Cryptocurrency and blockchain technology are here to stay. That’s the future. Instead the concern we should have is how blockchain technology might be used maliciously in this future.
I am pro-cryptocurrency personally. But I consider it importantinnocent
rstand not just whether it is the future, but how it will be used.
Privacy will take another hit with blockchain.
Although largely described as secure and private, blockchain technology carries risks to our privacy. Blockchain, as a transparent and immutable ledger of all that has been, will be used to serve the interests of those that benefit and earn from our personal information.
These can be governments, businesses or service providers. And they are likely to prefer centrally controlled rather than decentralised blockchain solutions.
"Currently, every card transaction, every website visited, every online social interaction, even our movements and exact location are routinely collected and analysed to build up a picture of our habits and preferences"
The big risk of data mining
Compartmentalising every piece of us into a marketing opportunity is inhumane, but not the worst that this data can be used for.
Think about the ramifications of the Social Credit System in China, which increases surveillance over people and may affect access to services if you’re not an up to standard person. A blockchain version of something like the Social Credit System may not be far off.
Consider what would happen, if governments began using blockchain technology to surveillance money. “Euro 2.0” is a small test project for now. But money on the blockchain would give a tremendous amount of information about us that’s hard to hide and impossible to erase. Bitcoin advocate and Lets Talk Bitcoin talkshow host Andreas Antonopolous believes “changing the way money works only ends up punishing the innocent
Used in the right way, blockchain technology offers all-encompassing and uncorrupted data mining possibilities that far surpass existing systems.
Since the law currently does not effectively protect citizens’ rights to privacy, and will likely not do so in the future either, blockchain can infringe privacy and personal data even more - unless managed properly.
“In fact, the blockchain ledger could be worth up to 20% of the total big data market by 2030, producing up to $100 billion in annual revenue. To put this into perspective, this potential revenue surpasses that of what Visa, Mastercard, and PayPal currently generate combined. Big data analytics will be crucial in tracking these activities and helping organizations using the blockchain make more informed decisions.”
That’s only the worth of our Big Data in the banking sector
And with the security and immutability of blockchain technology, you can be certain that the data they have on you will be even more accurate and precise
The future is digital and its being built now. Dont be left out.
Cryptocurrency is the future. It can't go away and it's here to stay with us. We all love it. We love privacy and the technology it offers.
The future of cryptocurrency is bright. Join the moving train now.
Future is bright and we have already entered into new era of economics and finance.
Future is moving towards digital/token economic. And this will bring more flourish ideas in future for making businesses more accountable, scalable and transparent.
The cryptocurrency will rule the world
The future is bright for cryptocurrency as we can see more and more involvement from the govrenment and private sector alike. As it becomes more develop the technology will soon overtake fiat and there will be a huge growth and profit sharing for anyone involved
Cryptocurrency the Digital Money is the Future ahead. There are more than 2400 Crypto Assets in Market.
95% of them will Vanish in Coming Years and Assets with only Real Use Case and Utility Tokens will have place in Market.
Right Now in 2019 Cryptomarket is Maturing and there is no place for all Silly Coins Conducting ICOs.
Bitcion BTC is Still Dominating market with 52% and Ethereum Stands in 2nd Place. Stellar Lumens XLM is more used by Community than Institutions. In March IBM along With Stellar Foundation will Announce major business ties with 40+ Banks for International Cross Border Payments. Ripple on the otherhand is Losing partners with the evolution of Superior Technologies and less Community Usage.
2019 Will be Significant year with Various Govts Around the world Framing Rules for regulation of Cryptocurrency and Maybe the last year for the Public to Afford to Buy BTC.✌️
Paper money will fade away, cryptocurrency will rule!
Future is bright because crytocurrency is money, money is needed to all people in the world.
if the current trend of acceptance continues and govts. are successful in forming laws and guidelines for the sector then it will see a boom pretty soon.. as soon as within the next 2 - 5 years..