BlockChain is assumed the next Internet in the near future. Can it be applied to other areas like cryptocurrency?

[Didosky]

I need more info ti be able to digest this question

 

[Dowenship]

I need more info ti be able to digest this question

Not next Internet, but you can call it next banking system, block chain can only be operated through the Internet and its mainly for crypto currency..

 

[Nurudeen]

I don't think blockchain is really very related to internet. They only use it to create a crypto currency so it's more like a Currency than been used as internet based system.

 

[Lens]

Blockchain is just a medium or platform through which a transaction takes place. It functions like a banking platform but it's peculiar feature is the decentralized nature. Blockchain technology is rare technology and perhaps , the best technology in human history. The inventor deserves an accolade.

 

[eLdavis]

To use the term next Internet is wrong as Blockchain works through the internet. It can be used for other things I believe. Like banks for example I believe they can also use the system for their transaction.

 

[Yusuf]

I don't see blockchain working with what you just associate it with. For me I think blockchain is more or else like using it to effect a transaction in the crypto currency exchange Business that's all

 

[Suba]

Blockchain is a system of recording and storing data linked via cryptography, originally used to store crypto (Bitcoin) transactions.
In the blockchain system there are 2 records, namely transactions and cryptographic blocks. Currently Blockchain has been used by government and private institutions to record population data, valuable assets, health data, finance, taxes, cross-border payments, financial audits, create smart contracts etc. So blockchain is not a substitute for the internet, but blockchain runs on the internet.

 

[Zevin]

Even though the first use of blockchain was to create cryptocurrency, blockchain use is not limited to digital currency, it hs wide use in various financial services and data storage.

 

[Justin]

The blockchain technology can be used for a lot of things, and not just for creating crypto currency. Blockchain has decentralized the money, it has redefined the wealth.

 

[Rhapsody]

Yes Blockchain technology can be applied to other area. Because Blockchain technology is now a course in some universities. And it can not be a course just for the creation of currency but to use it for other means. A country has implemented Blockchain technology to there security system

 

[Kelly5]

The blockchain technology is basically a language used for the cryptocurrency space and as a such is already in existence as the cryptocurrencies are in existence even into the future

 

[Grandeur]

We know that block chain was a system written to process transactions on the crypto currency market but there's more it can do, I recently learned that the government of a country wishes to keep tax records in it.

 

[Josemendez]

I need more info ti be able to digest this question

Funny enough , it was cryptocurrency that brought the knowledge of the blockchain to many people . So cryptocurrency is already there.

 

[Niftyyem]

Block chain is the technology on which Cryptocurrencies ride, so it is the backbone not just applicable. The adoption of block chain technology in different areas and sectors of the economy has also increased greatly.

 

[Nomad]

The blockchain was used to create the first crypt currency in 2008, since then blockchain has not only been used to create crypto currencies but also various financial services like decentralized exchanges, decentralized banks, decentralized insurance, money market, etc.

 

[Setho]

Blockchain is actually a system of continuous storing and retrieving data. The idea of cryptocurrency is actually built using a blockchain so I think that they are going to be around for a long time to come.

 

[Emmy]

I don't know anything about blockchain until now that I see this thread. Well explanatory of definition of blockchain. I have been wondered how people are able to create their coin as if they've connection with crypto' founders. Now, I get to know that it is through blockchain

 

[Alexandoy]

The blockchain was used to create the first crypt currency in 2008, since then blockchain has not only been used to create crypto currencies but also various financial services like decentralized exchanges, decentralized banks, decentralized insurance, money market, etc.

Until now I still cannot comprehend the concept of the blockchain. I have been reading from time to time about it and it makes me wonder why the concept would not sink in my mind. It's not the posts that I read but also some research that I do about blockchain. Maybe I need someone to explain to me.

 

[Nomad]

Until now I still cannot comprehend the concept of the blockchain. I have been reading from time to time about it and it makes me wonder why the concept would not sink in my mind. It's not the posts that I read but also some research that I do about blockchain. Maybe I need someone to explain to me.

You can learn about blockchain on the Internet but the Forums are definitely not the place to learn because here you will find half baked minds who share half baked information. Well, there are some experts here but they will not bother to write a long tutorial for a little rewards.

 

[Kelly5]

Untill the emergence of the Bitcoin cryptocurrency, we never knew about the existence of the word blockchain. Cryptocurrency brought the blockchain technology into the lime light