The year 2020 was fascinating! The world experienced its first pandemic in 100 years, global economic tensions increased, and the fourth industrial revolution is quickly accelerating.
As with many folks, my life changed suddenly over the course of the year. These unusual circumstances promoted peculiar opportunities, so I decided to explore what a blockchain is..
Here is what I learned:
Blockchains are massive networks of computers that process information accurately, safely, and efficiently using cryptography. Every block formed on the chain of information (blockchain) is created and generated by a trusted internet of computers that are automated with secure algorithms(cryptography). These systems allow user information to be safely transparent, and offer complete user anonymity.
With the trusted security of blockchains, some crypto networks have begun toiling with creating hybrid-namelessness structures of governance. Not only do blockchains offer a new way to analyze economics (cryptocurrencies), but they also offer a way to connect with the world in profound ways. Blockchains offer power of accessibility to the general population, which furthermore bids trusted data into making knowledgeable life choices. It is the type of technology that allows for a more transparent life– which has begun creating new practical ways of connecting tangible info into the secure blocks every day.
There are several crypto platforms creating real, genuine tokens with practical life applications. Many enterprises will be looking to adapt the most effective and efficient technology that will give them the leading competitive edge...
Factories that are looking to get involved in the 5g race may consider observing cryptocurrency as forms of expense. If robots can establish cloud-based communications, why not have them accept quick, safe, and secure digital payments as well? Doubling down as customer service agents and assembly line workers; smart robotics can create lower labor costs. Other businesses are focusing efforts on tracking supply chain movements. Imagine being able to know exactly where all your products come from— blockchain technology could make that possible! Since every transaction is transparent, it allows the possibility of “tracking” the product from its origin. Goods like food or clothes, and objects such as: furniture, electronics, coffee, bicycles, books, and everything else can all be traced with a swift QR scan. Talk about supporting your favorite businesses!
Cryptocurrency is in its early stages. Cyberspace is a comparatively new technology as well. The first smart phones became accessible about the same time as the first bitcoins– for perspective.
As a network whole, the economics and governance are only recently being tried and tested. Numerous crypto coins offer greater yield returns at rates, that on no occasion, occur in central banking systems. When I started witnessing the functionality of cryptocurrency in comparison to fiat; I discovered considerably more economic liberations and freedoms. With cryptos, I am my own bank. I get to choose where I hold my money, and where to earn rewards. I can also cast votes on upcoming community-based integrations— helping guide the forthcoming functionalities for some of these platforms.
At first, I was overwhelmed when I began researching blockchains. I thought Bitcoin in particular was some useless digital coin that would sit on my computer. I soon learned that blockchains were highly secure, and fully capable of storing a lot of useful information. Learning the structure of blockchains allowed me to understand the value of cryptocurrencies and why they pique interest.
As mentioned in another article, I am a crypto-enthusiast; but beyond financial liberations, blockchains are quite capable of promoting great amounts of honesty and integrity into everyday living. New lifestyles are becoming possible every day as blockchains begin implementing more practical opportunities for globalization and decentralization– how revolutionary!
I believe that the internet (and now blockchains) are capable of connecting humanity in ways that have never before been possible. Not many of todays humans have experienced a pandemic. At no time has humankind had a physical way to make payments with the access of internet without government currency, or other forms of currencies.
With the potential to have a global peer-to-peer currency, I see great value to invest early. As with anything, how each individual responds in a revolution has significant impact. Being at the dawn of an evolution has created a world of new opportunities
“When we wanted to create a better candle; we invented the lightbulb– not a bigger and stronger candle.
When we wanted to create better money; we didn’t make a greener dollar–we invented Bitcoin.
For people who used candles their entire life, it is hard to look at the first light bulbs and see the future.”
-Alex Mashinsky
