Blockchain

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  • I found my link for the forum last night. As I have no big views on politics I thought I'd bring up something in the tech sphere:

    Blockchain.

    What is it? Does it matter? Will it eventually make a difference?

  • @RoyalGelatin

    Thanks for the thread:). It does indeed make a change from politics, I'm just going to move the thread it to our tech/science forum.

    I was quite up on blockchain a few years ago, but my knowledge on the subject has somewhat lapsed, but I think in a nutshell it's a way for making and tracking money which could ultimately lead to a whole swathe of middlemen like accountants and bankers to be cut out. I'll need to read up on it again, but yes its expected to make a huge difference.

    Of course, there is another very high profile element of blockchain and that is the cryptocurrencies and anyone who has followed the ups and now downs of Bitcoin, knows what an absolute roller-coaster that has been.

  • A lot of corporations and banks are trying to get a corner of their own for blockchain - assumedly proprietary (because there are a few private networks). So I just wonder... What's the point in it?
    It'll probably become relevant more in several years, but for now it's a big sector for UK jobs at the moment that seems to be about making small versions of existing tech.

  • One thing I recall about how the blockchain could revolutionise things is with the house buying/selling.

    Currently you have estate agents and solicitors and conveyances etc. They would all be eliminated as all the legal documents for a transfer of a property and the exchange of money itself would all be on the same document - the same blockchain. Instantly transferable and available.

  • There's definitely potential for money in real estate for Blockchain.

    There's something really threatening to human labour in it though. It seems like the potential for counters to gentrification are threatened there, but then I'm being skeptical :P

    It seems good - I'm actually waiting for IPFS to kick off

  • There's a good article on blockchain that is worth reading.

    It describes the advantages and disadvantages of this technology. I personally find it very interesting and wait for its implementation into our modern systems; though not everybody understands the principles of its work and it riddles them.

  • The blockchain is defined as “a system that’s secure without a higher authority, distributed across many strangers’ computers, yet tamper-proof, and promises a mechanism for trust mediated directly between individuals”. Essentially, by providing a distributed means to guarantee and verify transactions, the blockchain offers the ultimate opportunity to cut out the middleman. Anything that is exchanged can be tracked with a blockchain, not just money

    Marriage could be tracked with blockchains. So could food processing. Another use is automated security, using code embedded on the blockchain to trigger granting or denying access depending on the requester. It could be possible for an individual to prove their existence and identity through family relations cryptographically, recorded on the blockchain like a distributed public ledger. This acts as a sort of international notary public.

  • Where do you reckon the blockchain will impact most, olduknerd?

    I reckon it could be something like you've already mentioned which is food. From the moment the food is grown or bred, until it arrives on our plates, it will be tracked. Could have an enormous impact.

  • i dont know, thats a bit like aking what impact the internt will have back in 1985. We'll have to wait to see what ingenious uses people will come up with

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