Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World - Deepstash

Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World

has the potential to go far beyond currency, to record virtually everything of value to humankind, from birth and death certifi­cates to insurance claims, land titles, and even votes. Blockchain is also essential to understand if you’re an artist who wants to make a living off your art, a consumer who wants to know where that hamburger meat came from, an immigrant who’s tired of paying big fees to send money home to your loved ones, or an entrepreneur looking for a new platform to build a business.

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MORE IDEAS FROM Essential Books on Cryptocurrency and Blockchain to Read

While the world is transfixed by Bitcoin mania, your competitors are tuning out the noise and making strategic bets on the blockchain. Your rivals are effortlessly tracking every last link in their supply chains. “Blockchain: The Insights You Need from Harvard Business Review” brings you today’s most essential thinking on the blockchain, explains how to get the right initiatives started at your company, and prepares you to seize the opportunity of the coming blockchain wave.

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.. aims to provide an accessible guide to this new currency and the revolutionary technology that powers it. Italso answers how payments are made and how transactions are kept secure. Other cryptocurrencies and cryptocurrency pricing are examined, answering how one puts a value on cryptocurrencies and digital tokens. Blockchain technology underlies all cryptocurrencies and cryptocurrency transactions. But what exactly is a blockchain, how does it work, and why is it important?

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Raises the question: Why should anyone care about Bitcoin? In The Age of Cryptocurrency , Wall Street journalists Paul Vigna and Michael J. Casey deliver the definitive answer to this question.

Cybermoney is poised to launch a revolution, one that could reinvent traditional financial and social structures while bringing the world’s billions of “unbanked” individuals into a new global economy. Cryptocurrency holds the promise of a financial system without a middleman, one owned by the people who use it and one safeguarded from the devastation of a 2008-type crash.

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Like the currency he created, the identity of Bitcoin’s creator Satoshi Nakamoto is virtual, existing only online. The Nakamoto persona, which may represent an individual or a group, exists only in the online publications that introduced and explained Bitcoin during its earliest days. The Book of Satoshi provides a convenient way to parse through what Bitcoin’s creator wrote over the two years that constituted his “public life” before he disappeared from the Internet, at least under the name Satoshi Nakamoto.

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RELATED IDEA

What is Bitcoin (BTC)?

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched in January 2009.

Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created to allow “online payments to be sent directly from one party to another without going through a financial institution.”

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Supply

The supply of bitcoins in the world is capped at 21 million and, currently, about 18.7 million have been mined. The production of new coins is slowed every four years or so, with the number of coins minted upon completion of a block cut in half each time.

The limited supply is one of the things that makes Bitcoin attractive to many people. Decentralization means it is unlikely that any one person or group could gain control of the ledgers or enough of the currency to manipulate its value.

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1. The total amount of bitcoin is limited:

That’s right. If you thought it would be possible to buy an endless amount of crypto, think again. Cryptocurrency is a limited resource, like gold or oil. This is why currencies like bitcoin continue to increase in value as the supply goes down. Investors know that somewhere down the road, the number of bitcoins and alt currencies available will come to an end.

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