Post
Topic
Board Economics
Re: Will Blockchain trigger a massive boost in our economy?
by
qwertyup23
on 17/09/2019, 16:25:02 UTC
The idea behind the blockchain being applied to transactions revolve around every time being subjected to a public ledger, which can be seen in the internet.

For example, in the supermarket every product comes with a label with a scannable QIR code. In that QIR code contains all the information of that said product including where it came from, its origin, and all the necessary details which are relevant. Again, the very idea stems from the transparency of information on the market.

From the example above, people would be more inclined to purchase products given that all information about the said product are unalterable (which is reflected on the blockchain). This can potentially boost the economy in the long-run and eliminate the doubts and ambiguities we have.

Blockchain has done very little to shift economies around, sure a few lower class people got rich but doesn't change the system at its core as more and more billionaires gain mass amounts of power over us with their giant companies.


Never the less, blockchain will be here. You might just get a way to be one of those lower class who got rich.

The future will still be determined by how we will start using using blockchain for good. With all the high tech AIs and sophisticated projects we have today, its not impossible to reach a certain development to help country's economy and cryptocurrencies but blockchain products that might just help production and manufacturing.

I do believe that the blockchain may be implemented sometime in the future wherein the access to the internet would become an essential to all. Unfortunately, due to economic discrepancies between developed and underdeveloped countries, this implementation cannot be applied in the present.