The Blockchain And The Society- Will Blockchain Replace Everything?

in #blockchain7 years ago

It's funny how the generation changes. There's this old question that we all might have heard at least once in a lifetime: is it on the database? Yes, the very same question can and is more than likely to be replaced by something as: is it on the blockchain?

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Blockchain as a Social Change

When it comes to the social aspect of human life, it is influenced by various factors around us. The society is influenced by various social, cultural, economical, political and ideational factors. Not to mention, technology is one of the most important factors that brings numerous opportunities. Whether it's health, education, humanity issues, food, climate etc, blockchain can bring a change in any these areas. Blockchain is the next evolution in process. We not only have transparency and awareness, we also have the ability to use the immutable nature of blockchain and the power to utilize smart contracts which is really game changing.

One big promise of a blockchain is to help the developing nations. The people of those nations that somehow rely on remittance can have a great benefit from using the blockchain technology. People who work abroad currently send their money back home using banks or other third party compliance and pay a heavy transactions fee that can go as high as 12%. By using blockchain, they not only profit from the negligible transaction fees but also cut off the need of any middle man and thus ensure reliability and security. This is one of the many ways that blockchain can help people all over the world economically ans socially. Even in the climate issues, for example, we can use carbon trading using DLT via ledger technology.

Here are some areas that could benefit socially by the implementation of blockchain:
tourism, job creation, reduce corruption, food aid program, reduce human trafficking

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Blockchain as a Economical Change

The careful management of resources is what economy is. It's a boarder topic that the economists are trying to research for years. There's been an active ongoing research on finding ways to improve the economy of a state, nation or even the whole world. Many economists are looking for ways to improve the overall economy of the world so that each one of us gets a happy and phosphorous life. In this era of research and technology, some of the pioneers and speculators have already speculated the world with digital economy flourished with cryptocurrencies.

Blockchain can drastically change the financial system and the current banking system. From transaction speed to the transaction limit and fees and whatnot, out traditional/current system is far behind the blockchain technology. Blockchain technology has this power that it can do a transaction literally on a blink of eyes and you won't ever have to worry about any middle man to verify the transaction. We have already achieved some of the highly advanced technology that can handle millions of transaction per second, and also those transaction themselves will verify other transactions in the network. It will be highly efficient to see the implementation of blockchain on economical aspect of human world.

Here are some areas that could benefit financially from the implementation of blockchain:
banks, industry, big/small corporations, non-profit organizations, government, colleges/universities, commodities, energy, data management, politics, gaming, marketing, real estate, social networks etc.

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Blockchain as a Technological Change

Technology is all about bringing revolution and changes that will make our life more convenient and easy. There's been a lot of revolution in technology in such a short period of time. It has impacted our lives in every walk of life. It is now very difficult to imagine our life without smartphones, computers, etc.

The real problem is not whether machines think, but whether men do.
~B. F. Skinner, American psychologists, author, inventor, and social philosopher.

It so obvious that there's never an endpoint to any development. Technology is one such never ending development. We might have achieved a whole lot of progress in this field, but there's always a question:

is it enough?

and there's always a answer too:

no, not yet.

So, what's the next revolution of technology? what is the next big step that could drastically change the way we live? If we ask ourselves such questions then the answer is always there. It's only a matter of time till we see a very promising answer. Some of the talented seers and geniuses have already found the answer to that very question. Guess what? A blockchain.

A blockchain is a technology that will cut off the need of intermediaries and help keep our data and information secured with end to end encryption. It keeps our information secure on a digital ledger which is decentralized and is practically impossible to hack. The digital ledger is distributed and runs on every single system that has access to it. The transactions constantly happen on the network and are validated by the community of participants and sometimes by the transactions themselves. It's not only about the digital assets that blockchain is trying to ease, but also all other kinds of problems like smart contracts, financial agreements, registration of identities, carbon credits, energy, votes on election etc. It is the beginning of next industrial revolution that will fundamentally change the way of life.

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What next?

you tell me :)

If you would like to learn more about the blockchain and how it works under the hood, you can visit my previous blog here

feel free to ask any questions if you have any confusions, and don't forget to upvote and resteem this post if you wish to spread knowledge.

Sharing is Caring :)

your loving steemian,
Aashish Kandel

Namaste, bless you :)

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Blockchain will become a reality

Yeah, very soon!

Blockchain should replace everything. It gives control back to the people. Apps built on blockchain can tackle bribery and corruption. Data will be public, thus it will promote new inventions. This is the golden opportunity and there is no denying that blockchain is the future.

very well!
This is indeed a golden opportunity, and we are almost there :)

Whats next? Only if I knew. Blockchain as a technology is hard to beat for right now. Maybe Elon Musk will cook something up with Space X or Tesla. Maybe there will be a new Uber or Amazon. All I know is that blockchain is gonna continue to get bigger and more mainstream in the next couple of years. I honestly think that we are early in the game even though blockchain has been around for 7 years.

Blockchain may have been around for 7 years, but it's potential has been visible just recently. 2017 was one of the great start and we will follow along :) May be uber or amazon will one day be working on a decentralized platform, who knows? Maybe Elon Musk will see the great future with the blockchain society.
This is really a game changer!!

I almost think that Elon Musk serves as a sort of antithesis to what blockchain represents. Not to knock the guy too hard or anything, but Elon Musk is essentially a venture capitalist who doesn't seem like a bad guy. However, he is still at the head of a hierarchical and centralized organization that has had ongoing conflicts with his workers and labor regarding pay and that. Blockchain - to me - represents an incredible alternative where rather than a centralized and hierarchical structure for production and development we can see things resemble a more open source protocol like that of linux. We're talking the collaboration and collective ownership of all people in a project, not a corporation owned by Elon Musk and developed and led to his personal whim. Decentralization is the name of the game, and sure anyone can participate but nobody owns it. I think this facilitates far greater outcomes as all the nodes work together rather than for someone.

(At this point I'll say that Elon Musk is more just a figurehead for my argument and I'm not trying to talk down on him too much).

This is very forward thinking, and a great read. I find that my parents have a very hard time grasping a very big change in society, but we all will have to if we want to benefit from the future.

I am so glad that you find my blog interesting :)
If we want to grasp a very big chance in society, we all should be forward thinking.

It's funny, my parents (whom are in their 70's), are trading crypto but my brother-in-law who is x10 years younger than me, can't get his head around the concept, therefore he just doesn't believe in it.

That's pretty funny

I think the average person is scared and intimidated of what the world would be like if the block chain was able to take over. I believe it’s the way of the future and everyone who admits it is here to stay will be better for it in the long run. Appreciate the time and effort you put into your post! All the best

I am grateful to your appreciation!!
Blockchain is in fact confusing and intimidating for an end user, so are other advanced technology :P
If we wanna make mainstream adoption of blockchain possible, it should be in such a way that it won't affect an average person on their end. The underlying technology should be replaced by the blockchain technology in such a way that the end user shouldn't feel any difference on their usual activities. This is all a challenge, and there are very few developers working hard to make this a reality. I think it's only a matter a time :)

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Thanks @deepapoudel for your aid
appreciated !!

you're welcome!
hope this contributes to the visibility of your awesome article :)

This is an interesting post. I haven't thought about all the potential of the blockchain

nice that you know now :)
the potential of blockchain is limitless :))

Lets go blockchain I really think this tech will change the way we live! followed and up vote looking forward to more post! If you get the chance check my profile out I think you will enjoy it i'm new and trying to get my profile out there.

Thank you!
I would love to visit your profile

No doubt blockchain is the next evolution in process but i do't think so that it can be so generic on planet earth.

I think it's only a matter of time.

This post has received gratitude of 7.33 % from @appreciator thanks to: @deepapoudel.

appreciated !!