Blockchain will help Economy.

[waqasniaz007]

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.

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[jaysabi]

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.

These "benefits" are marginal at best over the current system and far overshadowed by the fact that Bitcoin is an unreliable store of value, and represents no safety for long term value storage. Nobody is going to use a system that cannot reliably store value because it has low to no utility. The "benefits" you describe disappear entirely in a system that offers no ability to store value. As a currency, Bitcoin has extremely limited utility centered around niche applications that may be time sensitive and little else. If you transact any significant amount in Bitcoin, you need to convert to a stable currency like the USD immediately to prevent undue risk of value loss from holding a volatile currency like BTC.

[mostkey]

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

[Lagrood]

Yes, similar ideas was discussed much times. I agree that due to crypto technologies economics will changes a little but I would like to pay attention that it will be changed the financial sphere. Crypto technologies are also useful for business.
What baout macro economics that I am sure that crypto technologies will change it sufficiently.

[mrcash02]

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.

[Psynthax]

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!

[a2offrb]

An interesting part of this Blockchain Technology which I cherished and and adored mostly is the Transparency integral part of the system, where the work of one agent is viewed or can be viewed and vetted by every other agent at the BlockChain for Accuracy and Accountability purpose for same targeted result.
This alone is what the Economy needs, when no funds can be siphoned or altered for self aggrandizement. Then the economy becomes fair egalitarian cut shot of being regressive or unevenly funds distribution across all Development or human quarters in the Economy.

[BLTC]

I really love the fact that blockchain technology will play a major role in our economy. Imagine what will this provide in terms of our business process. Corruption will be minimize in terms of the process. It will be cost effective as middleman will be remove, digital transaction will be faster and more efficient. It will create many opportunity. I strongly believe that this technology is for the masses and not only for the big companies.

[darkphoenix2610]

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.

[creeps]

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

And another entry in a world of blockchain technology is the EOS that is trying to compete with the bigger one. This is a great revolution towards a brighter future, blockchain technology can really help one economy to be advance to the other and to sustain their power in the coming years. I hope that every country will adopt this system because this is really the key for a greater economy especially for the 3rd world country.

[KingScorpio]

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.

uhm jes it will help economy but it will also open a lot of question

the biggest one:

who and why is someone allowed to threat someone else as his money earning cattle.

regards

[mOgliE]

Not at all. Blockchain will destroy economy xD

You know how automation is responsible for our society transformation but also for the mass unemployment we currently have? Well blockchain will be even worse.
With the combinasion of both robots and blockchain.... There is nothing you can't automize!
Moreover blockchain has this horrible idea of being available both for industry and services while automation is mainly on industry.

It's going to crush al that ^^

[alizalela7]

I think that block technology is so much a boon to the economy that it is the basis for many of the applications that can be developed and based on that the application of which will benefit the economy of the country.

[jhongzjhong]

Not at all. Blockchain will destroy economy xD

You know how automation is responsible for our society transformation but also for the mass unemployment we currently have? Well blockchain will be even worse.
With the combinasion of both robots and blockchain.... There is nothing you can't automize!
Moreover blockchain has this horrible idea of being available both for industry and services while automation is mainly on industry.

It's going to crush al that ^^

This idea was also in my mind, not all economy has a good effect on blockchain there is also negative side brings by blockchain technology that makes more worse if ever. Once you have got error transactions on this technology no more trials it is finalized and you can not automize on which where you are a mistake.
Indeed, this technology now had a great function to our society and it will help to our economy as well.

[chocolaty]

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 is one good feature of blockchain - transparency among users. This could be best applied not only in businesses but also in governments. This may help reduce corruption because transactions are accessible by the public. It will be difficult for illegal transactions to be accomplished in firms and governments. Adapting into this new technology proved that our world is evolving. It is best to use this technology for the best to maximize its capabilities.

[realcrypto]

We're in a digital age, blockchain will widen the scope of digital operation in any country that uses blockchain. Blockchain will reduce cost of  production.

[0t3p0t]

I really love the fact that blockchain technology will play a major role in our economy. Imagine what will this provide in terms of our business process. Corruption will be minimize in terms of the process. It will be cost effective as middleman will be remove, digital transaction will be faster and more efficient. It will create many opportunity. I strongly believe that this technology is for the masses and not only for the big companies.

I agree with you mate because corruption can lead to bankruptcy and that is why we need such blockchain technology for a better and successful economy. Here in my country we need blockchain technology for a transparency. I love it when our government had embraced it as they can also see a potential in terms of cryptocurrency investments that is now on trend all over the world. Therefore, having blockchain technology in a specific country, I believe that it can slowly and surely boost an economy.

[Direwolve735]

Blockchain technolohy will eliminate the need for centralized institutions such as the bank and government to simplify trade relations, turning the traditional financial and commercial model into something more interesting: a distributed, transparent, autonomous system for moving funds. Blockchain gives us the technological ability to create records of all human trading relations, currency exchange, all kinds of digital and physical assets in a completely new way.

[gabbie2010]

That feature of "trust" makes blockchain technology outstanding and its decentralized features also its capability as a solutions to the societal problems e.g chain supply, voting system e.t.c will triggers massive adoptions of this technology although there are a lot of hurdles to be crossed to enable this technology to fully rooted globally.

[charlotte04]

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.