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Blockchain: The Engine Of The New World
Many of us have heard of cryptocurrencies (like Bitcoin), which have exploded in value in the last ten years. The underlying technology, blockchain, is the heart of crypto and many other new digital applications and ecosystems.
Blockchain is a digital archive or registry, which can be private or public. It relies on a digital network of computers, or ‘nodes’ to verify details of the information, such as the authenticity of a transaction in the case of cryptos. This means it allows transfer of information or goods that don't have to rely on a 3rd party (like a bank, government etc ...)
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Blockchain Isn’t Just Crypto
Blockchain technology is fundamentally bigger than crypto or even the internet as we know it.
It offers radical transparency, zero run-time and breakthrough tech innovations to revolutionize many areas of life such as finance, insurance, transportation, personal identification, healthcare etc.
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Blockchain: From Energy To Banking
- Steve Wozniak (of Apple fame) is using blockchain to power its new company which aims to increase energy efficiency.
- Mining of coins, a process that produces cryptocurrency is also being handled by blockchain technology.
- Many startups are finding myriad uses of this new technology, like handling secure banking transactions, distribution of energy, streaming and many other unique applications.
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Three Reason Blockchain Will Rule
- Transparency: The blockchain tech is transparent, as shown in the way it handles cryptocurrencies. Each transaction has a unique identifier, which ensures easy tracking and supply chain integrity.
- Speed: Transactions are implemented at lightning fast speeds, with reduced latency. This is a sharp contrast from slow bank transactions and central servers that are unreliable and cumbersome.
- Cost-Effectiveness: Due to the entire technology being digital, blockchain makes validation, verification and data-security a cost-effective process.
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IDEAS CURATED BY
Valerie 's ideas are part of this journey:
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