Altcoins Talks - Cryptocurrency Forum
Further Discussions => Blockchain Technology => Topic started by: Domithra on March 25, 2018, 06:47:56 AM
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Aside recording transactions made on series of computers across the globe in order to ensure that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network, do you think the Blockchain technology is meant for other purposes?
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Blockchain is the future of the world wide web, check steemit a social media platform built on a Blockchain technology, another is bitshares a trading platform built on a Blockchain technology. Blockchain has many uses in the IT industry even some AI innovations are being developed on the Blockchain environment!
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To fix any information or property between the two parties.
Blockchain can capture not only the currency, but also transactions with securities or transactions for the acquisition of land.
The system can also store information about marriages, medical records, etc.
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All finance and nonfinancial industries can use and apply blockchain technology to record all of their corporate data into a secure system without the need for centralized servers.
Pandu Sastrowardoyo, CEO of Blockchain Zoo explains blockchain technology is the solution of the future because the technology can be used for various industries in various fields and very useful.
"Blockchain can be used for electronic medical records, it can even be used to trace our DNA forever that it is ours and not used for things we disagree, blockchain can do that," Pandu said in a conference blockchain at the Ritz Carlton Hotel, Jakarta, Friday (23/2/2018).
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Aside recording transactions made on series of computers across the globe in order to ensure that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network, do you think the Blockchain technology is meant for other purposes?
I think there could be lots of uses for Blockchain technology aside from currency, and main purpose of ether tokens is for businesses to perform difficult tracking, fake proof concert tickets, tracking vacation days, etc. The fact that you can't fake a token or currency means a lot.
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In my opinion, there is no other purpose than to record transactions on blockchain conceptually. I assume that after processing transaction data from the peer to peer networks, a new block will be formed which names itself as a new digital identity. The new block will be stored fully on the blockchain and cannot be changed again.
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I thing the most important thing about blockchain is security.
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I believe IoT is very special area for blockchain to be applied. Also AI based softwares or products can be extended and be more solid with blockchain I believe.