Bogdanoff brothers

There Are Many Practical Blockchain Applications

By Allen Taylor | Cryptocracy | 6 Jan 2022


When primitive man wanted to travel from Argos to the banks of the Yellow River, he invented a circular object and called it a wheel. In those days, traveling farther and faster meant more cash in the war treasure and greater leverage for trade. The invention proved to be a huge advancement for civilization. 

Throughout history, enterprising individuals have identified problems and addressed them with creative solutions. This has often led to future innovations and improvements.

In the 1440s, an enterprising German named Johann Gutenberg ushered in the age of mass communications with advancements in printing. That led to the publication of daily newspapers, monthly magazines, and countless books. Many of the font types that have been developed since then are now used in web publishing.

New technologies often solve more than one problem. Sometimes they address challenges people weren’t aware they had. That might be the case with decentralized social media.

Blockchain developers make bold promises. One of those is that blockchains and distributed ledgers can and will return the internet to its decentralized roots. Another is that the technology will provide a greater sense of security for anyone sharing personal data on the web. Just as important, the persons to whom that data belongs can have more control over how it is shared and profit from it, as opposed to third parties selling it for a profit and not sharing that profit with anyone else. These benefits are wrapped up in the nature of the technology itself, but are they what web citizens want? If so, does the average internet user know they want these benefits?

Crypto enthusiasts don’t need to be sold. The rest of the world might. If you’ve wondered what the fuss over bitcoin and cryptocurrencies is all about, or you’re at least a little bit concerned about the power that rests in the hands of a few at the top of the social media pyramid, then keep reading to learn how a new emerging technology could solve some of the biggest problems facing the planet at the beginning of the third millennium.

An excerpt from Cryptosocial: How Cryptocurrencies Are Changing Social Media.

Do you know someone who is interested in cryptocurrencies but doesn’t know where to start. Introduce them to Cryptocracy. I’ll cover the basics for beginners in the coming weeks as I share more excerpts from my forthcoming book to be published by Business Expert Press.

Today’s Must-Reads in Crypto

Legend has it that Grichka and Igor Bogdanoff could make a phone call and change world markets at the sound of a dial tone. True or not, one of the twins—Grichka—will no longer be able to change anything. He has died from COVID complications. Long live his memory.

Bogdanoff

Market caps don’t tell the entire story of cryptocurrency value, but they are important in terms of understanding how is in circulation at any given time. You’ll want to check out how the top 10 crypto rankings changed over the past year.

We all have our dating nightmares. One man’s dating horror story involves something that’s come to be called the Pig Butchering Scam. His newfound love interest talked him into investing in cryptocurrency on a mobile app. He did. Then, when he went to withdraw, the app told him he had to repay his loan before he could withdraw more of his own crypto. He lost his life savings, and his dignity.

Image credit: Memepedia

This post is not financial advice. First published at Cryptocracy.

 

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Allen Taylor
Allen Taylor

Writer, editor, publisher. Content strategist for fintech, blockchain, and crypto firms.


Cryptocracy
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