What They aren’t Telling You about Blockchain

[Mr. Net]

All the talk is about the amazing rise of blockchain technology and its awesome benefits to banks and all the new features and use cases. There is even talk about the efficiencies it will provide to governments (which is quite ironic as you will soon realise). There is something much more profound happening and unfolding in front of our eyes that not many have identified. Even more profound I’d argue then the inception of the Internet. You could say people don’t see the forest because of the trees.

Continuo reading:
https://medium.com/@btc_alex/what-they-arent-telling-you-about-blockchain-22d3cbc1a80

Do you think blockchain is a viable alternative to governments and central banks?

[1715565818]

1715565818

[BADecker]

The blockchain needs to be maintained in place for it to be effective. Even with a partial Internet break, where the Internet is not active in all countries simultaneously, there would be a split in the blockchain... a split into possibly many blockchains.

Internet integrity must be maintained for there to be blockchain integrity. Not so with the banking system. If the banking Net went down as a unit for 6 months, it could be reunited easily. Not so the blockchain.

[matrix zion]

I don't understand the title

"What they aren't telling you about the blockchain"
But... Everyone is saying that
That's the main reason blockchain exists!
That's to issue the power and control of currency to the people.
Oh it's nothing magical. The problem of decentralization are numerous because decentralization means the lack of control by any global entity. You can spit on governments as much as you want but they are the ground of numerous processes much more efficient that anything created by individuals: education, health, transports...

But yeah of course the goal is to get rid of the banks in the end ^^

[Mr. Net]

I don't understand the title

"What they aren't telling you about the blockchain"
But... Everyone is saying that
That's the main reason blockchain exists!
That's to issue the power and control of currency to the people.
Oh it's nothing magical. The problem of decentralization are numerous because decentralization means the lack of control by any global entity. You can spit on governments as much as you want but they are the ground of numerous processes much more efficient that anything created by individuals: education, health, transports...

But yeah of course the goal is to get rid of the banks in the end ^^

I don't think everyone is... especially with all the new people arriving in the community.

Government processes are about 1/3 as efficient as its private counterparts. This has been proven over and over again.

They just make it seem otherwise by printing the money to pay for it and pushing inflation.

[Proton2233]

The government at the expense of Central Bank policy may get a lot of money to support the economy. On the blockchain it is impossible to take more coins than they have, and it does not give rise to inflation, but such an approach could destroy the economy of any country. So the blockchain is not suitable for the country's financial system.

[Mr. Net]

The government at the expense of Central Bank policy may get a lot of money to support the economy. On the blockchain it is impossible to take more coins than they have, and it does not give rise to inflation, but such an approach could destroy the economy of any country. So the blockchain is not suitable for the country's financial system.

How would it destroy it?

[Idrisu]

I so mush like this quote from the article " with Blockchain the public own and control the money" this system is quite different from what we were introduced to by our governments were government own the money and central bank can control and manipulate its values at will. I believe it will be like duplicate of what is happening in heaven on earth.