Block chain technology can become a subversion of developing technology

Block chain technology can become a subversion of developing technology

Block chain technology can be developed in almost all industries, from the financial technology company to the GLAM industry, some companies such as Backfeed are through smart contracts will block to the center of the coordination mechanism for chain. Due to the emergence of DAO attacks recently, once the error, the innovation block chain will also appear some difficult social problems based on. Although such as Ethernet Fang platform may slow the development of solutions to these risks, but from a long-term perspective, we need to think about who is the beneficiary of block chain application. In order to understand this problem, we need to consider the infrastructure block chain technology operation, and evaluate it, and not just on code vulnerabilities.

The purpose of development is to support the initial block chain bitcoin, essentially a block chain of public accounts. This is a huge electronic form a record of the information assets, transactions can be used in any form, and no intermediate control entities. Block chain by providing a secure distributed authentication and record transaction information, the third party is required to verify the transaction. Therefore the blockchain technique can be used for autonomous machine to machine communication, so things and sharing economy into a new level (for example: car rental and service management can own).

Block chain technology on the application in developing countries only in the field of payment remittance, and provide an alternative currency in a stable financial environment.

However, the blockchain technology can also be used to appear in the sharing economy in developing countries, when my fieldwork in Malaysia Sarawak area KedayaTelangUsan, has discovered such a use case.

This family of shared economy

In a shared economy, people want to make full use of their assets, through the use of assets to charge people to achieve – holiday accommodation rooms, garage and storage for rental cars (with driver).

In the British colonial rule, is not only the Orang Ulu crops in order to survive, but also to profit, so there was a representative of sharing economic characteristics of the payment service.

A study from the Kenyah SimpsonNjock of my colleagues said, before you have to share a wild boar and others, but now if someone wants to have a little boar, you will ask you how much money?”

Before the construction of roads in ten years ago, Wu Lu to Kampung by large boats (Village) need a few more days. Because every village has only a small part of people have cars, so Ukraine Shandong developed a carpool system, you can pay ute to the owners, let him take you to the destination, it is like Uber carpool service, but not through the Internet platform. In another example, the princes of the room also includes upstream residents room.

These systems are also in some non bank service area (without a bank account or credit card area) has been the development of these areas, people’s life is to survive, and the survival is the main profit through the production of handicrafts and crops. Some of the things for the exchange, rather than sell.

Another form of international development

Since the use of emerging technologies in development projects are controversial, research shows that some projects can enhance economic development and consolidate the political class, at the same time from the so-called “at the bottom of the Pyramid” appears to encourage entrepreneurship.

Complex problems can not solve the block chain development industry, but can help to coordinate the existing system, so that they become more efficient, but not the reconstruction of a system. For example, the block chain can be achieved from the forest industry (such as logging and logging into oil palm healthy forest industry).

This natural and cultural heritage can be protected, instead of disappearing. In the vicinity of the Brazil barrio, since 1998, there is a technical project can help promote the development of local tourism, and the technology project first through the website propaganda hostel.

Technology has changed the distant Malaysia Sarawak life, let people through information and social networks to provide carpooling service, selling handicrafts. The emerging peer-to-peer platform can automatically through the system more efficient, bring more economic benefits, did not charge high fees as business platform.

Block chain technology can become a subversion of developing technology

The most interesting change is the most important block chain, this is for the economy has not been well-known financial institutions full service construction. The blockchain debate focused on the legal and automatic management dispute. We need to know is that there are many areas of interaction have not been very good market, regulatory and institutional services, block chain technology can reduce the need for interaction with these market institutions, while providing simple trusted transactions.

Block chain still has unlimited potential, not only because the code vulnerabilities interrupted development. In order to make the block chain technology to run, need to establish a reliable connection, and to build the infrastructure. At the same time some exchanges need to establish a mobile broadband base station, but we found that these base stations are not well maintained, or are too crowded. The possibility of economic development brought by the block chain application, it is an ideal novel concept, unless there is a more fundamental digital infrastructure needs, can become a reality.

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