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brawdias
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April 22, 2018, 07:05:25 PM
 #1

So basically, what are some different ways that the blockchain technology can be used nowadays, besides trading/crypto/mining

Until now I have only heard about future possibilities, but someone is actually using for other stuff yet? And for future possibilities, what do you believe is the most promising one, and why ??
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CaravanDriver
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April 22, 2018, 10:33:49 PM
 #2

All kinds of new p2p dapps. Any p2p services/communities where there's trust required yet no hard coded ways to enforce it is ripe for disruption.

For example I can write from experience with p2p delivery / logistics networks: They are really crappy right now. Because they rely on old way of keeping trust by policing the community. Which can't really be done.

We're working on fixing that with project MuleChain, and we feel that the ability to add a utility token which has value in a p2p network enables the protection from abuses to be built in the system. (vs none and attempt at enforcing.) This means huge p2p logsitics networks are now possible on paper. They weren't before.

There's also probably a lot of p2p dapps categories that are yet to be born too. Things that haven't been attempted in building in p2p even pre-blockchain.
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April 23, 2018, 07:17:50 AM
 #3

I've been exploring the possibilities and advantages of applying blockchain in Fintech.

The conclusions I came to:

1. They need no "currency" thing in private blockchains, all the API and vocabulary should be built around "consensus", "agreement" and "ledger".

2. In all the places where you have 2 or more participants who don't trust each other and need to verify the process / data interaction, blockchain is a good fit.
   Examples: collaborative decision taking, supply chain (even within the same corp), verifiable documentation workflow, public-semipublic data ledger.

3. It is often underestimated and unspoken, but the fact blockchain is set up in an organization brings in very important infrastructure which opens doors to new possibilities. I mean the fact you are giving to a bunch of people some software with private keys infrastructure and P2P network.

Would be very interested to hear more thoughts/ideas about it.

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April 23, 2018, 10:59:27 AM
Last edit: May 13, 2019, 09:34:00 PM by hugeblack
 #4

To get a clear answer, you need to know what "Blockchain" means and its relation to cryptocurrencies. from wiki
A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data.[1]

This means with the use of Blockchain, transactions between the parties can be recorded and verified without the need for a third party.
Also, once data is recorded, they can not be changed retroactively

This means that this system is suitable for recording events, medical records, documentation, tracking, identities and all types of data recording, up to the voting systems.

Satoshi showed the possibility of using the system in remittances [cryptocurrency].

Source:
#1 https://en.wikipedia.org/wiki/Blockchain

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April 23, 2018, 11:38:49 AM
 #5

for anything coded based on cryptos i think, possibly. Undecided
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April 23, 2018, 11:54:51 AM
 #6

I see nowadays, cryptocurrency is not like fiat currency we meet in our daily activities. There are two kind of cryptocurrency as utility token and security tokens. I found some more explanation of those tokens type: https://strategiccoin.com/ico-101-utility-tokens-vs-security-tokens/. One of them can be imagined as share in a company that can be traded, but in this crypto to be in digital form specially called blockchain.
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April 23, 2018, 12:50:39 PM
 #7

The blockchain system have a unique quality more than you could ever imagine and most people think the block chain was only meant for crypto currency while the block chain is also good and useful for the banking sector (this why some banks believe and assigned ripple technology).

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