(it's depends on people, they are people who haven't disturbed with it and otherwise), and how to solve the problem a currency can be manipulated with a fat guys under government.

[Q7]

Money remittance is where we should focus on. I think this is an area where bitcoin has the advantage but we never fully utilize or capitalize on it. Imagine having the fund reached the other party almost instantly and with the low fee. For an annual 50 billion market worth, half of that amount would easily change everything. 

[n2004al]

Hey guys, what type of problems do you think the use of digital currencies could help to solve?

Check the following article:
http://bravenewcoin.com/news/de-banking-is-spreading-commonwealth-investigates-using-digital-currencies-to-solve-problems/

According to article: "The discussion quickly focused on the use of digital currencies for remittances, a classic scenario that highlights bitcoin as a cost-effective alternative to current international money transfer channels." So the discussion were only for the remittances. This is to few according to my meaning about the role of a cryptocurruencies in the economy of a country. And this meaning is not mine originally. But even me had this idea within myself without knowing. I saw this thing written by one my friend here in this forum in one of my threads.

I think that the mission of the digital currencies is way more big. They can (if it will be possible and if it will be agreed by the scientists of the economics science) replace the national currency of every country. There are are to many question mark to be resolved before about this initiative and the Authority of the country which will execute this option will have to many things to decide and to resolve (because it will be an hard experiment) but I think that this option have a future. And if it will be executed it will be the best possible (or at least better than the actual) one for the economy of that country.

[RKing]

Money remittance is where we should focus on. I think this is an area where bitcoin has the advantage but we never fully utilize or capitalize on it. Imagine having the fund reached the other party almost instantly and with the low fee. For an annual 50 billion market worth, half of that amount would easily change everything. 

good idea.

[Operand]

Money remittance is where we should focus on. I think this is an area where bitcoin has the advantage but we never fully utilize or capitalize on it. Imagine having the fund reached the other party almost instantly and with the low fee. For an annual 50 billion market worth, half of that amount would easily change everything. 

Totally agreeable, this is a big benefit to especially migrant workers from abroad who often send money several times within one year; a lot of services available charge up to typically 10% or so of the transferred amount as commission. There have been cases in which people have been misled to trust organizations that either overcharge or just have their money taken away. I think this is something that they can trust highly knowing that their money can safely and quickly reach their families.

[RKing]

With digital currency, you are your own bank. You can send money using the bitcoin network. You do not need the permission from a bank.

[Xagon6]

The Blockchain itself is paving the way for an entirely new technology sector of autonomous agents, application and corporations.

So in short, the Blockchain is going to solve an entire plethora of problems including financial inequality

[oozecoin]

It solves many issues and here is one of them :

http://cointelegraph.com/storage/uploads/view/771e9c7a39ec020f70a1c83102146111.png

Brilliant

That needs to be a meme, I totally see bitcoin becoming the main international transaction vehicle, replacing essentially the dollar

2025, and bitcoin could be a de-facto reserve currency of EARTH!

This really is great.. I hate.. HATE western Union.

[Kevin77]

Money remittance is where we should focus on. I think this is an area where bitcoin has the advantage but we never fully utilize or capitalize on it. Imagine having the fund reached the other party almost instantly and with the low fee. For an annual 50 billion market worth, half of that amount would easily change everything. 

Yes in this digital world, we focus for instant things usually. So, digital currencies are inevitable to make changes in our conventional financial world. Digital currencies will find boom everywhere as now a days people uses digital things almost everywhere.

[countryfree]

What problems? Digital currencies only make things easier. When it comes to remittance, which is the example here, BTC is a faster and cheaper way to exchange money between people far from each other. That's it. If the problem was the high cost of a service like Western Union, OK, the problem is solved, but it was a small one.

[maokoto]

Solves the problem of individuals transferring money from one side of the world to another without any other person mediating in that transaction.

Solves the problem of having to hold a bank account with detailed personal info. If you are an alien in a foreign country, you probably cannot have it (your id is not accepted etc.) but you only need a computer connected to the internet to hold bitcoin.

[ATguy]

The best problem Bitcoin solves is it is first currency with public ledger everyone can check. No fiat currency allows this. In future people might assign:

currency with public ledger = trusted
currency without public ledger = probably shaddy

A long way to get there though, as people are taught to just use fiat money without much thinking whether it is best option.

[Kprawn]

I think keeping land titles on the blockchain would help with some corrupt practices going on in that area --> http://bravenewcoin.com/news/factom-tackles-land-title-disputes-with-bitcoins-blockchain/

The other thing will be Smart contracts .... See this for more information --> https://en.wikipedia.org/wiki/Smart_contract

The best problem it solved for me... Cheapest global micro transactions of all payment methods out there. 

[davinchi]

Money remittance is where we should focus on. I think this is an area where bitcoin has the advantage but we never fully utilize or capitalize on it. Imagine having the fund reached the other party almost instantly and with the low fee. For an annual 50 billion market worth, half of that amount would easily change everything. 

Yes in this digital world, we focus for instant things usually. So, digital currencies are inevitable to make changes in our conventional financial world. Digital currencies will find boom everywhere as now a days people uses digital things almost everywhere.

Yes bitcoin focus for instant low cost transaction in this fast world. Bitcoin is created to solve many financial problems like trust-less environment to store your hard earned wealth into a secured format. Bitcoin would be the future world money. 

[AtheistAKASaneBrain]

I think keeping land titles on the blockchain would help with some corrupt practices going on in that area --> http://bravenewcoin.com/news/factom-tackles-land-title-disputes-with-bitcoins-blockchain/

The other thing will be Smart contracts .... See this for more information --> https://en.wikipedia.org/wiki/Smart_contract

The best problem it solved for me... Cheapest global micro transactions of all payment methods out there. 

Keeping land on the blockchain sounds good, but let's not forget here a basic fact, it would need to be recognized by the goverment at the fullest extent, because ultimately, the goverment has the power to send police on your land if someone tries to steal it... so I don't understand how the anti goverment full anarchist guys would deal with this.

[Xenoph0bia]

Money remittance is where we should focus on. I think this is an area where bitcoin has the advantage but we never fully utilize or capitalize on it. Imagine having the fund reached the other party almost instantly and with the low fee. For an annual 50 billion market worth, half of that amount would easily change everything. 

Yes in this digital world, we focus for instant things usually. So, digital currencies are inevitable to make changes in our conventional financial world. Digital currencies will find boom everywhere as now a days people uses digital things almost everywhere.

Yes bitcoin focus for instant low cost transaction in this fast world. Bitcoin is created to solve many financial problems like trust-less environment to store your hard earned wealth into a secured format. Bitcoin would be the future world money. 

Agreed with all of you, more and more people are using the digital products. There is constant increase in the user of digital currency, I really believe that in future traditional money will be replaced by digital money because such unique qualities and advantages.