What is Blockchain? Easy To Understand Explanation.

Still having a hard time understanding blockchain? Well have a seat, its story time, and feel free to tell this story to others and spread the simplicity of it.
You and Johnny are sitting on a bench and Johnny has a piece of candy. You ask Johnny if you can have that piece of candy and he hands it to you and says okay. You and Johnny have now just made a physical exchange. You know what happened, he knows what happened, you don't need a third party to tell you Johnnys candy is now yours. The physical asset backs up the transaction, kind of like gold was meant to do to the dollar. Gold was hard to carry around so the dollar bill and coins were created in place of it. There was intended to be as much gold as there was in currency. We all should be aware enough by now to understand that is no longer the case. It has caused financial problems and debt snowballing.
So we went from gold, to paper, and then we needed a safe place to put that money so therefore we put it into banks. What other choice did we have but under a mattress. Just like the candy trade mentioned above, if Johnny was in Australia now and you were in America and he calls and asks for a $50 loan so he can buy some more candy, if you wanted to send Johnny that money you would have to do so through the bank. You wouldnt have a physical item such as the candy, so you would have the bank verify that it was all legit, but that transaction was going to cost you quite a bit due to the bank fees and currency exchange. Simply, that $50 would not be $50 when it got to Johnny much, much later.
So now me and you are sitting on bench, and after all this I know how much you like candy. I say, "Ive got this new really cool digital candy, would you like me to send it to you?" Excited you tell me how much you would love that candy and I send it to you right away. We have just made an exchange but it was not physical. The problem with digitalizing currency this whole time is how do you know this is really your candy now? Maybe I made a couple copies on my computer before hand. Maybe I put it on a steemit blog and let a million people copy it. That is why it was decided that there needed to be a ledger, like a book that counts all transactions.
Now that there is a ledger who is to be in charge of it? If we chose one person or even a group of people there is a chance of manipulation in the future. What if they created more digital candies. What if they created more just for themselves? What if they said they were digital candies but they really ate them all? The solution is giving this ledger to EVERYONE.
You cant cheat it, I cant send you more candies then I actually have, or it wouldn't sync up with everyone else in the system. Not only have we eliminated the middle man and his fees, but also inflation, laundering, etc. etc.
We can now deal with 1,000 candies, or 1 million candies, or even .0000001 candies. I can send it with a click of a button, and I can still drop it in your digital pocket if I was in Nicaragua and you were all the way in New York.
Now that you can grasp a little better what is going on here, think of the possibilities when we as people of the world take our power back, take our money back, and adopt a system that can not be manipulated by a 1%. See why they are shaking in their boots and trying to make crypto a nasty thing?
Blockchain is coming, there is no stopping it, and it is up to me and you to push this through. A new world, a new age is right around the corner and if you are paying attention you can profit big off of this blockchain technology. Good luck to you all!

Sort:  

Congratulations @cryptoisforgirls! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

Click here to view your Board

Do not miss the last post from @steemitboard:

Valentine challenge - Love is in the air!

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @cryptoisforgirls! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Do not miss the last post from @steemitboard:

Valentine's day challenge - Give a badge to your beloved!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.20
TRX 0.13
JST 0.029
BTC 67130.22
ETH 3466.74
USDT 1.00
SBD 2.73