Home Forums Hunting & Shooting Hunter's Campfire Why blockchain/cryptocurrency will rule the world

Here are links to two extensive articles explaining the fundamental changes brought about by blockchain technology (what many think of as "cryptocurrency" which is but one use of it) in the banking industry and other industries.

Blockchain is not going away, and the recent bubble-bursting has nothing to do with the future usage of the technology.

Especially pertinent to this board is #26 in the second article. No thanks!


Blockchain takes over financial industry

Banking is just the first: 36 others affected

Short answe is no.
The Blockchain technology will change the interface between the buyer(s) and seller(s) in a major way. Crypto will only be used in bulk by crooks, that is the one and only allure it brings to the table. Governments need to for many reasons need to track money flow.
On the personal level, I only need to answer one question. Why would I want/desire/need to put my liquid assets into a pipeline(Internet) with no oversight/insurance and into a position where anyone in the word can steal it?
I don't.
Blockchain however will put most middlemen out of business in fairly short order, the build out hasn't started yet on a large scale. But most Companies have Capex on the ready.
It may be the one thing that can save IBM, only time will tell.

Just one of the problems with all crypto currency is that it's cloud money. That is, it's 100% dependent on internet technology. In war one of the first things attacked is communications, and if the attacker has nuclear weapons then a single high altitude detonation that produces an electromagnetic pulse will take out the grid and communications in a large area. A large solar flare such as the 1859 Carrington event could disrupt, damage or destroy much of the internet. By the time the internet is repaired many will find their crypto money has disappeared into a cloud of obscuration.