What problems can Bitcoin & Blockchain solve ??

[First77]

What problems in the world can Bitcoin and blockchain technology solve ?

[pxo.011]

What problems in the world can Bitcoin and blockchain technology solve ?

well there is a lot of problems that bitcoin solved like in the economy there is a lot of unemployed people, with bitcoin they acan work on their own no boss no qouta by doing trading, they also do bounty campaigns. and most i like is money remittance that can wire money anywhere , it can also aid the problems with money.so bitcoin has  lot of problem that solved

[mocacinno]

What problems in the world can Bitcoin and blockchain technology solve ?

The blockchain technology can solve many problems. It's a decentralised, immutable, trustless ledger (database)... There are tons of scenario's that pop to mind, basically any scenario where equal partners want to create a database between them, but don't fully trust one partner to run a classical database out of fear this one partner that hosts the db would tamper with the data.

You can use a blockchain database to store insurance information and share it between insurance companies and individuals; univeristy's can use it to store hashes of grades, titles, diploma's, so somebody interviewing for a job can immediately be crosschecked about the diploma's he/she claims to have;... and those are just 2 commonly known examples.

For bitcoin, the blockchain technology solves, amongst other things, the double spending problem. By storing transactions onto a decentral, trustless, immutable ledger, people can not double spend unspent outputs without their transactions getting rejected (given that the first transaction is already included in a block at the time the double spending transaction is broadcasted).

Even the people that hate crypto currencies see the potential behind the blockchain technology

[phamhoa5874613@gmail.com]

Bitcoin can be used as a payment instrument as well as for exchange. It is also a useful investment vehicle with high profits. Blockchain is an extremely advanced security system that is gradually being introduced into the life of a smartphone

[First77]

Blockchain is a technology that allows anyone to send anyone else a piece of information, currency or data in a secure, transparent and anonymous way

[jhache]

Suppose you want to hire a freelancer and you find someone from another country, you have to pay a fee of around 3-4% while making the payment to him. Using Bitcoin you will cut out the middleman and won't have to pay such high fees. also Bitcoin provides you security and privacy while doing online transactions which you don't get with other services. Not to mention the fact that you are the sole owner of your money and governments have no control over it.

[First77]

Suppose you want to hire a freelancer and you find someone from another country, you have to pay a fee of around 3-4% while making the payment to him. Using Bitcoin you will cut out the middleman and won't have to pay such high fees. also Bitcoin provides you security and privacy while doing online transactions which you don't get with other services. Not to mention the fact that you are the sole owner of your money and governments have no control over it.

Paypal has chargebacks in case of fraud that is the reason online stores have paypal and no other payment processors like paytoo, skrill.

What protection does bitcoin offer in case the seller is fraud (send defective products or does not ship the product & services)??

[kamoto]

I would really like these two things to make the world a little more fair. Bitcoin is a decentralized currency, so if people changed fiat to bitcoin or another decentralized currency, the financial system would become much more fair.
A blockchain opens up access to many things. For example, fair elections. Elections conducted on the basis of this technology will be 100 percent honest. And this is only a small part.

[Phil2018]

I feel this two thing can solve many issues especially the problem which are related with financial system like money transaction or paying bills ,It also opens a income source for the unemployed people , and blockchain is a database system which provides security to the activities which are done by users.

[dumiya]

Bitcoin and other blockchains are decentralized. This mean no one can interfere and control the price like central banks do.

You can do faster transactions (within minutes) through bitcoin when compared to traditional wire transfers which take days to complete the transaction.

When it comes to other blockchains such as Ethereum and NEO, these blockchains supports smart contracts and people can build decentralized applications as well as DAOs. Decentralization ensure the trustworthiness.

[Goodnuel]

Bitcoin as a currency solves a lot payment related issues, especially for international trades or small businesses with numerous exchanges charges.
Blockchain on it's own is a huge technology that solves plenty problems. It can be used for numerous daily purposes.

[DOGECOIN92]

Blockchain Technology potentials are enormous, it’s increasingly getting accepted and adopted in different sectors of life. As an article writer, I have come across a lot of problems that Blockchain Technology has been able to mitigate. The various sectors cut across financial Payments systems, health sector, e-commerce, sports and more recently Blockchain integrated emotional intelligence. I believe there is still a lot of problems bitcoin and the Blockchain would solve.

[hatshepsut93]

Bitcoin was created to solve the problem of trust in electronic payment systems where the party that maintains the ledger has absolute control over it and users are totally dependent on them. Banks and centralized payment systems can print money, freeze and seize accounts, rollback transactions, they know about every spending you've made. Bitcoin has successfully solved all these problems in its first day. This is a pretty remarkable achievement, so even if blockchain tech will fail to become widely adopted, and even if Bitcoin won't replace fiat or become massively adopted, millions of people around the world will still find it useful.

[staceyrita]

I think there are a multitude of use cases for bitcoin that are going to be very regionally specific. The beauty of this technology is that it's not a one-size-fits-all technology.


Though it is increasingly acknowledged by major business, investors and governments that bitcoin has the power to enable potentially world-changing financial innovations, fundamental issues are still holding back adoption.

[ResuLT]

A privacy problem. Some of the people using Bitcoin for its privacy so it can't be trackable for who are transact this amount of BTC and who is the sender or the receiver. DarkNet is the example.

[cryptohopes]

There is no limit to the scope where blockchain can be used. Blockchain is just a decentralized database. But this concept is so wonderful and worthy that it can used in many sectors and there is no boundary to it. Besides Bitcoin also can do a lot for saving the people from usual and old banking system. Bitcoin is working on that too. Hopefully it will succeed.

[Roche44]

BTC can solved a lot of problems but among them the main problem that is solved by BTC is unemployment. People nowadays investing in cryptocurrency and it is making the economically stable. It is a big help for the nation that the unemployment problem is solving day by day.

[rajapatr1]

If it gets implemented good, i think that the centralization will come to an end, and it will be fully decentralized, i really that idea but i think that it will take a long time until we can see it happening in a near future, it will be difficult after all

[OSEIBOATENG]

Blockchain is capable of solving so many problems. The most important one is the one related to security and blockchain has proven beyond all doubts. 

[Markettoken]

there are many problems that can be solved by bitcoin and blockchain one of which is to help reduce unemployment in every country, help meet the life needs of a bounty campaign and so on