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Author Topic: Are we moving towards Centralized Private Blockchains?  (Read 1302 times)
joshuarose
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August 26, 2018, 12:05:39 PM
 #41

I guess my point here is that, we will still have the same system. Same banks, governments but the backend if you will, will change. Instead of this slow system which banks use, it will be private centralized Blockchain. And we, the individuals will still live in the same corrupt, centralized, controlled system instead of a free society with as little corruption as possible.
this may be a difficult problem to solve, maybe you should hold meetings from all countries to improve this, because banks already exist in all countries, so it is difficult to control.
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There are several different types of Bitcoin clients. EWallets such as Coinbase are like banks -- a central organization has complete control over your money. You shouldn't put much money in EWallets.
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EddyGameta
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September 21, 2018, 04:00:45 PM
 #42


It will just be Database replaced with the word Blockchain, same principles. Non-censorship resistant and not open source.

Blockchain is a database but with different principles from conventional databases, blockchain, you should understand from that word. About privacy it’s depends on the developer, some offer anonymity and some don’t, depending on the usage.
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September 21, 2018, 04:26:40 PM
 #43

Yes we are moving towards centralised private blockchain as today means 21st September news come that USA most popular Bank PNC is about to adopt ripple technology in their system.
One thing regulation of cryptocurrency is second name of centralisation of blockchain.

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September 21, 2018, 06:03:58 PM
 #44

If we want to see the blockchain technology massively adopted, no choice to get centralized private blockchains in the future. The adoption will come from companies and so creating their own blockchains, of course, it will be centralized ones. I don't think there is any use to make it public and decentralized for them. Let' say you own an insurance company, why would you make a decentralized blockchain

timerland
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September 21, 2018, 11:57:02 PM
 #45

If we want to see the blockchain technology massively adopted, no choice to get centralized private blockchains in the future. The adoption will come from companies and so creating their own blockchains, of course, it will be centralized ones. I don't think there is any use to make it public and decentralized for them. Let' say you own an insurance company, why would you make a decentralized blockchain

Yeah. There would be absolutely no reason for these businesses to have a decentralized blockchain if their intentions are to use the blockchain as the private ledger for internal transactions or whatnot. It simply doesn't make any sense.

But we are seeing a trend where governments are issuing their own cryptocurrencies which are pretty much completely controlled by them, and thus, centralized. There are also centralized cryptocurrencies that are coming out and trying to raise funds through ICOs.

These are the centralized blockchains that I think OP is referring to, and they have been becoming a trend recently as I've mentioned as many countries have already started developing them. But I would never touch these, especially if they're being touted as an investment.

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September 22, 2018, 01:26:41 AM
 #46

Blockchain is good technology and can used in any purpose like hospital, election, or government service. Blockchain different with cryptocurrency and i think its fine if blockchain applied in many services because it will creating transparancy and more faster service

junglist.massive
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September 22, 2018, 10:06:37 PM
 #47

That’s not a problem, it's their right, Blockchain was created by Satoshi Nakamoto as an open source software for public use and development. Like the internet that you are using now, is it wrong if the internet is used as a private facility?

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