The Fourth Industrial Revolution with Blockchain, Crypto Banking, AI and the Government

Blockchain and Artificial Intelligence as technologies has seen a shift in observation by critics, investors, miners, users, and the cyber population, in the past two years. With words in support like a revolutionary bend in banking–Crypto Banking, automation of services–Artificial Intelligence and the capabilities of eliminating regulatory hurdles of managing/securing/creating data–Blockchain; the last 5 years has been interesting, controversial, and worth a mention in cyber history.

The power of networking fused with programming tricks is what Blockchain can be called at present and imagination empowered by technology is what Artificial Intelligence can be entitled to. But the real question is that all this necessary and smart drift in technology capable of being called as the Fourth Industrial Revolution in spite of the controversial infrastructure attached to it by the governments who are scared of a “little change”?

“Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly”–Vitalik Buterin

Since Blockchain earned its reputation by an entirely successful community, Artificial Intelligence is backed by Tech Titans like Google and Facebook. “Artificial intelligence would be the ultimate version of Google”–Larry Page. Let’s go deeper into the relevance of these prevalent technologies and the actual and necessary use they are bringing in the field gawked by the governments.

AI, Blockchain, Crypto Banking ready for industry dominance in 2019

Since I have shared a small trailer like a piece for Blockchain and Artificial Intelligence above, I would like to throw some thunder on the most active, necessary and revolutionary implementation of the techs in a little detail.

The much-required Blockchain Implementation: Crypto Banking

The best edge given by Blockchain to us is Crypto Banking, apart from the undercurrents of several crypto coins. The future of payments is backed with security and security, as it is uniquely suited to improve verification of account balances, replace expensive and exaggerating middle process of validating transactions.

Blockchain backed crypto networks and Crypto Banks like Quorums–Ethereum based blockchain network by JP Morgan Chase, FotonBank–Decentralized virtual crypto banking system empowered for instant payments, and Crypto Bank are leading the mentions in the crypto world.

Since many in the finance arena isn’t quickly sold on crypto as they belong to the organized business sector, the viability of crypto backed banking is questioned and in few cases dismissed. Despite the record investor profits gained from the GOD coin, Bitcoin saw 1,300 percent rise last year i.e. 2017, most banks have chosen to stay away. However, Goldman Sachs is reportedly betraying the herd mentality developed for Blockchain and plans to establish the first bitcoin trading operation at a Wall Street bank according to CNBC.

More, JPMorgan’s Former Blockchain Head, Amber Baldet, comments about the entry of JP Morgan into Blockchain as: “It’s an open-sourced project, it’s completely agnostic and industry agnostic as well.”

The Banking Revolution

Initiated by Andrey Pashkevich, CEO and Co-founder of FotonBank, explains: “With the ambition of providing immediate transactions, we focussed on forging a decentralized wallet that would have a capability of maintaining anonymity, ability to get instant payments, along with an ease of cryptocurrency-to-fiat transactions, smart integration with external wallets PayPal, Visa, WeChat, etc, and compliments of cashback programs; all done to implement the best of blockchain.” In short, the mainstream finance arena can be easily displaced with the relevance of blockchain and its security promise.

AI and its “Quantum” debate

The intention of Artificial Intelligence is to change the existing social and work boundaries with the assistance of man-made observer and follower of trained commandments, i.e. a robot or superficial algorithm. Artificial Intelligence, since the years, has gained polarized opinions coming from technical, legal, government and academic practitioners. But the technology has indeed proved every headline it has in its name, with many well-thought of and implemented examples like:

Quantum Computing: Quantum computers or supercomputers in simple terms are known for their own inherent risks. Quantum Computing is different from traditional computers as they are based on mechanical phenomena like entanglement and superposition, unlike regular computing systems which are based entirely on binary systems. Nigel Smart who is the founder of Dyadic Security comments on Quantum Computing:

“…all of the world’s digital security is essentially broken. The internet will not be secure, as we rely on algorithms which are broken by quantum computers to secure our connections to websites, download emails and everything else. Even updates to phones and downloading applications from App stores will be broken and unreliable. Banking transactions via chip-and-PIN could [also] be rendered insecure (depending on exactly how the system is implemented in each country).”

To close the argument on Quantum Computing, I will feature the most debated definition of the invention, which clearly explains it’s feared capability–“The genius of Artificial Intelligence basically explains the behavior and nature of matter and energy on the atomic and subatomic level.”

Blockchain:

Steering towards to the GOD coin, that started all the hype, Bitcoin deceased in its popularity and price, both, this year, and might continue to fall, but this will finally give Blockchain the chance it deserves as it will come out of the undercurrent of several cryptocurrencies.

In Spite of several opinions, predictions, and thoughts on Blockchain, the tech will continue to breed in inventions. Evidently, Fintech and Blockchain Tsunami is triggered by Crypto Networks, Exchanges, ICOs, and Wallets, like Coinbase and Xapo, all existing with millions of dollars bid under their name by smart investors. More, companies like FotonBank are bidding in contributing towards the Fourth Industrial Revolution through its legitimate implementation of Blockchain. All of this is done on the promise of “created trust” that Blockchain provides.

The Verdict: AI and Blockchain

It is no news that AI and Blockchain have experienced a little overlap in the past few years all due to the emergence of Big Data, that has proved to be a catalyst in between Blockchain and AI relationship. The organization of data for businesses through Big Data, created especially for AI and the advancement of Blockchain triggered through the distributed ledger, further promoting secure and automated storage; the novel combination is a part of the reason for the flagging of Fourth Industrial Revolution.

How Blockchain is Connecting Humans

Blockchain or the technology of trust, has redefined the way we transact. The technology is based on a patriotic concept, i.e. a huge database authenticated by a wider community, rather than any middle authority further allowing a self-sustaining, secure, and fast movement of information/payments/data.

To be more technically sincere, what happens when you integrate computers, and internet– records are shaped, established over a distributed network of computers and paired with preceding entries in the chain, developed, as a result of continuous data addition (blocks), conclusively, a blockchain is forged.

Since the technology is now no more extrinsic to timeless controversies, the utility of the technology is what is being debated, left, right and center, everywhere online, offline, the right usage or implementation of the massive technology is still being “talked”. Adding some more debatable, but logical and proof-injected, the utility of blockchain, in this article, I will discuss the fusion of social media and the wide and economically responsive tech.

How Blockchain works and Why its proof model provides trustless and distributed consensus?

Blockchain has the potential to move beyond just buy and sell; it has the capability to change the way social interactions take place today, at Viral News Teller–Facebook; Excessive and Unnecessary Trolls–Twitter; Restricted Content–YouTube and Open Scams.

Required and proved benefits of Social Media with Blockchain backing

  • Exclusive control over content: A decentralized approach to connectivity, and a good riddance from a central server, no single authority can enforce monitoring, and control over user-generated content. Since there has to be a financial incentive attached to maintain the decentralized nature of the platform, cryptocurrency can be used to reward the hosts who continue to contribute technically. Again, this removes every financial liability on the company like advertising, payments and software maintenance.
  • The removal of middlemen: Portals like Upwork, Freelancer have annoyingly high ritualistic checks that are indeed necessary but they reduce the employee/employer power. Considering Social Job Portals are now relevantly required, blockchain based SN job portals are evolving where the data is controlled by the users. An already established an ongoing effort of Humans.net is bringing back the concept of privacy back in the most compulsory part of internet i.e. online services. Built on the axiom of “by the people and for the people”, the SN portal charges no fees, has no middlemen, and has no uncertainties of user profiles.

In an interview with Entrepreneur, Humans.net, CEO quotes: “The fundamental building block of Humans is the development of a huge databank or directory of people, and their skills, made accessible to other people on the platform.” and continues to say “We will be a full-fledged decentralized system with social recommendations in the blockchain ranking the skills and services on offer.” In short,  users can provide and seek services through the clever implementation of the blockchain.

  • Riddance from Data Manipulation: Eavesdropping on user data is at present an outcome of rising connected population and interestingly, as shared earlier, Facebook was the false prophet of privacy. However, the third generation of social networking will give users the stick of control, as they can monetize on their content, and decide whether their data is eligible to receive payments or not.
  • A place where user is NOT the product: Social Media is a goldmine of user data which has been exploited/ or is still be exploited by Facebook, Twitter, and Instagram; Blockchain which is the spinal cord for new social media networks, eliminates the possibility of exchanging aggregated information for targeted marketing and money exhaustive campaigns. Hence, the user is NOT the product with blockchain based social media networks, instead is the driver of a reliable, pure and a content-rich community.
  • Improved, Promising and Proven Security: Digital sales is a painful reward of targeted marketing where the smartphone penetration has been taken excessively for granted and has played the catalyst for promoting the same, i.e. user targeting. Facebook was recently accused of invasion of privacy, done at a ridiculously massive scale. The result was a mockery, but again, Facebook is still riding the same horse, this time carefully.

Blockchain-based social networks ensure security and privacy through a distributed consensus mechanism further giving the freedom back into the hands of users. Companies like Nexus is working on decentralizing and encrypting all the data and uploads.

  • A new way to transact payments: Facebook is at present working on creating a payment platform, integrated with messenger but as history says, there is always a disjoint in terms of the messaging and the payment platform, how much is achieved, is to be seen. On the other hand, blockchain based social networks can easily prosper in terms of payment capabilities as a smart token exchange through messaging is already into play.
  • Freedom of Speech: The result of social sharing today is that each and every user, leaves breadcrumbs of information which is usually picked up by third parties. This can happen intentionally or unintentionally as well, but the outcome of the same is usually uncalled interference. Blockchain-based social media networks phenomenally eliminate the need of user accounts and only use digital addresses which cannot be used, exploited or even determined, as well. Obsidian Platform is one of the companies that implement decentralized tech, and, as a result, the communication metadata is scattered over the globe, further giving “immortal privacy and freedom of speech” to its users.

What makes Blockchain a special ingredient in its awkward yet beneficial handshake with social media, is the combination of security provided by cryptography with the immortality of the internet.

Backing the claim with some examples, here is what a few blockchain companies are doing with social media networking as a key ambition. Stay with me!

Steemit: Steem, one of the earliest adopters of the blockchain, has matured into the most trustable, effective and organically growing blockchain based social media network. Unlike Facebook, that only implies viral content growth, Steemit, is based on a decentralized reward platform for publishers who can monetize on content and ultimately grow a community.

A Steemit user, David Kadavy in a short interview with Bloomberg says: “I feel like I’m in the Stone Age when I’m on Facebook or Twitter,” and continues by saying: “They have no value without what you’re contributing to them. If Facebook doesn’t respond to this, things can change very quickly. They should be very concerned.”

Sola: A hybrid of social network and media, commanded by Artificial Intelligence, has more than 700,000 users worldwide now as claimed by the website. Sola is responsible for spreading information at a viral pace, by applying AI algorithms further combined with user reactions. The quality content then reaches the user base of Sola where the rest is done, and that is, making it more viral.

As reported by ICO Alert, an interview with Sola’s CEO, he explains: “It allows us to share revenue from advertising, user payments, and partnerships with users, providing a strong financial incentive to use our service and create quality content.”

PROPS Project: The Props Project is an unusual yet very critical to the need of social networking today. The project is responsible for providing users with real-time engagement, content trending boosts, and gains upvote curation power, along with, knowing the status of their contributions to the whole network growth. Social Media stars like Phil DeFranco and Casey Neistat are broadcasted regularly on the platform, which has in a way, attracted many new users.

CEO of Props Project quotes: “We asked ourselves, how can we leverage our strengths and what would the next generation of a social video look like?” according to WIRED.

Opportunities within the social network that have become available thanks to Blockchain

The best example or indicator of public traction is the continuous, traumatic yet exciting up and down of Bitcoin price. This year 2018, was the year where Blockchain emerged into a greater collective conscious which was the reason why Bitcoin price has been swinging to and fro through hell and heaven. Knowing that blockchain will contribute consequently into cybersecurity, the smart integration of the tech with social networking will bring the following changes:

  1. Access to content
  2. Content Authenticity
  3. Content Consumption

Will blockchain-based platforms replace traditional modes of interaction? Predictions

It is a brutal truth that Facebook is in no imminent danger; the blockchain has the potential to offer a necessary solution to plenty of industries deep-seated problems. A more rewarding, interactive and intellectual experience can be created if the fusion of blockchain and social media maintains the growth it has come up to today. All we have to do is, accept!

Cryptocurrencies and Their Consistent Robbery! Are They Really “Indomitable”? What are Stable Coins?

Cryptos’ has seen a widespread green in the last two years as a result of a consistent fight for a right. The power of the people and for the people has been cleverly translated as a “digital chaos”, by the central banks and the chattering governments. However, what stays a fact, still, is the presence of cryptocurrencies, they are still there and they continue to breed.

“Virtual Currencies may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.”- Ben Bernanke

BTC dominance is slowly fading- a window of opportunity for other cryptocurrencies; it’s future, as a consummation of its controversial popularity, remains still buoyant. BTC, at the time of writing, is at 6700.23 USD, striving to hold its gains, and, Ether, another crippled yet principle performer, breathes through its turtle pace, at 290. 70 USD. These digital assets, nonetheless, are riding towards a momentum that has been taken seriously by investors.

The whole Crypto evolution, surviving on Blockchain- a decentralized, incorruptible, and secure public ledger, highlights a lot of questions, all of which, I answer one by one! Starting with crypto theft!

Cryptocurrency theft

Around $ 1 Billion cryptocurrencies ware stolen in the first half of 2018; disclaimer, it was really easy to do, according to an article by CNBC and reports curated by Carbon Black. The malware that is used and patterned along with a customer service is as cheap as $ 1.04 on the dark web and costs $224 on the surface web. This means that the crypto ecology is susceptible to an easy manipulation which depends directly on any frustrated yet talented hacker.

Carbon Black Security strategist Rick McElroy, in an interview with CNBC, states: “It’s surprising just how easy it is without any tech skill to commit cybercrimes like ransomware,” and continues to quote “It’s not always these large nefarious groups, it’s in anybody’s hands.”

These thefts come from crime groups dedicated to extorting exchanges and companies while organized cartels are also responsible for these sudden strangling of cryptocurrencies. Since cryptocurrencies are not entirely bulletproof, a fact only crypto ideated audience knows, the chances of anyone sitting in any Atlantic corner of the world, having decent coding skills is capable of dissecting the digital currency, for a reason as nominal to paying the rent.

With the theft news becoming a significant resident of all news channels critical of Blockchain and Cryptocurrencies, another question comes up;

Which cryptocurrencies can survive in the real economy?

Since not much is known about the overwhelming majority of cryptocurrencies so far, which means the fate of around 1,385 coins in the markets today is unpredictable; still, they are being bid up to multi-million dollar valuations. Let’s talk facts with an example here, Dogecoin, created as a fun response or a parody to the Bitcoin boom, at present has a valuation of $ 1.6 billion (at the time of writing). What’s more surprising is that the coin has no use case to back its accidental fame and yet investors are ready to make a wild bet with Dogecoin.

It is easy to determine the most prominent survivors in the list of most-traded cryptocurrencies.

Here are some of my predictions:

  1. Bitcoin: Emerging more of a store in value, Bitcoin the original cryptocurrency will stay and will continue to survive the market crash in future.
  2. BTC and Litecoin: Preferred for more daily transactions, both the cryptocurrencies are fast becoming a valid choice.
  3. Ether: Built on Ethereum’s universe of decentralized applications, the cryptocurrency is fast gaining traction, and has emerged out of its haunting past of continuous hacks.
  4. Dash: With its innovations in mining and fast processing, Dash has come out from the uniform of a fresher cryptocurrency and has promoted itself to a revolutionary digital asset.

Dash CEO, Ryan Taylor claims confidentiality: “We are the largest (cryptocurrency) in the space that is positioning ourselves as a payment network”.

  1. Stable Coins: Created as a resolution to cryptocurrency volatility.

Knowing that above coins have somewhere a future, the next thing I intend to discuss is what significant changes are new companies making to save crypto world an ongoing embarrassment.

What progress has companies made so far to ensure the safety of cryptocurrencies?

Since now we know, the history, present acceptance, issues, existing crypto theft trauma and rapid exchange crash, the next question arises which can fight for the crypto stakes, that is, what is the solution to all this?

Utility Tokens or more popularly known as User Tokens/App Tokens are not designed as investments unlike other ICOs, instead, they are designed keeping in mind the barter system. According to Strategic Coin, a startup can actually sell “digital coupons” in an exchange for its services to its clients or customers.

As an example, Filecoin, has raised around $ 257 million which had happened by selling tokens that offered users to have access to its own decentralized cloud storage platform. An innovative and bold step to promote service offerings other in an exchange of digital coupons which provokes trust in the whole crypto universe.

On the other hand, Rockz, a fully transparent asset-backed coin, claims to bring solidity, and trust in the crypto network and looks at changing the present standpoint of cryptocurrency. The network works on a 95% physical paper deposited in vaults and high-security bunker claims to fully support its investors and customers in case of bankruptcy. This means the value is stored physically which a sense of freedom to its users. How effective this sensible and much-needed change turns out to be, has to be judged.

Other than, Rockz, Security Token Offerings or STOs are the new kids on the crypto block. In the real world of investing, STOs works on the proposition of securing the money of investors as it is more fraud-proof and cannot be manipulated easily.

“Securities Token Offering aka STO is the next step towards legitimizing investor offering schemes for digital asset initiatives.”

Apart from these ICOs playing their luck, the crypto market also has something “stable”, part of which I discussed in the first half of this read. Here’s my screening of the coin so far.


Suggested Articles


The Stable Coins Debate: Trustworthy coins with low volatility or just highly anticipated market tool.

As the name suggests, Stable coins were launched in the market, as an attempt to maintain steady valuations in an era where cryptocurrencies rise and fall every single second. Since these unpredictable swings are nowhere characteristics of a currency, at the end they become impractical to use.

What are Stable Coins: A currency generally used as a mode of storage of value and a medium of exchange, with a stable value. Stable coins were launched in an attempt to accomplish the ideal currency behavior, that is spending the coins, and not storing them with minimum inflation.

I feel Stable coins are more of a representer, an ambassador for cryptocurrencies, as its increasing adoption will act as a catalyst to popularize the daily use of cryptocurrencies, and not store them. The stable alternative to other crypto coins, Stable coins, holds the capability to promote trading of goods and services, established over a blockchain application and assist in integrating financial applications as well as support market predictions.

According to Rafael Cosman, founder, and CEO of Trust Token comments on the potential of Stable Coins: “Stable coins are one of the keys to bringing the benefits of cryptocurrencies to everyday people, both in terms of price stability and decentralization of capital”. 

What comes ahead in my verification is how the validity of stable coins be ensured in future?

The “Stability” of Stable coins can eventually strengthen the entire backbone of international banking, as they give a liberty to update the core compliance structure of banking. Based on the decentralized moto, Stable coins will eventually uplift efficiency, and promote transparency further improving the user experience.

As an example, Stronghold USD is at present launching a new stable coin of their own based on Stellar Network. After a successful launch, this would become the first venture-backed up by USD token. In my opinion, this is a bold step by IBM, and it is not a surprise since IBM has its own Blockchain Platform launched within these two years of crypto and blockchain fame.

Based on a similar pattern, Rockz has planned to issue a stable Rockz token, backed by the Swiss franc, which allows the cryptocurrency community or audience to get a reliable and legal tool. This can be used for buying and selling of goods and services, as well as fixating market profits which can, on the other hand, generate crypto trust that is missing from the market.

Before closing this article, I want to discuss one more issue, that is recurring like a bad migraine in the crypto universe.

Wallets, Exchanges, and Digital Banks to secure cryptocurrencies; How true are they?

The psychological impact of continuous crypto robbery has created a crack in the trust investors had in blockchain earlier, and the audience as well. As Investopedia reveals, the most high-profile hacks of this year are Bithumb: $30 million, BitGrail: $195 million, Coincheck: $534 million, and Coinrail: $37.2 million.

Exchange crash and crypto theft are shaking the faith of the investors lately and with these vibrant hacks, a frozen effect is immediately seen on the crypto values. From where I see, it cannot be said that nothing can be done or is not done, cyber attack is as old as the internet and will continue to exist, if not tackled sooner.

Cryptocurrencies have a big future and they might be mankind’s only chance to have control in their own hands. They are not perfect yet, but it is a good thing, that they are there. Crypto world is indeed capable of trust, let’s cherish the opportunity it provides.

Blockchain: What comes first? An Opportunity or a Threat

Blockchain, with time, has gained a momentum in the technological debate since 2016. First came Bitcoin (in terms of debate), then came Ethereum, Blockchain followed and now, every other Linkedin update announces an ICO launch or an exchange. So, what allowed these ongoing controversial talks? Performance, and the unexpected promise of decentralized Technology-Power by the people and for the people. However, the world took time to understand that Bitcoin was a cryptocurrency powered by Blockchain, but it did not take time, for the Governments and the Banks to sense the threat; a threat to their decades of established control.

No doubt, Blockchain represents an important opportunity to revolutionize payments, supply chains, and revenue streams but it is also true that there are several unknown risks for both organizations and governments. What business leaders fail to understand is the actual grip of this emerging technology, which, does require an explaining!

Opportunities: Blockchain

The adoption of IoT (Internet of Things):

The blend of physical and digital worlds, IoT has been around some time now; 2017 saw around 31% increase in IoT connected devices, i.e. around 8 billion, according to an analysis firm, Gartner. This is set to reach 20 billion connected devices by the end of 2020. Now, since IoT is not the only serious technology on the run, accounting backbone, blockchain technology is capable to fix one big problem of IoT, i.e. security infrastructure.

In addition to the security fix, IoT can now expand its capabilities, that is ensuring a reliable and fast connection. Means, that in so many ways, Blockchain and IoT are a perfect pair. Blockchain’s inevitable decentralized network and embedded smart contracts are the significant solutions for IoT security concerns. Let’s have a look at the benefits of convergence of IoT and Blockchain:

  1. Flexible and new jobs in organizations
  2. Real-time data analysis and aids
  3. Revised customer experience
  4. Intelligent machines with a capability of automating tasks
  5. Reduction of waste in the supply chain
  6. New jobs in flexible organizations

According to me, Blockchain and IoT will be the best of friends in the coming 5 years.

Streamlining business across borders:

To define Blockchain in terms of business; it is a facilitator of automated tracking of every single transaction. Having a potential of at least partially automating accounting and compliance, Blockchain has opened doors to a more transparent auditing, further connecting industries with new global customers, an aim every industry pledges for.

According to Fay Shong, who is the Oil & Gas Strategy Leader of EnY, quotes: “Blockchain has increasing relevance to the oil and gas industry as a mechanism to reduce operating cost. Even more relevant, however, is blockchain’s ability to transform the contracting process given its aptitude to provide a secure form of collaboration across multiple parties”

He continues to mention: “As the oil and gas industry increasingly leverages sensor technology across upstream and downstream assets, the ability for blockchain to store transactions and accounting data directly on these devices can compress process time by connecting assets directly to services contracts.”

Not only this, Blockchain, which was originally created to power cryptocurrencies, can also forge a system of a brand new foreign exchange which can reduce the additional costs involved in doing cross-border business.

Commerce and Government:

The whole framework of global commerce presents a clean opportunity for blockchain implementation. The blockchain is more convincing in this sector as it has a power to create a borderless network architecture, which can enable cross-border transactions instantly. The best part is that it can remove the now-necessary and tiring steps of several approvals. In short, the whole cost of trust that is now heavy on commerce industry can be dropped. Removal of middlemen, transaction fees of SWIFT and delays can materially diminish.

Moving towards the Governments, which are always charged with a host of duties and responsibilities can be now (finally) be discharged for the benefit of citizens. How? Blockchain can be used for safeguarding state and financial services, also assist in establishing unique identity management systems, enable safe document processing, and secure transmission of sensitive information. Since efficiency is the main problem Governments face, and painfully, all the potential progress is slowed down by bureaucratic red-tape, Blockchain can eliminate countless man hours and create a digital ledger of secured information which will be untouched and uncorrupted.

Threats: Blockchain

Dealing with the consistent Disruption:

Information is power and Blockchain has a huge potential to increase the amount of information available. New leaders will find a way to access this hidden information packed in forms of data and further analyze it, which will always be at a risky game. Since Blockchain disruptions are already happening, no denying in that; it cannot be entirely assured that it is secure and unhackable which means that the probability of a hack and data exploitation is undoubtedly high.

Since Blockchain is still fragile yet powerfully promising at this stage, industry leaders feel their current dominant positions as challenged. Coming to the most plausible part, Blockchain – a provider of an automation system built exclusively for reserving authenticity of businesses, is capable of making many career paths obsolete eventually creating new ones for the generations to come.

Chances of outside attacks are more than half:

Since Blockchain is so far theoretically enduring; meaning, the past records lying on the whole network is incorruptible, the chances of the whole network to increase in size is evidently high. However, not all Blockchain application needs to be established on a large scale network; this alone fact unlocks the probability of an outside attack by a good 51%. Speaking technically, a 51% attack is a situation where a group of nodes that controls a 51% hashing power of the entire Blockchain network; a simple code manipulation can ruin the whole network. The consequence of the same is a recipe for disaster.

Blockchain and Environmental regulation:

The whole Blockchain implementation requires several systems located at different places owing to its decentralized rule, this alone, contributes to the fact that a lot of electricity is required to power it. Since the whole Bitcoin network is already utilizing tons of energy, this burden will eventually become considerable and later debatable. A large-scale implementation of Blockchain will soon invite a lot of opposition from world leaders and that day won’t be far, where ugly politics gets woven in it.