Why blockchain still does not have a really outstanding application?

[phipham123]

Up to now, the reputation of blockchain has primarily appeared in currency speculation and sometimes even illegal transactions, there are no outstanding apps yet. The blockchain is not yet a real highlight for life.

Everybody talks about blockchain, the platform technology for cryptocurrency like Bitcoin will change everything. However, after years of tireless effort and billions of dollars of investment, nothing really stands out from the blockchain application — except for speculative currency and illegal transactions.

Blockchain! We are just starting

We have a big change in the perception of blockchain and cryptocurrency from people, governments around the world.

The predictions about the change that blockchain created with the 4.0 technology revolution

Throughout 2017, many tech giants have taken a proactive approach to approaching blockchain promising new technologies such as Microsoft, IBM, and Oracle. Even many government agencies see the potential benefits of blockchain.

And here’s what the blockchain technology promises to deliver in future

1. Asia and the Middle East and many other places will strongly promote blockchain technology

Major banks in Asia and the Middle East will carry out blockchain-related projects, especially in the payment sector, such as in Japan and South Korea, where transnational payments will take place in just one day. , reduce transaction costs by 30%!

The central bank will boldly experiment with blockchain technology to boost its economy and efficiency in the foreign exchange market and transfer money quickly.

In addition to banking, the insurance and financial sectors will not ignore the benefits of what blockchain brings.

2. Blockchain — the key to industrial revolution 4.0

It can be seen that blockchain fully meets the requirements of 4.0 (automation, intelligent communication) and has tremendous potential for the 4.0 revolution.

In particular, the bank is expected to be a pioneer in technology 4.0. The move from traditional banking to digital banking will help the bank catch up to the 4.0 revolution as it starts.

That is why we classify the blockchain revolutions in four levels, the first of which is Blockchain 1.0: Currency, the Bitcoin virtual currency is the most representative.

Let me know your opinion, when does blockchain really come into our daily lives?

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[Strufmbae]

Advantages and dis-advantages has always been an issue if it comes to adaptation,  first to third world country has always factors to adapt. So basically blockchain is still on deep not on the top.

[Jet Cash]

I didn't read all of your post, but I would point out that there is one outstanding application for what has come to be known as "blockchain technology", it is called Bitcoin.

[paxmao]

The outstanding application has been using Blockchain as way of financing projects, publicly, easily and transparently. That´s already there. I don´t know if you are aware, but before crypto there were only IPOs or Crowfunding. Both of these cost a ridiculous amount of time and money compared with an ITO.

Also, I personally can exchange currency with ultra-low commissions. As simple as USD-ETH    ETH-GBP and a tiny withdrawal fee. I can also send it to a bank account in most countries.

In general, many transactions have been facilitated and made much cheaper.

The next one is payments. At the moment, crypto transactions are carried out in a matter of minutes, if not in seconds in most chains. There have been a few attempts to implement gateways that retrofit the existing payment methods, and I think it won´t take more than a year until I can pay with crypto cards without much hassle.

[CryptopreneurBrainboss]

I didn't read all of your post, but I would point out that there is one outstanding application for what has come to be known as "blockchain technology", it is called Bitcoin.

Perfect answer, I was about answering in the same manner also including that popular shitcoin (what's the name again?) That so called "accredited project developers" that got their degree from twitter uses to spam the community with more shitcoins all in the name of tokenizing the world. The project itself is outstanding but inferior when compare to bitcoin and it's been used wrongly.