How blockchain can save the world?
The blockchain and the cryptocurrency revolution started in 2009 when the man or group of programmers called Satohsi Nakamoto create the bitcon.
That time knowbody belived that this event can chagne the monetary rules around the globe. From that times since then it has passed almost ten years and this revolution goes to mainstream.
First time from many ages money come back to peopole and and banks are slowly losing their leadership position in creating money.
The cryptocurrency are created in blockchain technology which write the new cheapter in the history.
Most of peopole say that is the next revolution after the Internet
Let's talk a little bit about the blockchain.
Blockchain technology is cryptograhpic protocole that help to save many information which are connected eatch other. That solution protect all the information which are saved there againt hackers attack.
How does it work in practise?
If anybody want do get the information which are located in the blockchain should get access to the all of comupters which are connected eatch other in the same time. So for example when we have few milion computer around the globe
Somebody have to get access to all of them.
Nowadays is absolutely immposible.
Maybe in the few years when peopole will be use quantum compuers that can be possible.
So now we can say that the blochcain technology is the safest, the fastest and the most efficent method of storing the information.
Let's see the potencial of blockchain technology in a few aspects.
SAFTY
Today everybody want to protect their private information in the most
efficient way.
They try to invent more and more difficult passwords to protect their bank accounts, social media platforms and other platforms.
What if you can protect your account with passwords that anybody can break.
It comes with help the blockchain technology.
Why?
Because everyboy have private key which consists with few word. You always have to remember it because if you lose, you lose access to the information stored.
But on the other side if anybody get your private key, they can't break your password. So it's very important to hide and save your privte key.
FAST
The next aspect of blokchain technology is speed of action. We can send information and value faster the in the traditional way. For example simple bank transfer continues at least 1-3 days.
In that case the transfer of money takes only few minutes or seconds and the procedures are easier then in traditional way. Only what we need to transfer information or value is public key which is create
for every user of thee blockchain system.
Moreover when we transfer information or value we can observe the transation status.
All transations in the blockchain must have few confirmations to reach the recipient.
Everything takes as I say only few minutes or second
POVERTY
Additional ascpect of developing the blochcain technology is fight against the poverty.
Why?
Because every country who want to develope their economy must focus on the development of the new technology. The countries which are "friendly"for new technology can get extra tax cash.
Also that countries should prepere appropriate law regulations. Than most of the fin-tech companies want to set up bussines in that country. That solution help poor coutries go to the next level of develpoment.
PRIVATE TOKENS
The next cheapter in development of blockchain technology is private token. That means that every field have own crypptocurrency to pay each other for their products and services. It's called ICO- initial coin offering.
Maybe in the few years every person in the globe have their own token to pay barter system for every product or service. Time will tell. Now we can see that there is more and more company that prepare their own tokens
and earn real cash to finance their investments. Insted of people recive tokens which are some kind of shares in a project. Moreover the people can earn divided from the completed projects.
I would like to know what do you think about the development of the blockchain technology.
What aspect of life it can change?
Write your comment below and in the next posts.