Do we need blockchain technology?

[stunvn]

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects  that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.


Please enlighten me.

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[sindikat]

This is not so. Blockchain technology is an essential step to real democracy. Of course the government would be against it, but it all depends on people. For example, based on the blockchain, you can build a system of elections and recall of politicians. And much more.

[maku]

We need blockchain technology it is something new unique and beneficial. Do we need all shitcoins and useless project based on blockchain technology? Not really.
But market and life will verify everything, worthless projects will be abandoned and die out, there is no need to worry.
I am sure that people were asking the same thing about the internet - why do we need it when there are so many useless websites around?

[Seansky]

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.


Please enlighten me.

Even if a project is similar to something that really exist in real life that doesnt use blockchain tech, it would be easier for crypto users to use the one with blockchain system on it. An ad management system on blockchain would put ease to those who would like to advertise on faucets or crypto related blogs. It also applies for others although you are right that many shitcoins are just shit projects not ever worth using and has no use in real life and one great example is your example on social networking on blockchain because like you I think cryptoworld does not really need it.

[SvenBomvolen]

The Bolckchain technology has shown to us that it is universal technology for use not only by digital currencies' projects. I heard that some ordinary companies start to use Blockchain technology in their activity, such as garbage utilizing fabrics and banks. I think if the technology would not show itself from better side they all would continue to use old methods in their work. But Blockchain is not just a fashion word, it is a really progressive thing which can be used in many process around us and our life.

[Carlsen]

Of course we need blockchain technology.
I really do not know much about coding, but the blockchain technology is something that makes storing information safer and protects it from being altered.
That is something very important in the IT business.
Many businesses try options to use this technology for their purposes, sooner or later we  will see it in many forms in our every day life.

[NeuroticFish]

Please enlighten me.

There are indeed a lot of coins (with their own blockchain), a lot of tokens (which use established coins' block) indeed.
Many are useless indeed.
But some bring innovation. Some are good projects. Some are just competition to existing projects. All these are good. Innovation will bring some blockchains closer to perfection, competition between projects (businesses!) is good since will bring you a better "product" or a better price.

You said there are FB ads and Google ads. Why not more? Some will pay better, some will bot be so intrusive, I don't know.
If there would be only one bakery chain in your country, you'll buy the worse quality and most expensive bread. Is that what you want?!

[cellard]

What we need the most is a decentralized store of value. We are going to need this specially on times of total chaos when it comes to fiat money in general. The geopolitical situation is tense. World War 3 isn't that far fetched at this point. I hope it doesn't come down to that, but it's a possibility.

What we need is decentralized gold, not a way to buy some starbucks coffee. Bitcoin is our decentralized gold, and we must protect it, by fighting the Roger Vers, the Mike Hearns, and the Jeff Garziks of this world, and anyone that wants to hardfork it into a mess for that matter.

[Xavofat]

All this ICO bollocks is very new.  A year ago, most ICOs would at least be vaguely legitimate projects with a real goal.  Currently due to crypto's massive rise, people are trying to hop on and make loads of money from lazy looking whitepapers and simple projects.

This current mania and unnecessary bull market does in no way detract from the importance of blockchain technology.  The following are just a few ways in which its decentralised verification can be useful:

-Transparency in banking and the creation of money
-Transparency of democracy (please read this PDF on the topic).
-Oracles (smart contracts which check publicly available information to create conditional payments, safe P2P gambling and other use cases, see Byteball).
-Cloud storage (not strictly using a blockchain, see MaidSafe).
-Storage of ownership records such as gun ownership which are important to be publicly available.

[eternalgloom]

It's not because we already have similar services for certain blockchain solutions that it's not a good idea to do those things via blockchain instead.
It's far better to have an honest decentralized system in place, instead of relying on some centralized authority, like Google.

Most of these blockchain solutions might not even get off the ground, but in some cases they will replace those services that are now being provided by companies who are just in it for the profit.

[iluvpie60]

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects  that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.


Please enlighten me.

We need blockchain to keep governments honest. A lot of the time we CANNOT see where the money is going, if it was spent, how much left there, how much we need, shady deals given to contractors who get paid wayyyyy to much.

IFbtc was involved in this we could easily know and see government corruptin, publically and in real time.

This especially needs to happen in the USA where lobbyists and crony capitalism happens every day

[Janation]

Of course we need blockchain technology.
I really do not know much about coding, but the blockchain technology is something that makes storing information safer and protects it from being altered.
That is something very important in the IT business.
Many businesses try options to use this technology for their purposes, sooner or later we  will see it in many forms in our every day life.

For me, without the Blockchain, there will be no digital currency. Blockchain prevents the double spending. If we will be putting bitcoin without the BLock chain, there will be a lot of people not using bitcoin maybe no one because it will be just double spent. Also, there are a lot of new technologies that making use of this Block chain, I think it will be really cool.

[HeRetiK]

Most of these projects will fail anyway. In a lot of cases blockchains wouldn't even be necessary to allow for decentralization, but obviously there's more money in issuing more or less pointless tokens. In addition to that we are seeing the beginnings of centralized / federated blockchains such as JP Morgan's Quorum, so we're at a point were blockchains are not even necessarily decentralized anymore.

It's actually kinda saddening that people only care about decentralization to the point where there's money to be made. I don't see many people hosting their own mail servers or supporting decentralized social networks such as diaspora (I think they actually closed shop anyways).

Either way, while most of these ICOs will turn out to be nothing more than money sinks, there might be a blockchain use case somewhere amongst this cesspool of hype that may actually revolutionize the world in the way that Bitcoin did. I wouldn't bet on it, but this alone may make all the experimentation that is currently going on be worth it.

[BitFinnese]

I think blockchain technology is essential, it served as a powerful record keeping of all the events and transactions.  It also save important sign message that is can only be verified by the address that created the sign message.  In short blockchain tech prevents fraud and fake or counterfeiting.  With this i believe we need blockchain technology to address trust issues.

[darkangel11]

Have you heard about blockchain voting? Or maybe about blockchain provably fair system for gambling? There are so many nice and useful projects out there.
The reason why so many projects are started on blockchain is brainstorming. People are trying out different ideas, testing the system to find what is interesting and what more can be developed. It's the same with all new technologies.

[Beerwizzard]

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects  that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.


Please enlighten me.

Ad system on blockchain could be good (if it gets popular) btcause google and fb have retarded policy but yes, there is nothing about benefits of blockchain.
A possibility to create your own shitcoin is good because it is simple af and maybe one day some small country will establish their own one and stop using fiat.
But yes, hype is real and a lot of people trying to use blockchain where centralized systems are working fine.

[nethan1btc]

Of course we need blockchain technology.
I really do not know much about coding, but the blockchain technology is something that makes storing information safer and protects it from being altered.
That is something very important in the IT business.
Many businesses try options to use this technology for their purposes, sooner or later we  will see it in many forms in our every day life.

For me, without the Blockchain, there will be no digital currency. Blockchain prevents the double spending. If we will be putting bitcoin without the BLock chain, there will be a lot of people not using bitcoin maybe no one because it will be just double spent. Also, there are a lot of new technologies that making use of this Block chain, I think it will be really cool.

On this matter here, I don't have no doubts that digital currency is the reason why blockchain existed for long years and now the networks got more stronger in terms of IT capability particularly on it's privacy. Bitcoin really needed blockchain, and without it everything will turns out to non sense and maybe there were lots of problems on the network might possibly occur. So in conclusion to that, bitcoin and blockchain can be considered as partners whose being together on both good times and bad times.

[adam1230]

Everything is changing with blockchain technology. So yes we need blockchain.
Today we are using for economic purposes but later we will see blockchain on every stage of our lifes.

[darthmaul]

Blockchain is not just limited to running the ICO projects but it is more than that. It has evolved recently during the repeat active developments. The crypto credit cards, debit cards, instant payment system are the new development going which will help us use the crypto currencies directly from the blockchain to our real world. Then you will see how important it is. If blockchain is not there then there it's like "having universe with no stars, galaxies and life in it", the empty darkness and nothing else. Just imagine blockchain the same way, it has many usage but the fact is it's not evolved to your and mine expectations yet. Just hold tight until we discover this universe for something more intelligent.

[stunvn]

Even if a project is similar to something that really exist in real life that doesnt use blockchain tech, it would be easier for crypto users to use the one with blockchain system on it. An ad management system on blockchain would put ease to those who would like to advertise on faucets or crypto related blogs. It also applies for others although you are right that many shitcoins are just shit projects not ever worth using and has no use in real life and one great example is your example on social networking on blockchain because like you I think cryptoworld does not really need it.

Thank you, now I understand more about that ad management system.

We need blockchain to keep governments honest. A lot of the time we CANNOT see where the money is going, if it was spent, how much left there, how much we need, shady deals given to contractors who get paid wayyyyy to much.

IFbtc was involved in this we could easily know and see government corruptin, publically and in real time.

This especially needs to happen in the USA where lobbyists and crony capitalism happens every day

Like an election that will accepts bitcoin?