Do we need blockchain technology?

[Duzter]

This is far apart from innovation. Bitcoin as an investment asset holds different value based in the usage. Specifically. Just through the blockchain technology bitcoin has got grown and reached such a position in a short time period that none expected during the early days of bitcoin's existence.

[futuret]

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.

Well actually the ICOs projects depend on the purpose of all the users and not all of ICOs are shitcoins, if we want makes smart contract ethereum can be choosen and other altcoins that can gives smart contract service, maybe we still don't need technology of blockchain but the world change too fast, the blockchain will be needed on the future and steemit, ethereum even bitcoins are still beta. They need more fixing on the future.

blockchain technologies is a very important technology for a lot of the people because it is not the technology of the bitcoin or the crypto currency only but the currency of the whole world so it is the reason blockchain is very important for us. Even the small level of the campaign are using blockchain now for their activity work such as small banks and many others  I think blockchain is a very progressive for a lot of the campaigns.

[drachman]

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.

Lets be honest with ourselves. The big reason why we are interested in blockchains and cryptocurrencies is because we could sometimes make easy money with it. These markets are very volatile and the volatility makes them profitable to trade if you know what youre doing.

As far as needing blockchain technology? No, we dont really need it yet.

Without the blockchain bitcoin will be impossible so I have to disagree there, in fact many other entities like blockchain better than they like bitcoin.

[yoseph]

One can't deny that the blockchain technology is the future of the world, lots of government agencies are adopting it all over the world and even some banks if my sources are right are implementing it as well.

[drachman]

Yes, the blockchain is the single most important tech in a generation. It can be used for a lot including energy, law, government, healthcare, etc, etc.

Not to mention that bitcoins rely so mich on it that it cannot live without this technology. Yeah and also most coins really rely on some sort of blockchain technology too. we cannot deny that it is so important to the cryptocurrency world. Now it seems like the world is adopting blockchain technology too as a way to improve current technology.

Without the blockchain bitcoin will not be here so that is testament to the great importance that the blockchain has in our lives without it we will not have the chance to be in bitcoin and the potential profits that it will bring to us.

[Dudeperfect]

I respect your opinion but I beg to differ with your statement, I don't think that Blockchain is useless at all. We might not see the practical use of it as of now but banks are trying it to use blockchain to reduce their transaction cost. Blockchain has a scope in most of the sectors,

* Putin’s Advisor Announces Creation of Russian Blockchain Association.

* Ukrainian Government to Start Blockchain Land Registry Trial in October.

* Blockchain technology may give Russia its next Sputnik moment.

I am optimistic about this technology and I believe we will be using Blockchain in multiple sectors in the coming years. It might take a decade too.

[hatshepsut93]

The market will decide what is needed and what is not when it compes to blockchain apps. Right now lots of altcoins in their ICO's have some big value given as a credit to them, but very few present any real working results, and many of them are far away from 100% realization. Take even ETH for example - do you know any working smart contract apps? The first time they have tried to build something with it, the DAO fiasco happened. But what it is even worse is those private blockchains - they have almost nothing in common with Bitcoin and just trying to steal it's brand.

[Alpinat]

what is this statement there are so many ways that blockchain can only provide and we all know that without blockchain all of the btc holders will be crying by now, the altcoins are different but also we all know that without blockchains altcoin can do their own system.

[youngagethinker]

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.

on point here. Blockchain technology is not all about currency, it offers a brand new technology that is feared by some politicians and bankers. From Email to currency to social media and other systems like agencies and programs ,blockchain technology can coexist there. This is a trillion worth technology and we must not underestimate this. Its true that some are taking advantage of it and making some promising overview of project but in the end what they really want is the money that's why they are making some shitcoins or a coin that is once a gold but left out alone by its supporters.
On the other side of the moon imagine a very big company like Microsoft Giant build a really big platform that is using the blockchain it would improve their system exponentially especially when they've created a coin that can be mine.

[Astvile]

I think thats not the problem,yeah there are shitcoins and shit icos that are now spreading (some are scam most likely) but its not the fault of blockchain technology,all developers have money and rights to create their own currency that is under etherchain or blockchain

[Fafabol]

Blockchain can be used in a lot of things, you fail to see how it can be so powerfull to use this technology

So true. Without blockchain we don't have bitcoin.
Just because of many alt coins now that are easily made so some coins now are getting less valuable.
Always see the brighter side of everything and stop looking the weaknesses.

[Sled]

We need blockchain technology because in the future it will play a big role because we can use it to do things virtually and we don't need to set things physically like payments because with blockchain technology it is now very easy to get things done because it is already in the internet and the hassle is not a problem anymore for the future generation.

[syaripudin]

Why should I not think blockhain technology is a very good breakthrough for the progress of a project. but it all takes a process and I do not think it will be as easy as it sounds. blockhain technology is a process that uses internet network and I think not everyone will accept this quickly. because not everyone can understand about the technology need to realize about blockhain technology to all circles, especially among the parents who are very much who are not so interested in systems that use technology.

[kevpantof]

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.

Actually, blockchain is very useful to us isn't?  especially when it was not that lag before. When it was easy and fast unlike what we have now. We do not need to make some wrong thinking about blockchain because it helps us alot in transacting coins.

[webtricks]

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.

It is nowhere written that blockchain technology is limited to cryptocurrency projects.
Let me give you example of most used and famous financial institution - BANK.

Starting with total expenditure. In one study it is proven that if bank transfer their data from random softwares to blockchain and operate completely on it, expenditure will decrease by 80-90%. If so happen just imagine interest rate, they will shrink within 5% or less!!

Coming to lack in accuracy and paper work. Both will become history if banks completely switch to blockchain.

It is wrong to weight potential of blockchain technology just in ICOs and cryptocurrencies. There are much more areas to explore.

[ocid]

the development of bitcoin technology is able to give birth to a unique method to record all financial transactions to date, the technology is named as blockchain technology. of course blockchain technology is very important because blockchain technology is a technology that moves behind bitcoin.

[BitFinnese]

the development of bitcoin technology is able to give birth to a unique method to record all financial transactions to date, the technology is named as blockchain technology. of course blockchain technology is very important because blockchain technology is a technology that moves behind bitcoin.

I believe blockchain already exist even before Bitcoin were created, it was been used by banks and other offices for record keeping but the first decentralized blockchain was used by Bitcoin.  Without blockchain technology, I do not think that institution will properly record the information they had gathered.  So yes I believe that we need blockchain technology in order for us to move forward and information and technology to evolve.

[aardvark15]

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.

I think the answer is that we only need a coin if it provides something beneficial that other coins cannot. Some coins have faster transactions or serve a different purpose or have lower fees. So the blockchain technology is not necessary.

Blockchain technology is groundbreaking technology but not all coins need to be built on it. They can come up with a new innovation or purpose and still be just as useful as Bitcoin.

[romero121]

Blockchain technology is a must, because it's been a confirmed statement that it's an innovative technology that has given higher efficiency. Just based on the perfect functioning without flaws Blockchain technology was getting implemented into different sectors and bitcoin too is gaining more popularity because of the technology behind it.

[ssuchy]

Blockchain technology is a must, because it's been a confirmed statement that it's an innovative technology that has given higher efficiency. Just based on the perfect functioning without flaws Blockchain technology was getting implemented into different sectors and bitcoin too is gaining more popularity because of the technology behind it.

I do not think that the technology of blocking is bad thanks to itself, because it has already become clear that all banking institutions and even state organizations are trying to introduce this technology into their system. Apparently there is such a merit with which they want to feel much simpler and more secure.