Just about a year ago terms like “blockchain,” “Bitcoin” and “cryptocurrency” would have at best garnered a raised eyebrow signifying wariness or plain ignorance. Today, however, the situation has changed, if not drastically. We often get dragged, happily, into discussions on things like the “Next Big ICO,” mining (not metal ore, of course!) and smart contracts. And yet only a few million people around the world truly know about what blockchain technology is and how it is poised to revolutionize the financial markets around the globe. This is a mere handful as compared to the 7.5 billion people who currently live on this planet.
Cryptocurrencies (Bitcoin, anyone?) are based on blockchain technology. While we won’t go into details of what this technology is, we must emphasize that cryptocurrencies are its finest offspring. If there was anything truly democratic in this world, cryptocurrencies are those. Consider this – nobody manufactures them, nobody controls them and yet they hold the power to perform financial transactions in an open and safe environment.
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