How many of you have heard of, know of and/or understand “blockchain” technology? I would say maybe 1% of the population in the United States. It’s quickly growing, however. Why? Because of what it brings to the table.
Imagine if you could write a book and not have to go through the copyrighting process? Why would you want to avoid it? I mean, if you don’t copyright it how can you prove it’s yours? What if you could certify it’s yours simply by proving when it was first written. How do we prove a child belongs to a certain person? By DNA, right? Intellectual property has the same coding in the blockchain. Imagine how much money and time a person could save by being able to just upload music, manuscripts, art, etc. to the blockchain vs all the legal mumbo jumbo and side-stepping the large corporations that control the legalities of it all. And… the publishing would be instantaneous. What about medical records or other sensitive data? We’ve all heard how the VA has been hacked and hundreds of thousands of veteran’s personal data has been stolen. Me included. What if there was a system that was, in essence, un-hackable? That’s the blockchain.
We know that it truly does not take 3 to 4 days for a transaction to be completed online. Whether it’s a banking deposit, a wire transfer, whatever. I mean, its data meaning it’s instant. What takes the longest is the verification of the process. That could all be alleviated. I truly believe that what Satoshi Nakamoto created will change history. He created the blockchain and the most well-known asset called Bitcoin. Since this creation he has enabled thousands of people around the world to exercise their brains and create new possibilities using the blockchain for endless ways to secure, share and store data. We all know that everything we do using our fingertips on a keyboard to tapping a screen is all data. I got involved in the crypto currency asset in early 2017. After months of talking with some friends who’d been in it for years, I finally pulled the trigger. Mainly due to the curiosity of it. It’s absolutely fascinating for us nerdy types. If you stand back and think about the possibilities, it’s truly amazing. Look at all the ICO’s (Initial Coin Offering) that pop up all the time. People creating a “token” in hopes of becoming a viable “coin” through “crowdfunding” in hopes of eventually coming to fruition and being a sustainable business. Much like an IPO (Initial Public Offering) on the stock market. One ICO token I bought into 2 years ago is called SkyChain. If you read the “white paper” it’s pretty cool what they have planned to do in the medical community, and I think it could actually be a serious game changer in the world of medicine and emergency treatment.
I’ll keep this one short and wrap it up. Below is a very good Ted Talk video explaining the block chain and its many uses. I found this video to be very informational in relation to this technology.
I’d like to here some of your opinions on the development and future of the blockchain in regard to possible uses. Please Like, Share and Subscribe!!!! Thanks for reading!