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Author Topic: Your Blockchain’s Blockchain: The True Meaning of Transparency in Crypto  (Read 79 times)
elementus
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July 06, 2018, 03:21:14 PM
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Blockchain technology has been heralded as the first truly transparent way to conduct transactions. But how transparent are blockchains when the data the ledger represents is hard to extract, let alone interpret or utilize? Despite the public availability of the transactions, without context the “data” never truly rises to the level of “information”.  While tools have been developed that allow to see the chain transactions, there has yet to be a solid solution that facilitates the extraction, analysis and interpretation of this data, with contextualization that allows for understanding. What are some use cases for a technology that addresses this issue?
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Outsider07
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July 07, 2018, 08:04:39 PM
 #2

That's a wonderful point, blockchain and cryptocurrency is the like a open book nothing is hide here the user can easily understand the risk and protocol of this market even they openly explain how they opareat their security system work.
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July 08, 2018, 06:10:43 AM
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The market of crypto currency is relatively new to other investment markets. On top of that, after a laborious hard work for years, this is the fruition of their hard work now. So we need to give some time to the market to be fully mature. This will take some time despite the hurdles.
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July 09, 2018, 06:06:38 AM
 #4

In this crypto market blockchain is a very essential element. Without blockchain no one can’t complete their transaction properly and if this blockchain become week then hacking possibility increase. So be careful when you trade.
sunlitit654
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July 09, 2018, 02:51:26 PM
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The blockchain technology is really a very transparent way for doing transactions.
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July 09, 2018, 03:07:10 PM
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Generally, crypto has exactly the right level of transparency to validate the transactions and ensure that you aren't being ripped off.  Beyond that, any personally identifying information should be strictly voluntary.

The problem is that "information" is sometimes valuable.  So the primary reason people would want to "analyse and interpret" the blockchain is because they're interested in profit.  Crypto is not meant to be some tool for "big data" companies to sell our information on the the highest bidder.  We have to put up with enough of that crap in fiat.  It's not a trait we're looking to emulate here.

While we're primarily disrupting the finance industry, if we can partially disrupt the analytics industry as well, that's just icing on the cake.  At the end of the day, they're all middlemen.  Leeches, effectively selling off things that other people are producing, passing it off as their own work.  That shouldn't even be considered a business model.  Crypto eliminates the middlemen.

AnthonyLa
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July 11, 2018, 08:01:25 AM
 #7

The market of crypto currency has not passed many years relative to other investment markets. Moreover after working hard for several years, this is earning reputation now. So we need to give some time to the market to be fully transparent. There are a few problems now but I hope that this will be solved as soon as possible.
developno1
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July 14, 2018, 02:19:23 AM
 #8

Any personally identifying information must be strictly voluntary. We have to endure that amount in fiat. At the end of the day, they are all middlemen. Crypto removes the intermediary.
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July 24, 2018, 12:14:56 AM
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Blochain technology is has transperency while doing transactions which is making it more secured than other technologies.      
Bervelukan
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July 24, 2018, 12:30:07 AM
 #10

it's true that blockchain technology is a transparent technology, and it can make all its usable usage instantly without any suspicion, and I hope most of the banks can use or use this blockchain technology.
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July 24, 2018, 03:26:51 AM
 #11

Crypto eliminates the middlemen.
Well, it should, but ellimination will surely takes time. Blockchain—despite of being almost nine years of existence—still on it's adolescence period, and the maturity period will be a long-time waiting. But soon, all kinds of industry will be disrupted—all aspects.

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IndigoRed
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July 24, 2018, 03:47:22 AM
 #12

As blockchains are shared and anyone and everyone can see what is on the blockchain, allows the system to achieve transparency and as a result, trust is established. The bitcoin blockchain therefore, forms a forever immutable record of the ownership of the bitcoins it tracks. This is why blockchain provides the best structure, framework and foundation for a virtual currency.

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July 26, 2018, 05:22:16 PM
 #13

Yes blockchain technology have good reputation because blockchain technology is providing transparency for its transactions because i am never see this kind of platform where peoples can find any info regarding their needs because its security system, protocols are more reliable and secure than other platforms.
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