Blockchain is the Next Revolution Since the Introduction of the Internet!
Blockchain is a revolution that will completely change the economy. It's about much more than just digital currencies.
Blockchain is a decentralized digital ledger that records transactions across a network of computers. It uses cryptography to ensure that transactions are secure and verifiable. Each block in the chain contains a record of multiple transactions, and once a block is added to the chain, the information it contains cannot be changed. This makes blockchain technology very resistant to manipulation and fraud. It is the underlying technology behind cryptocurrencies like Bitcoin and Ethereum, but it has many other potential applications, such as in supply chain management and voting systems.
Remember
- You don't store coins, the blockchain does.
- You don't transfer coins. You perform updates in a public database.
- The coins always remain at their original location.
- You don't own a cryptocurrency wallet, but a digital keychain.
- Each address was created and published through individual effort.
- Each update was created and published through individual effort.
- In fact, coins are numerical values that people attach special meaning to, similar to literary characters.
- If the value were in your wallet, it would double if you copied your wallet. However, this doesn't happen.
- If the value were in the blockchain, it would double if the blockchain were copied. However, this doesn't happen.
- The value is based on community consensus, is subjective and volatile, yet measured in billions.
What Can Blockchain Technology Do? Some Examples
Transactions
Send money directly, with minimal fees and in just seconds, from person A to person B - even to people without a bank account!
Voting
No going to the polls, no manual counting, no manipulation possible, no recounting.
Leasing
Payments not made? Vehicle is blocked.
Energy Contracts
Buy electricity from your neighbor or sell it to them? You no longer need a power company for that!
Music & Film Rights
A composer puts their work on the blockchain and is automatically and irrevocably the creator of their work.
Transaction ID, sender, recipient and timestamp are stored in the blockchain - no more spam possible.