Blockchain - Ushering the Internet of Value
Blockchain - Ushering the 'Internet of Value'
The technology that is going to revolutionise the world as we know it, has arrived. And its not Robotics, its not even Big Data or AI. Its actually what we all know as the Blockchain. The blockchain revolution is sweeping the world.
The first generation of digital revolution brought us the internet of information. The second geberation powered by the blockchain is going to usher in the internet of value. These are famous words of the celebrated author of the bestselling book "Wikinomics", Don Tapscott.
What is the Blockchain
It is simply a protocol that allows transactions to be anonymous and secure by maintaining a public ledger. It is the technology that drives bitcoin and most cryptocurrencies. The underlying framework has thr potential to go far beyond these and record virtually everything of value, from birth and death certificates to insurance claims and even votes.
Why should we care, you might ask. Because in the near future, everything is going to be potentially driven by the blockchain. Most industries will have Blockchain as their main underlying framework. Maybe you are an artist or a music lover who wants to make a living through their art form. Or perhaps an immigrant like me, who is sick of paying huge fees for their education, just to maintain legal status or who wants to send money home, this technology is going to touch the lives of everyone.
And these examples are only the tip of the iceberg, really. This tech is public, encrypted and readily available for anyone to use. Its already seeing widespread adoption in a number of areas, most notably banking.
This is a huge paradigm shift, thats underway with the unraveling of this revolutionary technology and we are going to witness huge disruptions in many industries.
'a huge paradigm shift' indeed. We cannot think of all the possibilities because this was never invented before. The 'Internet of Money'.
Decentralized apps and decentralized storage will bring on the true meaning of Cloud computing, only possible because of Blockchain.
Many people are looking at blockchain simply as a cryptocurrency platform but they do not realize the possibility with this technology.
Can't wait to see what certain utility blockchain will bring to the table, platform like, golem, lisk, eos, sia, storj, and many others will bring the revolution in how the apps are being developed and consumed.
Thank you @cryptogem? How much memory would one persons device need to loan to the blockchain to be able to track data of billions of devices, cryptocurrencies (bet there will be several) & other tech just to be able to make this system workable. Will they have several different blockchains for different purposes? Such as, 1 blockchain for 1 currency. Another single blockchain for IoT (internet of things devices). Etc..
I understand blockchain bundle data data will simply be encrypted text data (probably compressed as well), but still very curious once the blockchain becomes a thing of the norm & everyones device (laptop, smartphone, etc.) will be keeping record of the blockchain(s), how much free space in Mb or Gb would be required?
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