Blockchain?

Discussion in 'Science and Technology' started by anotherlife, Oct 6, 2016.

  1. anotherlife
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    anotherlife Gold Member

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    Check this out.

    Blockchain: Beyond bitcoin

    The blockchain is a distributed database, that exists in fragments over the Internet, and the fragments keep updating and syncing with each other.

    It provides a secure yet public information of all chains of all transactions it ever recorded. I was written this way too. Do you think blockchain will have the ability to obsolete the security deficient credit filing system of the US government's three credit bureaus?

    For example, once your social security number, name and address are stolen, such as from a tax preparation service, how do you control your transactions? I think blockchain comes in pretty handy there for the future.

    Your take?
     
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  2. Martin.S
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    Martin.S Rookie

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    However, Blockchain technologies are still new in the scheme of things, and the community is still discovering their risks, limitations and potential economic and social impact.

    Blockchain is useful for a lot more than just Bitcoin

    I would like to see how it goes in the next 3-4 years from now.
     
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  3. anotherlife
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    anotherlife Gold Member

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    I like blockchain a lot. I think this technology can evolve to provide an array of independent new currencies, and free people from state authorities and tax / debt burdens.
     
  4. SixFoot
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    SixFoot Get off my lawn! Gold Supporting Member Supporting Member

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    "What makes a blockchain system special is that it doesn’t run on just one computer like a regular database. Rather, many distributed processing nodes collaborate to run it."

    TOR (The Onion Router)
    Tribler
    RetroShare

    Hip new terms may vary.
     
  5. Fueri
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    Fueri Gold Member

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    There are many, many uses for this type of technology.

    It's main issue, imo, is that it is such a sea change from the way things are done now that it is difficult for people to fully understand and use. Another front end interface to make it more seamless for people needs to happen, in much the same way that computers were around for years before windows opened them up to common use, and I think we'll see some of that.

    The other major issue, of course, is that the existing system of banks and states do not want a change to that status quo, so it faces pretty stiff headwinds.
     
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  6. anotherlife
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    anotherlife Gold Member

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    Indeed, states and central banks are apprehensive, because this reintroduces individual freedom, that they have been working for 100 years now to destroy.
     
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  7. Fueri
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    Fueri Gold Member

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    yep, they are not going to relinquish control of money in either case.

    however, the other elements- such as smart contracts, trading contracts via the blockchain instead of a conventional exchange, micro loans, crowd funded loans etc., have the potential to completely revolutionize many things.

    In terms of further uses of the blockchain or something similar I have little doubt we'll be seeing it, or using it and just not realizing it, increasingly over the next 50 or so years as it has solved a major problem and the uses are pretty much limitless.
     

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