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<blockquote data-quote="Faceplanted" data-source="post: 3871546" data-attributes="member: 56697"><p>You don’t understand the meaning of trustless and decentralization.</p><p></p><p>Any company can run ibms blockchain, it’s literally a private database. True decentralization takes the power and “truth” away from say nestle, and instead puts all of this data on a public ledger.</p><p></p><p>The only way you can have multiple nodes or miners wasting time and energy to verify info and data is to give them a reward. This where the whole “crypto currency” idea comes from. To be honest, I will say I disagree with brownslave and I think crypto will never be a true “currency”. I think every currency besides bitcoin is useless. Crypto will never see adoption as a payment method for persons/retailers.</p><p></p><p>I do 100% believe that smart contracts and oricals will put the vast majority of attorney and finance people out of business</p><p></p><p>I also believe supply chain tokens... will see massive adoption. If I can use a supply chain token, provide 100% transparency on the item, and cut out my whole supply chain/billing/ordering department out and save money, that is a big deal. Also, some supply chain solutions offer a business encryption on the data. So say business X has a supply deal with business Z. They can encrypt the price data so computers can’t see, yet upload the farm to table data to show transparency.</p><p></p><p>For example, nonshim aka nds which is one of South Korea’s biggest supermarket chains has alresdy signed a deal to track every single piece of meat on the blockchain. This will include data down to which cow the cut came from, the vet health approval for the exact cow, as well as temperature data for the exact cut. This will all be 100% public accessible data. I have heard from my sources that because this nongshim beef tracking project was so sucessful, that the whole country is going to adopt this system within the next year. It cuts costs and provides transparency. The more “bundles” or transaction that are on the mainnet means more rewards to people running nodes which are storing/verifying/challenging information which results in demand for the tokens to run your own node.</p></blockquote><p></p>
[QUOTE="Faceplanted, post: 3871546, member: 56697"] You don’t understand the meaning of trustless and decentralization. Any company can run ibms blockchain, it’s literally a private database. True decentralization takes the power and “truth” away from say nestle, and instead puts all of this data on a public ledger. The only way you can have multiple nodes or miners wasting time and energy to verify info and data is to give them a reward. This where the whole “crypto currency” idea comes from. To be honest, I will say I disagree with brownslave and I think crypto will never be a true “currency”. I think every currency besides bitcoin is useless. Crypto will never see adoption as a payment method for persons/retailers. I do 100% believe that smart contracts and oricals will put the vast majority of attorney and finance people out of business I also believe supply chain tokens... will see massive adoption. If I can use a supply chain token, provide 100% transparency on the item, and cut out my whole supply chain/billing/ordering department out and save money, that is a big deal. Also, some supply chain solutions offer a business encryption on the data. So say business X has a supply deal with business Z. They can encrypt the price data so computers can’t see, yet upload the farm to table data to show transparency. For example, nonshim aka nds which is one of South Korea’s biggest supermarket chains has alresdy signed a deal to track every single piece of meat on the blockchain. This will include data down to which cow the cut came from, the vet health approval for the exact cow, as well as temperature data for the exact cut. This will all be 100% public accessible data. I have heard from my sources that because this nongshim beef tracking project was so sucessful, that the whole country is going to adopt this system within the next year. It cuts costs and provides transparency. The more “bundles” or transaction that are on the mainnet means more rewards to people running nodes which are storing/verifying/challenging information which results in demand for the tokens to run your own node. [/QUOTE]
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