I refer to it as the “silent giant” which has the potential to replace the internet as we speak.
It is based on a peer to peer network were distribution of data is encrypted, recorded and can not be manipulated i.e “incorruptible”… so far.
Here is an introductory view to how Blockchain Technology works.
In the last 100 years our international economical system was vulnerable to corruption on different scales be it Panama Papers to the latest epic showdown the Facebook / Cambridge Analytica cocktail party at Trumps backyard followed by Brexit.
Hence sometimes I wonder why Elon Musk’s statement about A.I being in the wrong hands rings a bell.
Though the beauty of all this madness is the fact that we are being exposed.
So this might possibly be the last days of such acts, because a new order is being implemented where also governments and various states are highly in favour to do.
I am proud to mention that Malta (Europe) is one of those early countries adapting blockchain within the economical structure.
The New Challange To The Current System
Decentralised ledger Technology can practically impact the economy by reducing human/machine error and increase transparency.
Hence it can potentially drive more efficiency within our ergonomics.
So the fact that you will be able to simply make a digital transaction with no intermediaries or limitations, literally changes the financial aesthetics. This change will also impact voting systems, buying or selling stocks and practically anything of value.
So technology is closing the gap to accommodate and improve our way of living, giving us more control individually but structured in a systematic (chain) order. This is what makes Blockchain potentially greater than the internet because it literally shifts the whole framework and embodies a revolutionary phase.
So technically future apps, commerce, government systems etc will be obliged to develop blockchain technology. It is becoming the world’s most reliable tool to effectively manage financial assets, documents and contracts in general.
Have a look at the current Top 10 Blockchain Platforms for ICO’s in 2018.
Friends, we are living in a very interesting space which brings disruption and opportunity through it’s complexity. This is just the beginning.
Question of the day:
Which are you mostly concerned about – Privacy or Time?
Read more about the Distributed Leedger Technology.