'Blockchain': the technology that will change your life

'Blockchain': the technology that will change your life

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If you live on planet Earth, is very likely that heard of blockchain, and currency that is the basis, the bitcoin. And it is likely that when you hear or read the word you've spent long, probably because it was too lazy to you try to understand it. But we believe that you should know that this tool is going to change life.

Blockchain, say experts, will make it possible to make the leap from the so-called internet of information to the internet's value. During the past 23 years we have lived with the first, an ecosystem that has penetrated to the depths of our day to day and that has made companies like Google, Facebook, or Twitter to flourish. These names have changed business models of entire media, telecommunications and tourism industries.

Internet information is called because so far what has been shared has been fundamentally information. Now, we are making the leap towards the value internet. "And this wave is much larger than the first, Not be ruled out that companies disrupting such as Amazon or eBay will be disrumpidas at the same time, statement.

Brake for this jump had been to manage transactions. And here you can help technology, the basis of virtual currencies like bitcoin, a tool that allows a total decentralization. Any system in which there is some kind of sharing is subject that a technology as blockchain can be applied, If this technology is to be effectively adopted by most of the industry, by the entire industry, then yes it is true that it can have the potential to really reshape how business models; not only banks, but the world in general.

The era of decentralization in internet

Internet crosses, like everything in life, by cycles. Now we are entering one decentralization, this means that there will be many more operators and that power will not be as centralized. That changes the operation of enterprises, but also the operational people, how we interact with us. And this is really fascinating, try to imagine how will be the future in 20, 30 or 40 years and blockchain will be one of the principal agents of this change.

In origin, this tool it was intended as an alternative to the money. Not in vain is the platform on which runs the famous cryptocurrency bitcoin, founded in 2009 by the unknown entity Satoshi Nakamoto. For this reason it has been banking, as it was expected, the first 'affected'. Consulted spokesmen say that the string of blocks is one opportunity rather than a risk.

Right now we are working with the application of this technology on the basic infrastructure, improving the Rails on which moves the industry, The first large outbreak is the payments, although the thing will be more. We are starting to explore other cases such as capital markets, investment banking, trade finance, most wholesale businesses that will have fewer implications in the short term.

But blockchain is much more than a alternative to money It is an infrastructure that allows you to build on internet, and create another layer on which people will be able to exchange between them. That affects all sectors: he already played to banking, but it will also affect the energy sector, to telecommunications, to the value chain of logistics, etc. if to blockchain you get artificial intelligence, big data, and drones can completely reinvent the insurance industry.

Test of effort and game theory

Decentralization is based on the so-called stress test (proof of work). We enter into land something technical: to have a technology as blockchain, needed miners, who are those who calculate blocks, i.e., try to find a hash (a mathematical algorithm), mark the block and add it to the blockchain. These calculations require much energy. Here comes, moreover, game theory: how many more miners is calculating, more complicated is that these time agreed to cheating. In fact, none has made traps so far.

What is important is to start testing work, try, launch projects, because if not, when you try to get to the height you passed the wave. Changes that can bring the chain of blocks will not occur tomorrow. This transformation will not be very noticeable in the State in which we are now.

Although in a future if we will be able to reach platforms that allow to create financial services that can change the way in which clients consume products