Blockchain, much more than cryptocurrencies
While it is true that the use of blockchain today is much more related to cryptomonies than other things, the reality is that its use extends beyond what some might think. Yes, actually for crypt lovers this is not usually surprising news but for those less literate in this technology are surprised to know that the implementation of the blockchain for the benefit and improvement of many aspects of our lives is just beginning.
If you don't believe it, keep reading this publication and find out about some other uses that are currently being given to this technology that undoubtedly went to stay.
Actually there are many uses that are currently being given to blockchain technology, for this reason in this first part I will mention three uses, and I will continue expanding the list in the next post, so let's start:
Obviously, I must start by saying and emphasizing that you are reading this publication that is published in a blog that is based on a chain of blocks, which makes it indelible once it has been published, and which cannot be altered at any time. Although some people can edit the posts, of course, this is an option, but the reality is that those changes that are made are equally recorded, there is no way to completely delete the former.
So having a blog in a decentralized blockchain is possible thanks to this new technology, and being able to monetize your content through earnings in cryptomonies, without the need to "have advertising ", which was the usual thing, is the best.
Smart contracts:
We live in a globalized world, in which to close some contracts and businesses the best thing was to do it personally, reading the small letters, to avoid frauds, scams, among other events that imply 'loss of money'. With the advent of the internet it became more and more necessary to have tools that provide us with a certain level of security in transactions.
Recently it is more and more in use what are the intelligent contracts, this allows us to make predetermined contracts at programming level and with a high difficulty (almost impossible) that someone loses money by default, and since these are configured so that they can be executed only when the parties involved have fulfilled what they should.
And these contracts are supported by Blockchain, particularly the Ethereum's is working perfectly with these types of contracts.
International Transfers
Nowadays, using the traditional banking route to make fund transfers between banks in different countries is a process that usually takes days and even weeks if there are any inconveniences. Besides, taxes can be very high for these processes. However, the Blockchain allows us to make transfers between countries in a matter of even seconds, with a high security rate. don't you think so?
In this same platform we can make balance transfers from an account of a user located in Asia and another located in America, or not?.
For now I consider this first part finished, and it's just the beginning, there are many more things that can be done based on this technology.
We'll read about it in the next post.
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Yea... Blockchain technology is a lot more advanced than people think and there are much more to Blockchain and its tecnhnology than cryptocurrency and what we all see in the surface.
That's right, I'm sure things will come up that we didn't even imagine.
That's right, I'm sure things
Will come up that we didn't
Even imagine.
- josevas217
I'm a bot. I detect haiku.
one of the things i think etherium is better and newer than btc is because of their smart contracts, they just make life easier because of their org power
Surely it will come a lot with those contracts, we can only hope that more will come to the developers of that technology.
This is just beginning and you can now easily access international transfers and the many possibilities of smart contracts, so the future of the blockchain is quite hopeful
And it's good to be around, because it makes us know more than what's here, it makes it easier for us to be in contact with other technologies. It's a good thing. Thank you for commenting.
Hello @josevas217
This new world of the blockchain is a success, particularly the fact that you can make transfers from one country to another without having to pay anything extra and in a matter of minutes. It is an excellent tool. Obviously, as everything has its disadvantages, sometimes certain investments do not turn out as you expect, but equally I think there are more advantages than the negative things.
Speculation and lack of physical contact with others facilitates theft.
But with smart contracts this is solved. If one of the parties does not comply, it is simply not executed, which is one way to avoid these problems.
@josevas217 blockchain is the future technology , we will see in future all the big sectors will be working on blockchain only and most of them are started working also to create this technique. We just need to wait for a small time.
If you think we're on the right track by being here, you'll always learn. We'll wait then. Thank you
Good topic choice. Like your presentation.
I frequentlywrite about this. Well, whenever a client needs an explanation about the differences between the two. Both IBM and Amazon are examples I use. Essentially I say that cryptocurrencies must be decentralized to even be talked about. And then I go into limited decentralised blockchains because this is how enterprises like IBM promote things like blockchain as a service.
It's a good comparison, I think that to explain both concepts it's best to use what people already know, it's much better. It makes the process easier for them, because all this blockchain and cryptocurrency can be something abstract for many. Thank you for o
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the posibilities they are huge,and i think barely we are discovering its potential.The future looks very promising, with virtual reality apps and More tech stuff.
Virtual reality and Blockchain, that I haven't seen, but I have no doubt that there must be a lot of that on the way.
Undoubtedly the number of applications that the different blockchains have are many, for now the biggest problem of all is scalability, as more people can access their benefits there will also be more people interested in controlling them, I think it is the second strong problem facing blockchains and it is the myth that they are decentralized, there is a long way to go for this to be true,
Regards
Hello @herdersonp
Yes, you mention two very important things, scalability is certainly a stumbling block, he has tried to make two-layer technology to facilitate that process, and look for ways to make more and more transactions per second. I think they will succeed, they have improved a lot in that respect.
And decentralization, well, it depends on whether POS or POW, regardless of the form, there will always be those who have more in order to acquire more, so we could call that a kind of centralization. Certainly... these are details.
Thank you for commenting. Good to see you around.
I know that
There are more things to blockchain (distributed ledger technology) than just cryptocurrency. I once read an article of how blockchain has been incorporated into election. The possibilities are just limitless.
Nice piece buddy
University degree records. Handling government finances, so everything is exposed and they couldn't do corruption, or it would make it more difficult... many things, you are right @samminator