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Author Topic: Blockchain will help Economy.  (Read 1002 times)
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June 10, 2018, 08:02:04 AM
 #21

Blockchain was imagined as an approach to guarantee the dependability of the digital currency Bitcoin. It is a genuinely basic idea, an advanced record that record all exchanges that happen inside its framework, much like any firm or individual monitors their funds. The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.
This has expansive ramifications crosswise over numerous businesses. Not exclusively will it cut expenses and enhance proficiency by evacuating outsiders, it additionally considers far more noteworthy adaptability by giving exchanges which are an unchangeable reality, which can encourage the sharing of accounts. For instance, blockchain can enable companions to share protection, or neighbors to have a similar vitality contract and guarantee that everybody pays for precisely what they utilize.

I really believe it that it would really help us so. Blockchain is the new technology that would certainly have a great impact in the community for the future.
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June 10, 2018, 08:54:38 AM
 #22

But you did not actually explained how this will help the economy to grow ? Anyway, I do think that blockchain will have lion share in the future to come as the advances takes place over it. As we see how ICO projects are evolved on this blockchain, in the similar manner it will happen that government and bigger private sectors will take help of the blockchain to solve their problems and thus help themselves grow. As they start growing this will automatically bloom their businesses and thus in turn they will also help grow the economical transaction to get healthier.

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June 10, 2018, 09:09:05 AM
 #23

yes you are right blockchain will help the financial and economic conditions around the world, because blockchain able to record all existing transactions and everything is very trnasparan so very safe and comfortable if used for the world economy.

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June 10, 2018, 09:11:44 AM
 #24

Blockchain is eficient technology and it will help company to save more cost. If many peoples or company can save more money, they can spend it or will more investing in other bussiness.
Technology always helping economy because technology will make life more easier

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June 10, 2018, 09:13:13 AM
 #25

Blockchain technology also improves business more personalized. The Gem Health Network, launched by Gem startup, uses Ethereum technology to create a secure data sharing infrastructure for the health space. Hospitals can share medical records safely and efficiently through Blockchain, helping patients get more personalized and effective care.
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June 10, 2018, 09:19:23 AM
 #26

This is indeed a proof of the revolution of the rise of the digital age. While all individuals are starting to compete to develop eth-based token projects that are supported by the blockchain system to be one of success in this century

Yes bitcoin can help the economy of a certain country , it can improve everything, technology, lifestyle and even the lives of the individuals living that country.
Blockchain technology now applies not only to BTC, but also to many economies, now the business of large corporations, multinational companies have adopted blockchain technology and resounding success. , which is the starting point for the future technological boom.

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June 10, 2018, 09:27:36 AM
 #27

The country that I belong to has not started using digital wallets. People don't have any knowledge about the cryptocurrency and those who do are still afraid of using the technology as they fear they will lose all their investments. Also, problems like money laundering and other illegal activities are keeping the crypto world from growing further. There are other challenges here and there as well and if the government can come out of a solution regarding this, blockchain technology will surely help the economy.

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June 10, 2018, 09:46:09 AM
 #28

Blockchain was imagined as an approach to guarantee the dependability of the digital currency Bitcoin. It is a genuinely basic idea, an advanced record that record all exchanges that happen inside its framework, much like any firm or individual monitors their funds. The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.
This has expansive ramifications crosswise over numerous businesses. Not exclusively will it cut expenses and enhance proficiency by evacuating outsiders, it additionally considers far more noteworthy adaptability by giving exchanges which are an unchangeable reality, which can encourage the sharing of accounts. For instance, blockchain can enable companions to share protection, or neighbors to have a similar vitality contract and guarantee that everybody pays for precisely what they utilize.
the presence of Blockchain system at this time indeed I think is very helpful in various aspects of life, especially in the economic field. Where if applied this blockchain system makes transactions easy and transparent
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June 10, 2018, 09:47:10 AM
 #29

Blockchain was imagined as an approach to guarantee the dependability of the digital currency Bitcoin. It is a genuinely basic idea, an advanced record that record all exchanges that happen inside its framework, much like any firm or individual monitors their funds. The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.
This has expansive ramifications crosswise over numerous businesses. Not exclusively will it cut expenses and enhance proficiency by evacuating outsiders, it additionally considers far more noteworthy adaptability by giving exchanges which are an unchangeable reality, which can encourage the sharing of accounts. For instance, blockchain can enable companions to share protection, or neighbors to have a similar vitality contract and guarantee that everybody pays for precisely what they utilize.

In my own opinion, block chain will not help the community but it will help different miners to earn more cryptocurrency if they are going to improve the technology in the future.

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June 10, 2018, 10:15:37 AM
 #30

The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.

Yes, it's very transparent and reliable. Several countries have their "transparency portals", where people access the records of their public administrations online. It's good and useful, but a system like Blockchain would bring much more reliability and transparency to the citizens.

I also like the idea because an adoption like that would cut worthless expenses on the public administrations. Less employees would be needed, so more money could be used for what really matters and isn't having enough budget at this time because there isn't enough money to sustain a heavy payroll and to attend the basic sectors of society at same time.
If the government apply blockchain for infrastructure development, I'm pretty sure that it will get rid of the corruption since it's transparent, as people have known for a long time that infrastructure development which takes up majority of the country's budget often being used as a tool for corruption but blockchain with its transparent open ledger will simply stop it, public will know where the funds are moving, so that there's basically no chance for people to go corupt, I must say that such thing will help improve country a lot!
Definitely! We are witnessing a new era, blockchain will help in all aspects of the economy and will contribute to technological advances in its implementation. Corruption has taken over many nations and has not allowed it to develop, it has left many deficiencies to its citizens. It's blockchain time!

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June 10, 2018, 10:21:48 AM
 #31

Blockchain online technology is used as a medium of transaction. It was discovered in 2008 to use Bitcoin, but now Blockchain has started using other firms. This is a very good medium. It is possible to make money transactions in different parts of the world at a very short time by using blockchain transactions. I believe that Blockchain is helping economic development, so gradually all the institutions are using it.
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June 10, 2018, 10:23:18 AM
 #32

yes you are right blockchain will help the financial and economic conditions around the world, because blockchain able to record all existing transactions and everything is very trnasparan so very safe and comfortable if used for the world economy.
What do transactions have to do with the economy? Transactions are just a transfer of money. The main engine of the Economy is to obtain the added value of production. In this sense, cryptocurrencies have no impact on the economy. In many cases, crypto currencies compete with Fiat and inhibit the development of the economy.

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June 10, 2018, 10:30:53 AM
 #33

Those who are looking to blockchain for a huge change in he economy i think they should think about the time span first because all things changed with time and it is true that blockchain is done a lot for the betterment of the economy and the economy condition could be more better if every country allow crypto currency and their business every where.

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June 10, 2018, 10:55:31 AM
 #34

Those who are looking to blockchain for a huge change in he economy i think they should think about the time span first because all things changed with time and it is true that blockchain is done a lot for the betterment of the economy and the economy condition could be more better if every country allow crypto currency and their business every where.
Its like that, its always about time period, it cant happen over night. That is where most investors fall or lose enthusiasm, they expect everything to happen very fast. Blockchain is here only for a short time, it will take time before blockchain get fully into economy, it will happen one day, its going in that direction, blockchain is taking part by part of it, and I think it will conquer all economy one day, it will change it from the roots.

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June 10, 2018, 11:06:28 AM
 #35

Blockchain can really have a positive impact on the economy of the state. All its advantages have already been said a lot. This is especially true of States with low levels of development. There is no opportunity to earn big money because industry is not developed and people survive at the expense of agriculture.Blockchain technology will enable such countries to develop economically and financially .This will attract the infusion of Finance into the country.

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June 10, 2018, 11:19:16 AM
 #36

Blockchain was imagined as an approach to guarantee the dependability of the digital currency Bitcoin. It is a genuinely basic idea, an advanced record that record all exchanges that happen inside its framework, much like any firm or individual monitors their funds. The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.
This has expansive ramifications crosswise over numerous businesses. Not exclusively will it cut expenses and enhance proficiency by evacuating outsiders, it additionally considers far more noteworthy adaptability by giving exchanges which are an unchangeable reality, which can encourage the sharing of accounts. For instance, blockchain can enable companions to share protection, or neighbors to have a similar vitality contract and guarantee that everybody pays for precisely what they utilize.

Blockchain is a digital decentralized register that allows you to register transactions without intermediaries, such as banks.
It is possible to emphasize advantages: cost reduction and speed of calculation, decentralization and transparency.
All Blockchain data is widely available and complete, protected and secure.
But the main problem is that it takes a lot of time to implement the technologies on Blockchain, it can take several years, although the cost of technologies is estimated now. This is the risk, you can make a profit, and you can and losses.
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June 10, 2018, 11:21:45 AM
 #37

Of course applying/integrating Blockchain technology to businesses and also the government system of a country will be good for the economy. It will tremendously improve efficiency on both ends as going through the process from manual to digital will help our development be on par with what we all are doing. Also the ability of being transparent is also there, having this kind of technology accessible to the public will help us avoid any kind of corruption, and of course we must always limit the information availability as some information are really sensitive and is vital for a country's national security.

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bowals
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June 10, 2018, 06:35:41 PM
 #38

I agree with this. It also has more widespread use. Because of its open access, it can prevent leaks due to corruption and likes since the ledger is available to everyone to trace. Therefore funds can be trace right from the source of generation to utilization.
mackenzied
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June 10, 2018, 06:46:07 PM
 #39

Blockchain was imagined as an approach to guarantee the dependability of the digital currency Bitcoin. It is a genuinely basic idea, an advanced record that record all exchanges that happen inside its framework, much like any firm or individual monitors their funds. The distinction is that the record is freely accessible to all individuals in the framework, making it difficult to adjust records without being recognized. This implies individuals can assume that money related records are totally exact without relying on a reliable outsider like a bank, a legislature or an application to affirm it.
This has expansive ramifications crosswise over numerous businesses. Not exclusively will it cut expenses and enhance proficiency by evacuating outsiders, it additionally considers far more noteworthy adaptability by giving exchanges which are an unchangeable reality, which can encourage the sharing of accounts. For instance, blockchain can enable companions to share protection, or neighbors to have a similar vitality contract and guarantee that everybody pays for precisely what they utilize.

I will give you a merit on this matter. Blockchain and its benefits to life are undeniable. With blockchain technology, we can apply a series of problems in practice. But for now, the purpose of its application is not really true.

mostkey
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June 10, 2018, 08:41:48 PM
 #40

This is indeed a proof of the revolution of the rise of the digital age. While all individuals are starting to compete to develop eth-based token projects that are supported by the blockchain system to be one of success in this century

Yes bitcoin can help the economy of a certain country , it can improve everything, technology, lifestyle and even the lives of the individuals living that country.


and what becomes difficult is when we have to try to show the strength of crypto and blockchain bitcoin in helping the economic side of the country. so that this unbelieving country can participate in adopting btc

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