Building A Better World 1 Block At A Time.
Transformational Networks, Inclusive Technology, Open Sourced Progress, Peer To Peer Markets, Generational Opportunity...What does it all mean?
ExplorinG The Blockchain
Let me guess...
You heard about bitcoin & cryptocurrency, then someone mentioned the word "blockchain" and out of sheer curiosity you "Googled" these terms and found yourself here. Case or not, I have no doubt this article will shed some light on blockchain technology, what cryptocurrencies are and much more. My hope is that this is a bit contagious, sending you off to share your new found knowledge with friends. After all, everyone needs to know how the blockchain can build a better world! Let's dive right in...
The Bitcoin Or The Blockchain - Which Came First?
In 2009 a person or group referred to as Satoshi Nakamoto wrote the cryptocurrency, bitcoin, into existence by creating an open source code which allowed digital information to be shared & recorded in blocks but not copied. This technology is the blockchain. Initially everyone was looking at Bitcoin & the blockchain as one but it was quickly discovered that the blockchain bitcoin was built on could be separated and for a multitude of additional purposes which we will explore later.
To explore 5 major innovations in the blockchain since 2009 click here.
2 Bits That Make The Blockchain Beautiful:
- 100% Cyber Security Score. The blockchain is secure and has never been hacked.
- The blockchain is decentralized. Providing peer to peer business transactions without the need of intermediaries like banks, lawyers, brokers, agents etc.
For ex: You agree to purchase a car from a friend or even a car lot, you pay for it with cryptocurrency and the contract (complete transaction) is embedded in digital code and stored in transparent, shared databases, where it is protected from deletion, tampering, and revision. The purchase, title, payment etc. has a digital record and signature that can be identified, validated, stored, and shared. If you want to sell the car later, you simply link (chain) your initial transaction to the new one to track ownership, etc.
This is just one of 1000's of examples in how smart contract blockchain technology creates a better world. One with more trust, less fees & increased freedom. Imagine how this technology will revolutionize the closing costs on real estate purchases!!! How nice would it be to be able to access all of your medical records in one block. Sending money internationally is now the click of a button and NO BANKS are needed to do business anywhere in the world. If both parties have bitcoin - you're in business!
Ethereum is an example of another blockchain app. Developers created a decentralized public blockchain for smart contracts. The Ethereum smart contract platform would be used in the examples above.
When run on the blockchain a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met. Because they are on the blockchain, they run exactly as programmed without any possibility of censorship, downtime, fraud or third party interference and no human error.
Blockchain & Humanity?
I feel the need to be clear that I'm pro human and believe that the blockchain is too. As technology advances and we get closer and closer to AI running us (The Matrix), blockchain technology allows US to write processes and rules into AI programs that are on decentralized systems instead of one "central nervous system" that can be hacked into and altered. This is precisely why the blockchain has never been hacked. Every block is shared across 10's of thousands of devices. It would take hacking into every device and altering the info on that block in every single device. On a centralized system it's just the opposite. You hack into one device and it changes all info across the network.
I think that blockchain will provide generational opportunities to those of us who are early adopters. Opportunities to invest in cryptocurrencies, future blockchain technologies, and further education and supportive products/services for this emerging age. We are literally exiting the industrial age and entering an whole new era! How will you get involved?
Investing in cryptocurrency? ICO's? Product development? Services? Who's going to create the next Google or Facebook of the blockchain? As of the publishing of this article, there are over 700 cryptocurrencies traded on numerous world exchanges. The best site I've found to start researching and follow their values etc. is Coin Market Cap.
We further explore cryptocurrencies, how to invest in them and safely store them in our free Cryptocurrency Cash Course which you can access at the bottom of this page.
I've watched every blockchain video I can find and no one does a better job of truly encompassing the brilliance of blockchain technology like Manuel Stagar's Blockchain and Us documentary. Grab a cold one and enjoy every minute.
Isn't that the best and most inspiring documentary. The people interviewed really have a passion for creating a better world and truly believe the blockchain is an instrumental piece in doing so! Remember when you wondered what the internet was and why anyone would want to use email? Well, I still don't understand how I can sit here and type this article, push publish and anyone anywhere in the world can read it 24/7/365 as long as they have an internet connection but it works. The point is, even those who created the blockchain do not fully understand it's capabilities. Don't let the fear of the unknown cloud your opportunity to take part in this awesome, exciting, & crazy blockchain journey!
Blockchain Billions/Trillions: Here To Stay.
- 2009-2016: It took seven years for the value of all cryptocurrency to hit $10 billion
- 2016-2017: another year to hit $20 billion and
- Jan 2020: Global cryptocurrency market cap hit $1 Trillion.
If you just read that and think it's too late, that you missed the boat...then you really missed the message. The future of cryptocurrency is a crazy roller coaster ride but, just like the blockchain, cryptocurrency is here to stay & grow, grow, grow! Some predict Bitcoin to be $5000 by the end of 2017, others say $13,000. No matter what, it's NOT TOO LATE and Bitcoin is just one of many cryptocurrencies.
Understanding The Blockchain, Bitcoin & Cryptocurrency
I know how it feels to be a newbie, trying to understand all of the new terms, let alone how to setup a wallet, how to buy cryptocurrency, then securely store it & the frustrations of fumbling through without guidance. That's why we created the FREE Cryptocurrency 101 Course
Curious About Crypto?
Clear up the confusion with our Cryptocurrency 101 course.
A Bit Informed...
No doubt you still have questions and that's great! Keep asking questions. Continue down the blockchain rabbit hole and be curious about it all. If you found this somewhat informative and helpful, please share by clicking on of the social links below & look forward to more Freedom Fork conversations on the blockchain, cryptocurrency & #decentralives!