The future of The blockchain

[NyeFe]

What do you make of this "The blockchain of #FinTech has revolutionalised finance. A blockchain (a shared database) of computer vision & deep learning will destroy barriers in AI, " for a blockchain

Source: https://twitter.com/BitNyeFe/status/692656335461163008

[European Central Bank]

I think we have no idea what's been unleashed yet. It's gonna take us to places we hadn't imagined. I think we're the same as the little guys playing on the internet in the early 90s. They were having their fun but very few of them had a clue what it would become.

[franky1]

comparing it to fiat
if someone wanted to do a wire transfer they send data "$100000 to acc: 123456 bank:434343" and it then falls on the clearing house to check that the account did have the funds, check that its not fraud by asking for lots of personal details, phone the account owner to authorize such a large payment, etc etc.

but with bitcoin. before it even reaches the miners, full nodes would have dropped the transaction if it didnt show proof of valid funds and proof of ownership.
thus miners can settle the transaction fast when they double check it. as there is little chance of nonsense transactions waiting for them as its already been filtered out.

and bitcoins signature takes away the need for authorization phone calls or flags to hold funds until more info is gathered.

so yes bitcoin takes out the human element and the manipulation risk element to allow AI bots to be created to automate payments of goods or services.

imagine it.. a US drone has been programmed to attack a target. but there is no chief in command of the red launch button. instead there is a public address where senators send votecoins to.. if the address gets over 55% of the votecoins.. it launches

imagine it.. you press a button on your fridge to say out of milk. your fridge sends funds to a walmart shopping cart to order milk

imagine it.. car dealers put in $30,000 car coins into the manufacturers address for a red 4x4.  the funds are split up into their needed departments. $800 of coins goes to the wheel manufacturer, this triggers the wheel fabrication robots to power up and start moulding a wheel out of alloy. another $8000 coins goes to the chassis department and triggers the chassis robots to power up. blah blah blah..
and finally $1 goes to the internal computer of the finished red 4x4 to self drive it onto a vehicle truck ready for delivery

[gilangIDR]

I think blockchain will remain the best. they have a remarkable consistency of the data. you think, how much data they process every time. it is a remarkable thing.

[Kprawn]

They are big activists for decentralization it seems... and I agree with them. I actually liked this more ---> #FinTech is the mitiorite to legacy systems {Direct quote, I did not correct the spelling error}

The financial world were pushed upside down with the introduction of this revolutionary technology and they suddenly started to innovate around

some problems that has been with us for years. They are now forced to adapt or they will get disrupted.  

[HeroCat]

In future I think banks will implement the blockchain in their financial system, so blockchain will develop with this. 

[Elwar]

You can go ahead and use the word Bitcoin.

When referring to the Internet do you ask what people think about the TCP/IP?

[darewaller]

You can go ahead and use the word Bitcoin.

When referring to the Internet do you ask what people think about the TCP/IP?

Yes, blockchain is branded as bitcoin system along with the basic unit also named as bitcoins.
Future of blockchain is future of bitcoin. When blockchain evolve itself, it will result in better bitcoin system.

[Kazimir]

You can go ahead and use the word Bitcoin.

When referring to the Internet do you ask what people think about the TCP/IP?

Thanks Elwar, that's brilliant I'll remember this one.

[romero121]

You can go ahead and use the word Bitcoin.

When referring to the Internet do you ask what people think about the TCP/IP?

Yes, blockchain is branded as bitcoin system along with the basic unit also named as bitcoins.
Future of blockchain is future of bitcoin. When blockchain evolve itself, it will result in better bitcoin system.

As quoted the blockchain will influence the growth of bitcoin price. If the block size increases it would affect small miners, So blockchain changes has to be made with some correspondence that should not affect miners as well the price of bitcoin

[azguard]

You can go ahead and use the word Bitcoin.

When referring to the Internet do you ask what people think about the TCP/IP?

this is good one i must say i laugh about it so much and i must say people are more taking about crypto world then anything else in few year we will only hear in normal life
"did you get you bitcoin today"

[winspiral]

who pays blockchain fees?
and if blockchain is cancelled?

[OnTheMF]

The future of block chain will sure affect us in our daily life. and every where we will talk about this digital wallet where there is no risk and has lot of features and benefits about it to help us transaction in a very fast and in less transaction fees.