Are Blockchain Projects in Northeast Asia can change the economy?

[pana72]

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

[hugeblack]

There are a lot of discussions, meetings, and events^[1] taking place in South Korea or Japan, so blockchain's long-term influence will be positive for those countries.
I am not talking about the economic aspects, but creating more jobs, leading projects, hosting more projects and capital flows, which may be reflected positively on the local market.

Not to mention that all this will stimulate the local sector to flourish because of more knowledge about these countries.
[1] http://koreablockchainexpo.com/

[avikz]

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

If transparency can change the mood of an economy towards positive direction, then yes, blockchain can change the economy for better! However, it's too early to say anything at this moment! Blockchain needs more time to make a solid impact which can be used an an example! Till date, we have none which had made a mass impact! It's still at the launchpad getting ready to unleash a massive change!

[TeQuiero]

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

Technically, those projects can contribute to their local economies but not really in the way they're suppose to be. For example, big MNCs such as Samsung or Sony can use Icon's blockchain to store data to track their products' authentication or control the logistics procedures... It's not the kind of current contribution (job creation) that they're doing. If blockchains is just fundraising then buying/selling tokens then it doesn't add up any value to the society.

[dothebeats]

The South Korean and Japanese scenes for cryptocurrencies and crypto startups have been increasing at a rapid pace, most especially Japan which has its guidelines honed over time and may have made a positive impact on new projects and launches in the said region. In SoKor, on the other hand, there had been a lot of talks from different sectors, mainly focusing on IEOs/ICOs and the application of blockchain tech on some aspects of the industry. Economically speaking, this creates more investors, jobs and an overall positive impact on the said country's domestic economy. This is what happens when the government is supportive of new changes but still maintaining the regularity of the said space.

[shield132]

Can't say that blockchain technologies can change the economy, there is no doubt it can't be bad but also can't see any significant influence on it. Btw blockchain technologies are great opportunity to create more jobs in countries, as I see everyday demand on blockchain developers increase while it's sad but there aren't enough candidates to fill that jobs. However it's adoption is very beneficial, maybe massive adoption in services where blockchain technologies can really have huge influence on whole process, can really affect economy significantly.

[mu_enrico]

Well, it depends whether these projects can increase productivity (i.e., the ability to produce goods and services) or not. With this in mind, I'm pessimistic about these projects actually because I don't see it can affect productivity that much.

Do you know what can change the economy? A new coffee variety, which can boost your mood and energy for at least 8 hours.

[bitgolden]

Well, it depends whether these projects can increase productivity (i.e., the ability to produce goods and services) or not. With this in mind, I'm pessimistic about these projects actually because I don't see it can affect productivity that much.

Do you know what can change the economy? A new coffee variety, which can boost your mood and energy for at least 8 hours.

Good economy gives birth to financial stability of the country, and blockchain has the ability to eliminate barriers that has made some factors that should affect economy daunted. First thing I know blockchain technology does is to cut cost, it is cheaper to run system using blockchain than the normal traditional method, also don’t forget that blockchain will surely create more job, and we have some countries that would specialize in this area for other countries to higher their citizen as expatriate, which means more money to that country’s economy.

Aside the employment it would create for country’s adopting blockchain technology, it will also help them have some transparency in their dealing with project consultants. Another thing blockchain means for countries that adopt it is more money for them when they trade with it.

[Mometaskers]

Still too far to see how this will affect the economy since it might differ from Bitcoin's blockchain but I don't see any negatives so far. Kakao is a very popular brand so I think Koreans might warm up to it faster.

It's interesting how varied the projects in Klaytn would be. Read there's a food marketplace and video snippet service (hopefully the beginnings of new competitors for Youtube).

[mu_enrico]

blockchain has the ability to eliminate barriers that has made some factors that should affect economy daunted. First thing I know blockchain technology does is to cut cost, it is cheaper to run system using blockchain than the normal traditional method

I don't buy it mate, give me an example of how blockchain technology enables businesses to cut costs? A simple SQL database would cost a lot cheaper than blockchain.

don’t forget that blockchain will surely create more job, and we have some countries that would specialize in this area for other countries to higher their citizen as expatriate, which means more money to that country’s economy.

That's correct if the jobs created aren't directly related to the blockchain itself, but because of the increased productivity. For instance, the demand for blockchain programmer may increases while, at the same time, the demand for relational database programmer decreases.

In short, I'm more skeptical about this so-called "blockchain technology" than about Bitcoin and need more proof/use case since we are just at the beginning of this new technology.

[Naida_BR]

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

Asia has a lot of countries that have strong manufacturing industry and many companies are active there.
They need new technologies that improve their automated operations, thus blockchain technology can change their economy completely. This is the reason why they spend so many resources in blockchain research.

[TheCoinGrabber]

I think these blockchain projects in East Asia would be more about services. What I find interesting is they might make social media and sharing apps for these blockchain. Any of these could spawn the first blockchain version of Instagram, Facebook or Youtube that might actually gain widespread acceptance.

Especially Klaytn. Kakao already have a large userbase in Korea so whatever decentralized social media that might come out of Klaytn could also have a large potential number of users, which might help it being used elsewhere (no one would want to join an sm that don't have enough users).

[davis196]

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

No,these projects can't change the economy now,because the crypto space is still too small and we are at the very beginning of the crypto revolution.Maybe after several years,if those projects survive and prove that their sustainability,they will gain enough customers in order to change the Asian economy.

[Baofeng]

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

Of course if those countries will take advantage of those projects then definitely it can affect their local economy. However, Japan and South Korea are already progressive countries so I don't know if it can put a dent of their economy. We would like to see those kind of projects in Asia wherein the country is on the development phase so that we can really gauge if it can really drastically affect their economic standing.

[CryptoBry]

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

The global economy is now transitioning into the world of digital and these projects you are mentioning here are pioneering on this aspect. The impact of these projects for the economy of the countries where they are based can be felt in years to come and with this trend going stronger we should be expecting more and more players in this field. Just in the Industrial Revolution, we are now in the true Digital Revolution with the blockchain technology and cryptocurrency changing the face of many industries. The influence of new technologies and protocols will be changing the very fabric of the economy and even the society in general.

[slaman29]

Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.

The global economy is now transitioning into the world of digital and these projects you are mentioning here are pioneering on this aspect. The impact of these projects for the economy of the countries where they are based can be felt in years to come and with this trend going stronger we should be expecting more and more players in this field. Just in the Industrial Revolution, we are now in the true Digital Revolution with the blockchain technology and cryptocurrency changing the face of many industries. The influence of new technologies and protocols will be changing the very fabric of the economy and even the society in general.

I wouldn't say we're in the true digital revolution until the whole world is able to benefit from this digital access. True, now mobile phone technology is almost in reach for everyone, but the poorest people still do not have education. what's the use of access to internet for example if you can't even read?

This is the step everyone has forgotten about, to make things equal first.

[FanEagle]

Can it change the economy in a macro sense? I doubt so but it could totally change a few peoples lives that is for sure. If you are interested in these projects and find kindred spirits that are also interested than you can create your own sort of barter system whereas many people will still not use it.


However, that doesn't mean its limited, the number of users could grow constantly as long as the project managers and owners keep working on it. That is literally why bitcoin is so loved and number one at all times, even though there are ups and downs in user numbers the general audience of bitcoin always grows, more and more people know about bitcoin and more people start to use it as well. Hence if those things keep growing it can have affect on many people.

[tansaneehongkao]

Its depend on the country, if blockchain technology will be adopted here in Thailand, i doubt if it will grow our economy since the corruption in this country is endemic

[microsurfer]

i dont think that any new blockchain proejct can really change economyo f the country

[cosmofly]

Yes, Asians are really having really great projects and they are working together to create a big push and will start developing and expanding the blockchain service to the world.
Content Protocol takes time to develop, Koreans will soon make it a big business.
I really like blockchain projects in Asia, they really do very well and keep their promises.