Do we need blockchain technology?

[roosbit]

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects  that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.

Honestly we should realize that the blockchain is a very powerful technology which is shaping the future of tomorrow, and this technology is bigger than ICOs or exchanges as you put as its been adopted in real life projects that is helping people in so many ways like in the health sector, banking, transport and many others.

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[UmerIdrees]

Do we need blockchain technology?

yes I need. we need peer to peer technology like blockchain especially cryptocurrency like bitcoin. as payment bitcoin have a cheap value when we transfer country by country. i did western union when i pay some product outside my country need high tax, about $70 tax when i pay $3500. when i use bitcoin, who where and every out side country, $3-$5 max for that.

We definitely need block chain technology not only for the currency but also for all other fields. Since data is stored in blocks and cannot be changed/ tampered with, if we use it in offices we can get a scam free environment where no one will be able to change the records illegally. Also since the data is stored decentralized in block chain technology, the chances of losing the data is almost zero.

[ololajulo]

Reading through the thread will tell the OP that cryptocurrency is just one of the use of blockchain not all. The use is diverse with newer discovery. We are just at the beginning of the technology and we expect to see more exploit in coming years.

[StarofBTC]

You’re making use of cryptocurrency now and I believe that you would like to make use of cryptocurrency in few more years to come. So, that’s the number one reason as to why you still need the Blockchain technology, because if there was no Blockchain technology, you wouldn’t be here today in this forum or even hear about Cryptocurrency.

Others do mention many things that can be done with blockchain, but I don’t believe none of them cause there is no proof as to whether they are true or not.

[Alpinat]

Blockchain is the most advanced and secure system on the internet for me so It is really needed. Bitcoin cannot run without it and you know that. This is the system that makes bitcoin perfect and without it for sure it will be disaster for bitcoin. Some people love blockchain and not bitcoin in terms of the idea of course.

[ApocalypseNow]

We do need it. I remember reading an article that the hype in blockchain undermines the tech because scammers or people who want to make easy profits use it as a bait to lure many investors easily. The use of blockchain has been discussed many times and it is really going to reshape on how we interact with each other especially in financial terms.

[onrise]

Do we need blockchain technology?

yes I need. we need peer to peer technology like blockchain especially cryptocurrency like bitcoin. as payment bitcoin have a cheap value when we transfer country by country. i did western union when i pay some product outside my country need high tax, about $70 tax when i pay $3500. when i use bitcoin, who where and every out side country, $3-$5 max for that.

We require this technology and infact it i s boon for many reasons like mentioned and this is changing the way things used to work before taking so long time and money for the remittance and it is now solving the problem in minutes and with hardly any fees.

[Michael_McGraw]

Blockchain technology offers us so many benefits: it enhances reach of a businesses, ensures swift transactions, restricts frauds, it's reliable, transparent and cost effective. So yes, we need blockchain technology.

[gabmen]

Do we need blockchain technology?

yes I need. we need peer to peer technology like blockchain especially cryptocurrency like bitcoin. as payment bitcoin have a cheap value when we transfer country by country. i did western union when i pay some product outside my country need high tax, about $70 tax when i pay $3500. when i use bitcoin, who where and every out side country, $3-$5 max for that.

We require this technology and infact it i s boon for many reasons like mentioned and this is changing the way things used to work before taking so long time and money for the remittance and it is now solving the problem in minutes and with hardly any fees.

Well we don't necessarily "need" It like we require blockchain to survive but it'll definitely be a big boost towards the future. Blockchain can be applied anywhere not just in making transactions. It's one of the innovations that'll likely play a part in our lives a couple of years from now.

[slocker]

Interesting that this is something that will definitely change economy. Blockchain is something that is god given to us to use all it value. From where to start then. How about some things that blockchain brings: greater transparency, enhanced security, increased efficiency and speed,reduced costs. And on this structural difference in comparing to database.

Greater transparency - Transaction histories are becoming more transparent through the use of blockchain. It is also available to all participants who have permissioned access.
Enhanced security - There are several ways blockchain is more secure than other record-keeping systems. Transactions must be agreed upon before they are recorded. After a transaction is approved, it is encrypted and linked to the previous transaction.
Increased efficiency and speed - When you use traditional, paper-heavy processes, trading anything is a time-consuming process that is prone to human error and often requires third-party mediation. By streamlining and automating these processes with blockchain, transactions can be completed faster and more efficiently.
Reduced costs - My favorite, reducing costs. No middle man no nothing just send and receive, you just have to trust the data on the blockchain.

On database issue this is also good. Blockchain itself is a database in the form of digital ledger. It combines the Internet and cryptography to cater information registration and distribution, thus, eliminating the need for a trusted party such as a bank in case of monetary transactions. Records are arranged in ‘blocks’ of data and each block is connected to the previous one by a hashing function. It forms a chain of blocks that cannot be changed. This means no administrator to be paid for this. Will it be used in business database integration, possibly. Example on this, if you want to do something within your network with your data and with computers that you control then databases are more suitable and off course opposite, if you need a setup where the data is highly available but you are not the only one paying for it, would not need to modify past data, need it to be immutable, and publicly accessible then blockchain is a better choice.

So what is better. Blockchain time is coming and it will be used all over the word it wont be just transaction it will be used as database storage also

[annango]

Do we need blockchain technology?

yes I need. we need peer to peer technology like blockchain especially cryptocurrency like bitcoin. as payment bitcoin have a cheap value when we transfer country by country. i did western union when i pay some product outside my country need high tax, about $70 tax when i pay $3500. when i use bitcoin, who where and every out side country, $3-$5 max for that.

We definitely need block chain technology not only for the currency but also for all other fields. Since data is stored in blocks and cannot be changed/ tampered with, if we use it in offices we can get a scam free environment where no one will be able to change the records illegally. Also since the data is stored decentralized in block chain technology, the chances of losing the data is almost zero.

Absolutely agree with you guy. We do need blockchain, it's such an advanced technology which is really helpful to the development of econmic field as well as other ones. Honestly blockchain makes a big contribution on the growth of all places in the world. The most important characteristic of bitcoin is "it brings trust to peer to peer networks". It goes without saying that cryptocurrency actually needs blockchain. Bitcoin almost can't exist without blockchain.

[logicgate]

Blockchain technology offers us so many benefits: it enhances reach of a businesses, ensures swift transactions, restricts frauds, it's reliable, transparent and cost effective. So yes, we need blockchain technology.

  Blockchain is really the best technology which is being use all over the world now, it is so easy to carry so many bitcoin in blockchain, we can use it any time  as shops and markets are accepting it, it gives us safe transaction from country to country, blockchain technology is spreading now all over the world to be best wallet.

[qmclak]

Yes I think so, for fastest transactions. Blockchain can solve a lot of problems that exists now. I think it can be use too on banking transactions in future. Blockchain is advanced Technology that has many features and benefits for everyone. At the same time can be used on various types of business espcially ecommerce business.

[rocku12345]

Yes I think so, for fastest transactions. Blockchain can solve a lot of problems that exists now. I think it can be use too on banking transactions in future. Blockchain is advanced Technology that has many features and benefits for everyone. At the same time can be used on various types of business espcially ecommerce business.

What business ? Digital signature and digital contracts were existing before blockchain technology. Today`s big corporations can deal with each other without blockchain and smart contracts. There are too much talkings about importance of blockchain technology, but world is not ready to adopt technology today.

[Mahanton]

Blockchain technology offers us so many benefits: it enhances reach of a businesses, ensures swift transactions, restricts frauds, it's reliable, transparent and cost effective. So yes, we need blockchain technology.

  Blockchain is really the best technology which is being use all over the world now, it is so easy to carry so many bitcoin in blockchain, we can use it any time  as shops and markets are accepting it, it gives us safe transaction from country to country, blockchain technology is spreading now all over the world to be best wallet.

Blockchain technology doesn't only implied nor focused with Bitcoin alone.If we do try to look at on how blockchain tech do give out benefits into many industries
then I can say it is really a beneficial one or simply a revolutionary thing that this era has to offer. It would ease out transactions with more faster and more
transparent.

[virasog]

Blockchain technology offers us so many benefits: it enhances reach of a businesses, ensures swift transactions, restricts frauds, it's reliable, transparent and cost effective. So yes, we need blockchain technology.

  Blockchain is really the best technology which is being use all over the world now, it is so easy to carry so many bitcoin in blockchain, we can use it any time  as shops and markets are accepting it, it gives us safe transaction from country to country, blockchain technology is spreading now all over the world to be best wallet.

Blockchain technology doesn't only implied nor focused with Bitcoin alone.If we do try to look at on how blockchain tech do give out benefits into many industries
then I can say it is really a beneficial one or simply a revolutionary thing that this era has to offer. It would ease out transactions with more faster and more
transparent.

Yes, Blockchain is a vast technology and it should be used everywhere. You can see the benefits of bitcoins over fiat currency. Similarly if we use block chain in other fields of life, it can really give some amazing results.

[Fabienne_ayy]

Hello everyone.

When I see there are too many ICO and shitcoins on novaexchange. I keep asking myself: do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

An ad management system on blockchain? - We already had Google Ads & Facebook Ads.
A social network on blockchain? (steem) - Do we? I don't see anything but a centralized forum hosted on a random hosting using its currency to pay for the writers.

There are too many projects  that we don't really need it on blockchain.

Sometimes, I think there is a black swan (Blockchain is useless in real life) lurking around.

Actually, I can't really imagine crypto without blockchain technology, and I suppose it's one the most innovative things crypto brought to this market, so, it's up to you to make any kind of conclusions

[nara1892]

of course we need a blockchain, even though many people abuse it
this is simple logic
knives are made for cooking, then there are few people using knives to kill
then don't we need a knife?

[nauane]

do we really need blockchain technology?

In case of Bitcoin. Of course, I agree.
What about ETH? I agree too.

But, have a look at the others on the market. I don't even know why should people use their service. There is no real use in real life.

If you don’t need Blockchain, then you as well does not need cryptocurrency. Cryptocurrency cannot work without the blockchain and same blockchain; I haven’t seen any other thing one can do with blockchain apart from cryptocurrency. I have seen people say a lot of things that can be done with blockchain including message encryption, but none of those has been done yet. But as for cryptocurrency? Yes you still need blockchain.

Banks are also now adopting blockchain and they admire the reliable way to save money with the help of blockchain as it’s well developed technology.

There are hundreds of industries start making use of blockchain technology but unfortunately OP is against it due to serious of bitter experiences with lots of scammy coins/projects. He must understand that due to few wrong examples, we cannot ignore a versatile new invention.

Exactly, without blockchain technology there would be no bitcoin. Bitcoin is developed on the block chain technology but not many people knew it.

In future, i think bitcoin technology will be developed further.

[OrangeSeller]

Actually, I can't really imagine crypto without blockchain technology, and I suppose it's one the most innovative things crypto brought to this market, so, it's up to you to make any kind of conclusions

Blockchain can also be helpful in your business just like some people do say, but it is not needed in every business. So you need to have some thoughts about it before you proceed with making use of the technology in your business. As for now the main advantage of blockchain technology is that it provides speed in transactions and you also don't need a middleman, you get to avoid a lot of charges and pay less for everything. So you have to check if this is safe and beneficial for your business before you go for it.