In the era of digitalization and information technologies, a lot of things becomes cybernetic and
we don’t need any more engagement of person to make an order of food delivery or call a taxi or
physically go to a bank to perform transaction or payment. Below video describes more of how our
lives could be digitalize with blockchain technology and how it can improve our lives..
we don’t need any more engagement of person to make an order of food delivery or call a taxi or
physically go to a bank to perform transaction or payment. Below video describes more of how our
lives could be digitalize with blockchain technology and how it can improve our lives..
Did you hear before about blockchain, not in context of cryptocurrencies?
Do you think that blockchain technology could replace such institutions as backs?
What do you think about the fact that your personal identity information will be stored in blockchain
and as result publicly available?
and as result publicly available?
Comments
Yes, i worked a lot with this technology. I tested not only a lot of cryptocurrencies but i tried to understand how it works in terms of back end. Without any hesitation i would say, that it is our future.
Do you think that blockchain technology could replace such institutions as backs?
Maybe, but i'm not sure. Again, it will need a huge amount of time and resources to test it properly and to implement it.
What do you think about the fact that your personal identity information will be stored in blockchain and as result publicly available?
I don't really think that it will be available for public. Nowadays, we struggle about how to protect our personal information and do not allow hackers to use it against us. After 10 years, i believe, that our personal information will be fully protected. I don't think it will be a big problem, right we have it now.
Blockchain networks are hardly editable, and the data stored in them is often impossible to update, delete, change or correct. Therefore, I still have a negative attitude to the storage of personal information in the blockchain, as mentioned above, in 10 years will solve this issue.
I think it is the technology of the future. A big plus is that blockchain is virtually impossible to decrypt. However, as generally known, someone will come up with a workaround.
Already at this point, our private data is vulnerable to hacker attacks and publicly available.
Question is do we really need this? I don't think that storing your personal identity in "public ledger" will make it more secure because every system has its exploits and it's only matter of time when somebody will figure out how to steal your ID from it.
Bitcoin transactions are stored as ‘blocks’. When a Bitcoin is created or changes hands, a new transaction record gets created comprising blocks of data about transaction request, authorization, execution, sender and receiver. All blocks are linked via an encrypted algorithm creating a chain and, hence, the name Blockchain.
We have seen a big shift in the banking industry in beginning of 2018. With the power of decentralization and blockchain technology, we have the opportunity to take banking to a whole new level.
Banks are getting worried because they can’t offer the transparency new technological banks can offer. Why? Because majority of the banks are controlled by centralized entities. Becoming more transparent is opening up a big risk for them.
I don’t think blockchain will replace real banks anytime soon for one very simple reason. Banks back their treasure with real estates, physical money, valuables and other investments. Blockchain, on the other hand, is just an idea. It’s an unregulated agreement between people that some virtual mesh holds the truth about everything. I don’t see myself trusting that.
I don’t think about the fact that my personal identity will be publicly available in blockchain because I am never going to enter it there in the first place. I value my privacy too much to have it compromised on every computer that is part of blockchain.
Maybe in a future this technology will replace banks and other similar institutions, but in my opinion it is very hard to tell. Predicting future, especially in terms of technology, is very often completely inaccurate. Sometimes things which people thought that will revolutionize world proved to be useless and sometimes technology came up inventions which no one was expected 10 years ago.
I don’t my storing my identity information in blockchain as long as it will be well secured and I will have control over it.
It was hard not to hear about it when you are working in IT, so yes I've heard about it not only in the context of cryptocurrencies. One of the interesting areas where blockchain can be used that I've heard about was the healthcare (storing health data).
Do you think that blockchain technology could replace such institutions as banks?
It could, but it won't happen soon because people do not trust this technology, they got used to banks and other institutions.
What do you think about the fact that your personal identity information will be stored in the blockchain and as result publicly available?
I think today almost all our data is publicly available, we (and companies storing our data) do not secure it properly and there are a huge amount of data leaks.
I don’t think that blockchain will replace institutions as they are very important third-party entities that assure various trades and agreements that blockchain can’t do in most cases. However there are many use cases for that technology, even within financial institutions.
It depends, even now we have lots of information publicly available. Take for example KRS, which stores information about your loans and other financial records, nobody sane argues with this approach as it validates your financial situation.
Personally I not really believe that now banks have assets which cover the value of their virtual assets. And in addition, does physical/paper money is something different than virtual? It just paper which has it's value just due to the agreement between people which in addition influenced by the economics of different countries.
Would you like to share your personal data publicly, even though it protected?
2. I think that for certain it won’t. One of the features that blockchain does not have is just support. And if some organization would implement it on its own so why not the banks? We have cryptocurrencies already for quite a long time and they are still just speculation bubbles. Currency can’t be so unstable if we want to use it on daily basis
In my opinion it would be grate to have some changes. Banks are owned by reach people. Reach people want to have more money. So could imagine those people can do some tricky thinks to have became reacher which is quite equal to have more power. So yes, I think it would we grate to have something which is not depended on those people.
Personally I don't really care about my personal info on the internet. I guess it is simple. If there are some things which you don't want to share, just don't put it in the internet.
As for privacy, I am not a fan of publicly sharing all my info. Even if you have nothing to hide, your personal information could be used to harass you or take action against you.
I don't belive that blockchain can possibly substitute banks in near future starting from the fact of distrust and quite hard way to use it continue with old people ruling banks and finishing with chicken egg problem.
Storing all info in open quite dangerous. Reminds me of one episode of black mirror series where everybody had public rating and that didn't really good for mental health of people.
My knowledge of the blockchain is not very big, but it seems to me can replace institutions such as blacks, because it is growing rapidly.
Our data is available to the public, for example via facebook and many other possibilities, so it will not change much.
2. I think that banks will find out how to use it their way and how to provide services using blockchain
3. Maybe I should be, but I'm not afraid - currently a lot of personal information about people are already exposed to the public
I think, there is quite big possibility that blockchain technology will replace such institutions as backs. There is an opinion that it will happen in the near future, but this is just an extra speculation of individuals. Undoubtedly, the technology is new and promising, but it is at the very beginning of its path and it will take time until the technology becomes understandable and applicable for the average user of financial services.
Honestly , I don't want my personal data to be in the public domain.
2. Replace - no. Accelerate, secure, improve - yes. As stated in the video, we need people who will enter this information into the blockchain. Yes, you can reduce the work of people to a minimum, but without them, the system will not be able to function at the beginning.
3. It's no secret that we already provide a lot of personal information in social networks. Accordingly, many people can see it. I think it is better to know the truth about a person, so I don’t think it’s bad.
Yes, of course blockchain technology can replace such institutions. Everything is developing very fast so why not? Of course, it's new technology so it will supporters but I'm sure that people as my parents don't want to change anything because everything is okay for them. As I said, blockchain can have a lot of supporters but only in younger generation.
My personal identity information will be stored in blockchain? It's not something new. Currently, we are living in times of surveillance. There were a lot of rumors about Facebook future when it turns out that they are storing informations about us but nothing has changed. Everybody still wants to use it.
I think that nowadays there is no person on Earth whom never heard about "amazing future technologies" like blockchain. But in reality blockchain isn't golden bullet for everything in our world.
Do you think that blockchain technology could replace such institutions as backs?
Absolutely no. Maybe blockchain will be integrated as a part of security, but transaction processing is more complex then storing a record in database, and speed is crucial, but nobody talks about how slow slow blockchain is. And blockchain is really slow. So as for me, cryptocurrencies is just time-wasting.
What do you think about the fact that your personal identity information will be stored in blockchain and as result publicly available?
The fact that something is stored in global network, doesn't mean that anybody just can access your data, now everything is stored encrypted, so no, I don't care.