HISTORIES OF ENTREPRENEURSHIP - THE BLOCKCHAIN

Can you imagine that there was a system in which internet be allowed to exchange information securely without there being a large company by possessing your data ?, Believe it or not this tool exists and is called BLOCKCHAIN.

If you're one of those people who has joined the fever of bitcoins, and by now know very well what is the blockchain and each of the transactions of these coins is based on this system, but for those who still do not blockchain have used, you should know that it was his creator who found a use of blockchain and popularized a few years ago.

As you already know Bitcoin was one of the virtual currencies that appeared in 2009 from the hand of Satochi Nakamoto, it is not known who is behind this phenomenon since it is believed that this is just an Alias.

The fact is that this currency fluctuates in price and is governed by the law of supply and demand, which allows buyers to speculate and earn real money by buying and selling Bitcoin. But to make all these exchanges of money without a company taking over the business, it was necessary to find a technology that would allow Internet users to make transactions without intermediaries, this is the reason why they chose the BLOCKCHAIN ​​for it.

But although the bitcoins along with the blockchain system are revolutionizing the internet, what is really interesting and the purpose of this video is to talk about the wide range of possibilities, but why such a stir? Why is the blockchain on everyone's lips lately?

The main peculiarity of the BLOCKCHAIN, is that it is a decentralized network and that is precisely where the magic is. We are so used to using centralized networks that for us it is practically inconceivable to exchange information on the Internet, without this data passing through the central systems of a large company, which could theoretically sell, delete or even exchange this information at will.

From social networks like Facebook, Twiter or instagran, to e-commerce portals like eBay or Amazon, all of them use centralized networks to exchange information, or did you think that when you send a WhatsApp message the recipient receives it directly? since this information passes first through a central office and then it is delivered to the recipient.

Recent scandals such as the Cambridge Analitics and Facebook or several data leaks in several payment platforms such as PayPal, calls into question the security of this type of networks and the urgent need for a solution, but would it be possible to carry out all these operations? over the Internet without anyone being able to see, hack or modify this data? The answer lies in the sophisticated, complex and at the same time simple blockchain mechanism.

To better understand the purpose of the blockchain, we will take as an example a book of accounts, when we make a transfer or a cash payment, various data will be noted: The emissary (who sends the money), The recipient (who receives it), the amount to transfer and a signature that in the case of BLOCKCHAIN ​​is electronic. All this information is stored in one of these blocks that forms the chain and passes from node to node until it reaches its recipient; These nodes are no more than any device with computing and storage capacity: A computer, a Tablet, Smartphone, etc. But unlike centralized networks, there is no central node that receives all the information, this makes it practically impossible for the system to fall, since all the nodes would have to fall simultaneously, in addition each node saves a backup of the chain that is why it is so difficult to modify a block since we could check the information quickly in another node.

If we eliminate one of these blocks we would be breaking the chain, which would be easily detectable, on the other hand this information although it has a unique verification code, it travels encrypted and can only be seen by the emissary and the recipient, as you will see the entire mechanism of the Blockchain this millimeter is designed to avoid data manipulation.

If there has been or will be a time to bet on the blockchain as the basis for our business idea, it is precisely now,

Although some Startups already use this technology, there is still a world of possibilities to exploit in the business world.

Although the blockchain has existed for several years now, it is precisely in the last year that its potential has become incredibly relevant in the business world. The fact that this exchange of information is so secure provides a universe of options.

Some banks such as Barclays have realized the numerous benefits of using decentralized networks for their transactions, and are already starting to use Blockchain technology in their systems.

But not only serves to move money since in fact one of the most potential fields is the Internet of things, which although it is not an area currently too developed, promises great things in the future. Everything indicates that in a few years our electronic devices will be able to communicate with each other.

Imagine that your refrigerator detected when your orange juice was finished, and automatically made the order to the store, the blockchain networks would be able to do this without a large corporation was involved to sniff the brands you consume, information that By the way, it would be very valuable.

Another of the industries that the blockchain could revolutionize is the electronic commerce, thanks to this type of networks, Internet users could buy and sell among us or even retailers, without the need for portals such as Amazon or eBay to take their commission or have to provide our payment information or our address, in fact there is already a decentralized network to make purchases called open bazaar.

In the field of charity and donations from virtually its creation, numerous scandals and controversies, we are never sure where our money goes when we donate to an NGO, with the blockchain this could change completely and we could know exactly what our donation.

Something similar happens with the electoral campaigns and the votes in several parts of the world. There have been several rumors about electoral fraud, digitizing the whole process and using decentralized networks it would be practically impossible to eliminate a vote or modify it, some companies that are dedicated to offering botos systems More just and democratic governments are: democracy.eart and follow my vote.

In fact any industry that handles data can benefit from the benefits of using a decentralized network, so as you can see the possibilities for the blockchain are endless.

It is estimated that these types of systems are the future of society and it is believed that in a few years all Internet services will work with decentralized networks and centralized networks will lose their power, due to their lack of security but also as happened with the Internet revolution in the 90s or with social networks more recently, the blockchain will not only improve the efficiency of existing services, but it will be the cause of birth of a whole new industry followed by markets and professionals, which like all development will help the evolution of the world and its societies.