Why everybody is doing blockchain?

[nvedia]

Why everybody is doing blochain?

I feel the world is already doing good.
Our internet speeds are good, hospitals are doing good, insurance is working and so are the schools, flights and education

Why there is so much hype about blockchain and decentralization all of a sudden?

If insurance industry or banks are storing the transaction information in a central database/system and its been working fine so far and there is no double spending problem
, how would making it decentralized help so much?
Atleast from end user/customer it really doesnt matter as long as the information stored is accurate and transactions are going fine (which is already happening)

Agree that in the past, lot of hacking attempts happened (the big retail store credit card, credtit rating hacked etc) but these problems would still exist even if we do blockchain

May be I did not understood the concept of blockchain. Does anything changes drastically for me, the end user?
I would be still going to website to book my flight tickets or go to centers to write exams or get my insurance claims or be dependant on the banks for withdrawing my money etc
Please provide any links or articles to read which explains it in layman terms on what is really changing and what the sudden splurge of devs/companies are really doing

[avilsd]

Nothing changes drastically, unless you make good use of it. A lot of people are now just beginning to understand the serious potential with this (in terms of money) so that's why everybody is excited. Suddenly when you have an overpriced industry promoting some strange concepts, everyone bats an eye. Now not everything is worthwhile, but there are generally some projects to focus on.

[Bukx]

This is new era of blockchain and world need changing to be better than.
Then how we will if centralized is good or better if we dont try the decentralize. World will always change so if dont follow it then we will be in the back for sure. Thats the reason why people doing blickchain.

[cipher-x_09]

Because in our society today we accept changes as everyday part of our life just like how our cellular phones improve from time to time, like for example from iPhone 7 to iPhone X this year, the same goes for our every day of living of life people will need to find a way to improve our daily to help our life be a better and much more comfortable.

[TomUyamot]

Well, let us just say that this is just an option which people may choose if they want to. If they do not want it then there is the traditional way of doing things. Blockchain is unique in that it is a public document so to speak. It is a ledger of transactions, all transactions, that can be accessed publicly by anyone. That means, the blockchain technology is the most transparent of all. And then the blockchain will only show wallet addresses, which means the real identity of the people using it is kept out, it is not known. And again, there is the issue of the banks and its system which practically monitors everything happening in the financial world. Crypto, along with blockchain, lets you get out of it.

[prlelbnwh]

In fact, bitcoin, ETH and DASH have made the whole blockchain relatively complete, and I think most people are passionate about the blockchain because of their interest because the industry is so easy to make money

[jseverson]

Agree that in the past, lot of hacking attempts happened (the big retail store credit card, credtit rating hacked etc) but these problems would still exist even if we do blockchain

Well I haven't heard of blockchains being hacked yet, so I wouldn't say that for certain.

Either way, the blockchain is a new way of doing things. It has proven to be effective at promoting decentralization and transparency, and is lauded for that very same potential. It's poised to be the "next big thing", and people are starting to realize it. Companies are going crazy over it because there is no clear cut leader yet. The one which ends up at the front of the pack will earn a significant fortune for sure.

You don't have to use it right now, because it's simply an alternative at the moment, but it may be revolutionized to run most of everything in the future. You never really know.

[Yamifoud]

In fact, bitcoin, ETH and DASH have made the whole blockchain relatively complete, and I think most people are passionate about the blockchain because of their interest because the industry is so easy to make money

I know lot of people are getting curious about this technology and of what they have hear and read from news probably drives them into crypto world. Not exactly that all of us are engaging crypto because some of us are still doubted about is existence and really don't know how it works for us.

[gentlemand]

Cos it's a cool sounding word. I remember someone here talking to finance people at a tech conference. They all adored 'blockchain' but didn't actually know what it meant or what it was supposed to do.

Expect 99.8% or more of current ICOs, businesses and proposals to never amount to shit.

[Wyne]

Why everybody is doing blochain?

I feel the world is already doing good.
Our internet speeds are good, hospitals are doing good, insurance is working and so are the schools, flights and education

Why there is so much hype about blockchain and decentralization all of a sudden?

If insurance industry or banks are storing the transaction information in a central database/system and its been working fine so far and there is no double spending problem
, how would making it decentralized help so much?
Atleast from end user/customer it really doesnt matter as long as the information stored is accurate and transactions are going fine (which is already happening)

Agree that in the past, lot of hacking attempts happened (the big retail store credit card, credtit rating hacked etc) but these problems would still exist even if we do blockchain

May be I did not understood the concept of blockchain. Does anything changes drastically for me, the end user?
I would be still going to website to book my flight tickets or go to centers to write exams or get my insurance claims or be dependant on the banks for withdrawing my money etc
Please provide any links or articles to read which explains it in layman terms on what is really changing and what the sudden splurge of devs/companies are really doing

When bitcoin or crypto-currency was introduced by Satoshi Nakamoto way back Year 2007, His white paper proposes that  each piece of bitcoin contains equivalent hash.  The number of bitcoin circulation will only reproduce through generating hash (in bitcoin developer terminology means solving complex mathematical problem). It was called bitcoin mining(or crypto currency mining). Everybody can connect in bitcoin network and can contribute in generating hash (peer-to-peer network).  In simple term, bitcoin is just a number in computer with equivalent hash instead of gold.  In the present system, Federal Reserve can add number of dollar in the circulation through the changes in number saved in computer.  

Each computer are connected in bitcoin network and generate hash (bitcoin mining) called node.  Each bitcoin transaction is register in node.   Since bitcoin transaction is in the node, each node became and serve as your bank.  

Bitcoin is an open source (anybody can access its technical details on how bitcoin works) and peer-to-peer (anybody can create a node or bank).  So, we can consider that the intrinsic value of bitcoin is "trust and confidence" just like flat.  Some of us receive our salary or payment through bank.  We paid service charge in the bank to save in the computer the number that is equivalent to our money (flat value).  If the bank or the government declared bankruptcy, our money will disappear just like a bubble.  

Crypto-currency  is a system of currency that is decentralized meaning nobody (government or bank) controls it.  Meaning, there will be no service charge or bank charge will be deducted to you everytime you made any transaction.  In short, through cryptocurrency, you do not need bank because you have and can create your own bank.

Just like what happen in the past, the mode of transaction drastically change from gold or earth metals into flat,  in the next generation, flat will be replaced by crypto currency as anew currency.  It may be difficult in the start but sooner or later, people will be at ease in using it. The only advantage of those people who believes and invest as soon as bitcoin currency introduced is of course they are wealthier people compared to those who do not believe.  
 

[wilhb81]

No doubt that blockchain technology is the main portal for digital currencies. It changes and alter the perception of people, especially for those that want to seek decentralized solution. Together with the combination of Fintech - It's only the beginning chapter of digital currencies and will get better in near future

[Cryptohad]

In fact, bitcoin, ETH and DASH have made the whole blockchain relatively complete, and I think most people are passionate about the blockchain because of their interest because the industry is so easy to make money

yes, I agree with you, because block chain is easy to give profit. not just DAsh, ETH, but also BCH.

[Cimmy_revenger]

blockchain is an undeniable technology. all data in blockchain is valid and can be accounted for its validity.
even a hacker if he want to damage the system he has to hack all the servers.

[rickn]

Blockchain makes solutions to the world's problems easier to find. It is a technology that can be employed in any type of activity, is safe, transparent and fast.

[orka39]

In fact, bitcoin, ETH and DASH have made the whole blockchain relatively complete, and I think most people are passionate about the blockchain because of their interest because the industry is so easy to make money

Yes, people doing blockchain because this technology make us earning money.
Its not matter about bank i think but i can make money with this technology that the most important for me.

[Lei Crypto bounty]

Why everybody is doing blockchain?

if you understand the usage of blockchain you'll be amazed on how and what can
it help on every person, company , country that going to adopt the blockchain,
Blockchain is like a universe it's so vast and unlimited Blockchain is like a hardisk space that
doesn't end , blockchain can help to reduce the tree cutting and uses of papers around the world
because it can be used on transaction keeping no papers needed it can save a lot on a company or industry.

Blockchain is the key on the more chance of improvement , more faster transaction , cost cutting on some legal documents by printing or producing more papers.

Block chain is still on it's early stage this is the sign that bitcoin value are on it's babe state.
of course and surely if people understand it many will adopt it's technology and will result on
bitcoin value to increase more..

invest now it's still not late to jump in.
Blockchain is one of the amazing technology invited by man or company.

[gabbie2010]

Adoption of blockchain technology by people is simply because they wanted to be anonymous in all aspects of their activities e.g insurance, banking, hospitals e.t.c blockchain is the solution due to it's decentralized feature people don't like exposing their identities and details in business or commercial activities any longer.

[Twinkledoe]

Cos it's a cool sounding word. I remember someone here talking to finance people at a tech conference. They all adored 'blockchain' but didn't actually know what it meant or what it was supposed to do.

Expect 99.8% or more of current ICOs, businesses and proposals to never amount to shit.

Yes, everyone is trying to join the bandwagon of blockchain even if they don't know well how it works. It's like you are cool if you know something about blockchain. And businesses are trying to integrate the blockchain in their operations because this is another way of avoiding big expenditures like taxes, transaction fees and others.

[emmmmm]

Blockchain can make all kinds of transactions public, so I think the blockchain is an innovative technology, and we are lucky enough to witness the future.

[Adv Tahmina]

It is a technology  that can be employed in any type of activity, is safe transparent. It changes and alter the perception of people.People doing blockchain because this technology makes us earning money.A lot of people are getting curious about this technology.