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Old 10-30-2019, 07:01 AM
rriley rriley is offline
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Default What's Blockchain Actually Good for, Anyway? For Now, Not Much



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Interesting article from Wired:

https://www.wired.com/story/whats-bl...-for-not-much/
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Old 10-30-2019, 07:56 AM
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Scaling while retaining decentralization and security is the major hurdle, and some of the brightest minds are making it happen. Give it time, the potential use cases are endless and many are extremely disruptive.

Blockchain will eventually touch every aspect of our lives and 99% won't even realize it.
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Old 10-30-2019, 08:33 AM
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Thanks, I have been negative on cryptocurrencies but until this read gave too much credit to blockchain.
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Old 10-30-2019, 12:45 PM
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Cryptocurrency is just one blockchain application. I believe the future of non-permissioned blockchains that depend on expensive validation processes is limited, but permissioned blockchains such as Hyperledger have a bright future.
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Old 10-30-2019, 01:44 PM
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Cryptocurrency is just one blockchain application. I believe the future of non-permissioned blockchains that depend on expensive validation processes is limited, but permissioned blockchains such as Hyperledger have a bright future.
I know this. Medical records were supposed to be paperless a long time ago but they keep shoving a form in my face to fill out.

I will be long dead by the time if blockchain ever become more than a pet rock.
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Old 10-31-2019, 02:18 PM
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I find it interesting that the discussion has a tendency to focus on the ability to verify that a transaction took place, as if the majority of transactions lead to a dispute.
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Old 10-31-2019, 04:22 PM
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What you don’t see under the covers in most transaction is all the middle men who do the work to confirm the two ends of the transactions are valid. By providing a secure transactional method the middle men and much complexity is removed. For example using Hyperledger Mearsk shipping has cut the amount of paperwork and middle men by more than 50 percent for trans country shipping reducing costs by millions of dollars. Walmart has used it to provide farm to fork tracking of consumables allowing issues to be tracked in minutes rather than days. There are dozens more examples and the list grows each day.
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Old 10-31-2019, 10:44 PM
txprep txprep is offline
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blockchain is only useful in cases where you dont trust a centralized entity. For example, lets say you dont trust facebook, or any social media company, to properly care for your data. They have a history of banning people they dont like and giving out private information to the highest bidder.

A Blockchain social media platform could allow you to store your encrypted information in one of many competing information stores, using the front end of your choice, under your complete control for who has access.

No central authority could ban you or peek into your data without your permission.

things like land contracts in theory could be executed faster, but the reality is we trust the govt agency to be the source of truth so there is no reason for a decentralized database.
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Old 11-02-2019, 01:31 PM
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Blockchain does nothing more than other technologies already do.

It is simply a complicated process that provides no benefit. A complication for the sake of complication. A solution looking for a problem to solve.
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Old 11-02-2019, 04:07 PM
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Blockchain does nothing more than other technologies already do.

It is simply a complicated process that provides no benefit. A complication for the sake of complication. A solution looking for a problem to solve.
You're thinking too small. It solves myriad problems. Is it complicated? Absolutely, but in time blockchain will see widespread usage globally and that's where most of the detractors are failing to comprehend it's genius. Head in the sand "USA-centric" thinkers have a hard time wrapping their minds around why there's not just a huge market for various blockchain applications, but a NEED.
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Old 11-02-2019, 05:23 PM
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Isaac Arthur is a futurist that I follow on youtube. He does a good episode explaining what blockchain is, how it works and its future applications.

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Old 11-02-2019, 10:23 PM
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I find it interesting that the discussion has a tendency to focus on the ability to verify that a transaction took place, as if the majority of transactions lead to a dispute.
it is when transactions are peer to peer vs mediated through a trusted third party.
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Old 11-03-2019, 09:47 PM
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it is when transactions are peer to peer vs mediated through a trusted third party.
"Trusted third party" AHAHAHAHAHAHAHAAHAHA.... data breaches after data breaches after data breaches. No such things as a trusted 3rd party these days.
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Old 11-04-2019, 09:37 AM
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Some examples: https://www.ibm.com/blockchain/solutions
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Old 11-04-2019, 03:24 PM
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If it requires electricity to use its not a great survival currency. Its ok if you like high risk speculative "investments".
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Old 11-04-2019, 10:47 PM
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If it requires electricity to use its not a great survival currency. Its ok if you like high risk speculative "investments".
That's cryptocurrency, we're talking about blockchain. There's overlap, but they are not one in the same.
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Old 11-14-2019, 04:56 PM
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Originally Posted by spameggsbaconandspam View Post
I find it interesting that the discussion has a tendency to focus on the ability to verify that a transaction took place, as if the majority of transactions lead to a dispute.
Yeah transaction disputes not that big of a deal in the US and European markets public or private, institutions appear to look at Blockchain as labor and time saving move. I am sure some poor souls in settlements working 2 hours past home time think itís a great idea.
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