BLOCKCHAIN REVOLUTION

Hi Fellow Steemians,

I think that we have entered into Second Era with Internet. As we know that the first was the Internet of Information, and the new one with blockchain we are entering the Internet of Value.

How do we find the important opportunities and how do we expect and harness these seismic switches?
From past two decades we had the Internet of information: a platform for everyone to upload and distribute information. Though it is transformed how we communicate, its impact on our relationship, business, commerce and prosperity ended up being quite limited.

Why is this happened? Establishing identity and trust online still requires validation from a trusted third party like a bank, government, credit card company or big technology company. There are many drawbacks to relying heavily on intermediaries to secure our relationships.

For one, they are centralized globally, making them vulnerable to attack or failure. They add cost and friction to our economy for consumers and businesses alike.
They exclude nearly 2 billion people from the global financial system.

They capture vast amounts of data about citizens and organizations — which can undermine privacy, corrupt to a free society. Most troubling, power and prosperity are channeled to those who already have it.

The upshot is that there is wealth creation but declining prosperity and the largesse of the digital age is being captured asymmetrically.
Today we’re seeing the rise of the Internet of Value. At the core is the biggest innovation in computer science in a generation — the technology underlying the digital currency networks like Bitcoin and Ethereum and other coins — the blockchain.

This technology platform is open and programmable, leading to an explosion of innovation, including support from the technology sector, the Linux Foundation, the banking sector, global governments, and business leaders everywhere. Blockchain holds the potential to unleash countless new applications and as yet unrealized capabilities that have the potential to transform everything in the next 25 years.

Conclusion:
Broadly speaking, blockchain technology describes a distributed, highly secure platform, ledger or database where value – everything from money, stocks, bonds, intellectual property, and deeds, to music, art and even votes – can be stored and exchanged without powerful intermediaries. Trust and collective self-interest, hard-coded into this new native digital medium for value, ensures the safety, security and reliability of commerce online.

Trust is programmed into the technology, and is achieved not by big institutions but by cryptography, collaboration and clever code. Moreover, it is incredibly malleable to suit the many challenges of different industries and institutions. Public blockchains, such as Bitcoin and Ethereum, could open the doors to the worlds unbanked, whereas private blockchains (like those being trended by leaders on Wall Street) could remove hundreds of billions of dollars from financial infrastructure, making the industry faster, more efficient, more secure, and less risky.

Sources: https://www.blockchainresearchinstitute.org/about-1/

Follow me @johnanbarasan
UPVOTE Please.