Is blockchain the adequate technology to reshape the economy?
- Thread starter PhaseMizuna
- Start date
Rather than reshaping, I think it's more appropriate to use the word 'improvement'. Since this technology is just one of the things that can help the economy but I don't think it can reshape it. Blockchain technology is just a factor and a great innovation that will help us and an economy to even grow and improve more.
Haunebu
Affiliate Member
The current economy is centralized to a large degree. Blockchain tech will help create a decentralized economy in an age where privacy is very important which is why it is the right tech to help reshape the economy.
Blockchain Technology mainly created for the decentralized system for economy where privacy is more important to store data or funds. New blockchain technologies are re shaping to the latest from current centralized economy to decentralized economy.
Ailmand321
Affiliate Member
Blockchain technology is like a new turn over or an innovation that will change everything how people keep track and keep records on everything. It will not just reshape or improve, it will change how people do everything in terms of record-keeping, security and dealing with the transaction. With decentralization people will have the power of their personal data, enabling them to secure their own data or saving time doing transactions without any third-party or middlemen involved.
Economy comprises not just by the currency, which turns out to be like if blockchain would be applied to economy, cryptocurrency will be more evident. But no, when we say blockchain reshaping the economy, it means that we are applying blockchain to different aspects of economy such as developing a blockchain based system for logistics, inventory, currency, identity systems, and much more that could possibly enable services to be more efficient and effective that will lead to reshaping economy into development.
Simeon4real
Affiliate Member
It's still to early to make conclusions if Blockchain has what it takes to keep an economy up and running. However, Blockchain is still in its infant stages and it has come this fact. Just a little over a decade. But so far so good, It's been very promising. Let's see what the future holds.
Baby Lion
Affiliate Member
Blockchain technology is the new version of old transaction systems that make a huge improvements on the security, transparency and decentralized. But it's hard to predict so far what will be the impact of blockchain technology that might use on legal or illegal ways.