The Future of Bitcoin Technology.

[finaleshot2016]

I have created a topic regarding about the development of society through the adaption of blockchain in my local.

"Development" and "Improvement" of the Society: Discussion about Blockchain.

We already conducted research about the uses of blockchain and it has a lot of advantages when we adopted the use of it. The government will remain to disagree on the uses of blockchain since they didn't implement any complete study about this and probably the politicians will just ignore it. But we, as innovative people, we should make use of the blockchain in any kind of things since it's very powerful and has features that other technologies don't have.

[erikoy]

Truly, it has been said that we should create the future we want to see. In order words, if you want tomorrow to be great, then start working on it today.

Well future had evolve so fast because of the new technology that is greatly help of the development. Innovativeness is one key tool to a better and greater future.

2.The future of platforms, systems and institutions is decentralization and not centralization.

I think there is no.absolute decentralization. Actually government are centralized yes but not all system in it. Decentralization is still part of it like decision making. The barangay level can assess and decide on its own if it is under the jurisdiction and controllable situation.  Only when they call or ask for help if duties and responsibilities are bound to their capacities.

3.The future of contract is smart contract and not trust contract.

Yes, this could be greater so that every transaction and budgeting will be transparent through blockchain but pretty sure government will not allow this because they can't earn from corrupt practices.

4.The future of money is crypto and not fiat.

No I think this is wrong. Fiat is still there as a back up fora digital or cashless society to which it is now happening. But still fiat serve a good use nowadays and even the last many years ago up until now.

In your own opinion, what will be the impact of this revolution to ;
1.The governments.
2.To business.
3.To Individuals.
4.To World bodies such as IMF, UN, WTO etc

There great changes that could be done in the lists of instution but sad to say that it could not be integrated for now. It is a big problem also that the more technology we use the harder the scammers will get caught as they rely on technology too to which tracing woulf be more difficult than the physical tracing.

[adzino]

True bitcoin certainly is the future. I also to some extent agree that crypto currencies are the future, not fiat money (though replacing will only happen after decades and once everyone accepts it and a suitable currency is found. Will it be a decentralized currency? I don't think so)
I highly doubt everything like platforms and institution will become decentralized. Becoming decentralized means trusting them blindly. Again, not going to lie, scammers will take this opportunity to scam the naive people.

[Swordsoffreedom]

Bitcoin scams have grown a lot more. Many scammers are constantly surfing online. There are some other technologies that you have mentioned that need to be added in the future. There will come a time when the world will run on cryptocurrency.

scams are increasing day by day. at the same time, we have to upgrade ourselves and of course we need to be aware more. because it is not possible to avoid scammers without awareness. Everyday scammers are inventing new ways to embezzle out BTC. We need to have adequate ideas about scamming, and risky place or sites should be avoided.

[conhela]

In your own opinion, what will be the impact of this revolution to ;
1.The governments.
2.To business.
3.To Individuals.
4.To World bodies such as IMF, UN, WTO etc

1) Decentralization is always a good thing, I think that if a government embraces bitcoin or decentralized technologies (say, for example, for paying utility bills and the like), then it'll make it harder for themselves to steal from their constituents, so it's going to be a bit of a hard sell at first.
2) Businesses don't need to decentralize themselves, but can make use of decentralized infrastructures, say DeFi solutions for payment processing and stuff like that, it's definitely a net positive as a business owner.
3) this is heavily discussed in this platform, currently there are too many benefits to individuals, I can't even begin to fathom what the future holds for us.
4) It'll bring accountability forward, making their books transparent will increase the trust of the people on them and their accountability to the people will be easier to check. No random lobbying that can't be traced.

[Lorence.xD]

In your own opinion, what will be the impact of this revolution to ;
1.The governments.
2.To business.
3.To Individuals.
4.To World bodies such as IMF, UN, WTO etc

~

1. This is a great oppurtunity for the government to perform their best because the bitcoin is so powerful that it gives the masses the power which the government does not control, on the flip side, if the government plans something nefarious then they can use bitcoin for corrupt and shady deals that compromises their people which is scary.
2. Businesses will be forced to innovate their business model by integrating cryptocurrency transaction and they are in my opinion the least that will benefit from this because they will see bitcoin as a way of maximizing their profit.
3. Financial independence will be achieved because there are no taxes to pay, the people can choose to be payed through bitcoin and not worry about government cuts, what I worry is that the ability to apply for insurance is very tiresome.
4. This digital currency revolution will not affect them, they can adapt to the changes and they can also be supplemental to global adoption of bitcoin by backing the cryptocurrency with something that has worth like gold (Gold Standard) or USD (Bretton-Woods)

[Wenbing]

I have created a topic regarding about the development of society through the adaption of blockchain in my local.

"Development" and "Improvement" of the Society: Discussion about Blockchain.

We already conducted research about the uses of blockchain and it has a lot of advantages when we adopted the use of it. The government will remain to disagree on the uses of blockchain since they didn't implement any complete study about this and probably the politicians will just ignore it. But we, as innovative people, we should make use of the blockchain in any kind of things since it's very powerful and has features that other technologies don't have.

I want to commend you for taking your time to post that real time seminar experience you had with CEO AND COO of evolving tech companies. one of the most important features of blockchain i like so much is the transparency which is made possible by its distributed ledger. That is with this technology, we shall come to know the real meaning of the term transperency as nothing can be hidden on blockchian.

True bitcoin certainly is the future. I also to some extent agree that crypto currencies are the future, not fiat money (though replacing will only happen after decades and once everyone accepts it and a suitable currency is found. Will it be a decentralized currency? I don't think so)
I highly doubt everything like platforms and institution will become decentralized. Becoming decentralized means trusting them blindly. Again, not going to lie, scammers will take this opportunity to scam the naive people.

The real world truth is that there is no perfect centralization and no perfect decentralization. There must always be a centralization in decentralization and a decentralization in centralization.

for example, smart contract promise to eliminate lawyers from contract but the technology will serve as the lawyers. For cryptocurrency, i believe the government will regulate it to its favor.

In your own opinion, what will be the impact of this revolution to ;
1.The governments.
2.To business.
3.To Individuals.
4.To World bodies such as IMF, UN, WTO etc

~

2. Businesses will be forced to innovate their business model by integrating cryptocurrency transaction and they are in my opinion the least that will benefit from this because they will see bitcoin as a way of maximizing their profit.

I think you need to clarify what you mean here. Do you mean that businesses will stand the chance of benefiting most by maximzing profit or they will benefit less by maxamizing cost?

But from the discussion above, cryptocurrencies will help businesses to cut down transaction costs, as there wont be need for intermediaries in transactions, it is peer to peer.

[moderator's note: consecutive posts merged]

[yohananaomi]

All of them ; governments , businesses , individuals... It has banks worried, because cryptocurrency eliminates the need for their services. Since they don't have to pass through multiple hands, transactions take place much more quickly. It also has caused concern because it's become harder to regulate financial activity, which has especially interesting implications on the international level.

there is clearly a difference in the way the facility is managed between crypto and banks, obviously it cannot be compared because there is a separate market share.
crypto can run without the needs of the bank is clear, but banks can also run by themselves because of the needs of people for transactions that have been developed.

in some countries crypto is still not recognized as a legitimate transaction and can be guaranteed by the state, of course this is still a difficulty for the development of crypto.
Even though the state can actually take tax from every transaction on crypto. it is also difficult for the state to control the transaction if there is money laundering using the crypto facility.
because the state must be the last bastion to be able to control, but crypto is very difficult to control.

[crustycrab666]

in some countries crypto is still not recognized as a legitimate transaction and can be guaranteed by the state, of course this is still a difficulty for the development of crypto.
Even though the state can actually take tax from every transaction on crypto. it is also difficult for the state to control the transaction if there is money laundering using the crypto facility.
because the state must be the last bastion to be able to control, but crypto is very difficult to control.

That is why some countries cannot completely prohibit the use of bitcoin, because even though there are things that are difficult to control, bitcoin has many good offers that can provide benefits, even with considerable risk. This is an extraordinary innovation, which can overcome various obstacles that cannot be solved with traditional currencies.
No problem the government does not legalize it as a means of payment, because the government has the right to maintain its sovereignty in managing the country's economy, through official currencies. Bitcoin can still be used as a commodity of trade and investment.

[Sadlife]

It would result in the banking institutions not being able to exploit the poor to make the rich, richer through endless quantitative easing that only benefits those people who have millions of money invested in government owned stocks. And things like fractional reserve banking wouldn't be use as people could easily borrow money through smart contracts or put money they themselves control through their own crypto wallet.

[Eugenar]

The impact of bitcoin on the people is that it can be their source of income, but it cannot be a stable source of income because if you are only ways of earning in bitcoin is trading and investing then you should know that gaining money is risky on that part. Bitcoin also good for them because they can use it for some online transactions.
It is also good for some businesses if they allow the bitcoin to use for payment systems.

[shoreno]

 it is . people are start working now towards thier dream  . it could be in the form of working to earn and to buy a bitcoin or to work and earn bitcoin directly  .  there are contributors here but we need employee's too because a business wont be possible or a plan wont be possible without them  . there are two phases on here one is centralized and the other one is decentralized  , we need both  though i know that decentralized is what represents bitcoin .  the smart contracts are i think only for eth and altcoins but we are talking about bitcoin here

[maximumcoin]

Truly, it has been said that we should create the future we want to see. In order words, if you want tomorrow to be great, then start working on it today.

That is how the software industry has developed and transformed from one forms to another until we now have the powerful software that support bitcoin, which are; Blockchain, Cryptography and Internet.

Here are what I’m thinking. The future is not far from us in software technological breakthrough.

1.The future of work is Contributor and not employee.
2.The future of platforms, systems and institutions is decentralization and not centralization.
3.The future of contract is smart contract and not trust contract.
4.The future of money is crypto and not fiat.


In your own opinion, what will be the impact of this revolution to ;
1.The governments.
2.To business.
3.To Individuals.
4.To World bodies such as IMF, UN, WTO etc

I think this world and all revolution in the future are being controlled by superpower financial corporations such as Rothschild family. If you had ever read the book "Currency War" , you will understand how the way they control this world including all over sides such as economy, politic, decisions of goverment of each countries v.v

[jademaxsuy]

I think this world and all revolution in the future are being controlled by superpower financial corporations such as Rothschild family. If you had ever read the book "Currency War" , you will understand how the way they control this world including all over sides such as economy, politic, decisions of goverment of each countries v.v

It is not true in regarfs to Rothschild family. If they does really in control then we can probably idea on which of their favorite country to get a good economy with lesser problems and away from any form of discomfort. I do believe that all country now were suffering from the pandemic no rich and poor country were being exempted in the infection of the disease. In fact US, were the most numbers of infected from this virus.

The rothschild family is just a myth to let everyone believe that we are in control and we do not have the right or power over it. We all I can say is that we are Rothschild's family. LOL

[taufik123]

The impact of bitcoin on the people is that it can be their source of income, but it cannot be a stable source of income because if you are only ways of earning in bitcoin is trading and investing then you should know that gaining money is risky on that part. Bitcoin also good for them because they can use it for some online transactions.
It is also good for some businesses if they allow the bitcoin to use for payment systems.

Bitcoin is a source of income that will be very risky because of its high votality. This can not be a major source of income, Bitcoin is just another option to get money by investing in buying some bitcoin or it can also trade and benefit from the price difference that happens every time.

The future of bitcoin technology will be increasingly supported by the rapid development of digital technology. Some adoption of bitcoin has begun. Integrated with several online payments and easily make online transactions using bitcoin.

But for some countries it is still limited and the regulations applied by each country are also different.

[Mor254]

Opinions vary about digital currencies, but certainly in the future, digital currencies will become in everyone s hands, and governments will seek to regulate this technology in a certain way in proportion to their local currencies, and dealing in local currencies may be abolished. As for individuals, they will be able to find more job opportunities and it will be easy to obtain these currencies at  everybody.

[Kelvinid]

I would be very happy if bitcoin technology would be applied in various countries, yes even though until now it is still a long polemic about the legal certainty that applies in every country, but I still believe bitcoin will be a bridge of advanced economies for countries around the world.

I think we are in that way, sooner we're getting close to that adoption, and might the majority will use Bitcoin for any payment transactions.
The continuous market development will get notified by the people especially during the pandemic crisis and that is how it takes advantage of this technology will rise from being just ignored by most before.

We will likely to so a better output of this technology and we are not in regrets knowing it despite those bad news, fake news, anything that affects the mindset of the people. We are into that change, from FIAT to digital transformation.

[AniviaBtc]

I would be very happy if bitcoin technology would be applied in various countries, yes even though until now it is still a long polemic about the legal certainty that applies in every country, but I still believe bitcoin will be a bridge of advanced economies for countries around the world.

To be frank with you, sadly, bitcoin is not yet treated as a good currency in some countries due to its volatility and increasing reported of scams that is happening around the world. Due to those scammers, bitcoin's reputation is continuously decreasing and people are becoming more ignorant towards its benefits. I will say that, bitcoin's future is not that secured due to those fraud users that destroys bitcoin reputation in some countries,  like Nepal, Bangladesh and etc.

If you want to support bitcoin and help its adoption to become greater, just continue promoting it and use it properly so that its importance will be showed up to the community.

[taufik123]

I would be very happy if bitcoin technology would be applied in various countries, yes even though until now it is still a long polemic about the legal certainty that applies in every country, but I still believe bitcoin will be a bridge of advanced economies for countries around the world.

Bitcoin or Blockchain technology is currently being implemented by several developed countries such as China that embrace Blockchain and want to develop it. legal certainty and various polemics may vary from country to country. There are those who are happy and open to accept Bitcoin and its technology, there are also those who apply strict regulations on the use of bitcoin and cryptocurrency and some even openly prohibit the use of bitcoin. Bitcoin and blockchain technology are future technologies that need to be developed again, this will be both beneficial for various sectors.

[carlisle1]

Bitcoin or Blockchain technology is currently being implemented by several developed countries such as China that embrace Blockchain and want to develop it. legal certainty and various polemics may vary from country to country.

With how China treating now this system, the chance that it will be embrace by more countries around is very possible, knowing that it will help the process fasten the transactions between borders.

There are those who are happy and open to accept Bitcoin and its technology, there are also those who apply strict regulations on the use of bitcoin and cryptocurrency and some even openly prohibit the use of bitcoin.

Different opinions and rules implementations are based from how deep the understanding of certain leaders. Once they fully learned everything, it will be much easier for them to be convinced.

Bitcoin and blockchain technology are future technologies that need to be developed again, this will be both beneficial for various sectors.

It is. A good research will enhance the knowledge of those who still opposing the existence of this system, allowing them to learn is the best way to convince them embracing this new innovative technology.