“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
The year 2020 has been fascinating. The world is experiencing its first pandemic in 100 years. There is also global economic stresses, and, it appears the fourth industrial revolution is quickly accelerating.
As with many folks, my life changed suddenly over the course of this 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.
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!
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!