Blockchain is so innovative because it can't be bought by bigger companies!
I think about blockchain a lot. I think about it a lot because I believe it will change the world forever.
I'm trying to come up with small and short explanations why it's so innovative so I can convince others, because that is for some reason, not easy.
For example: Imagine anyone trying to buy or crush a blockchain (STEEM).
Facebook buys everything
What happens to small innovative new companies or even big ones in the world today. They are bought up by even bigger companies.
Facebook is my favorite example. They are so big and they have so much money that it’s possible for them to either crush or buy any competitor. You can find the whole list here.
They bought Instagram for $1 billion and WhatsApp for $19 billion. How can anyone resists being offered this?
Now Imagine anyone trying to buy or crush STEEM
Because the STEEM blockchain has no owner there is a problem. If there is no owner you can’t offer anyone a bunch of money to shut down shop.
Next thing they can try is to buy all the ‘shares’ (all the STEEM) to control the platform. This would be great for investors cause the price will skyrocket but besides that, it will lead to nothing.
And even if they managed to do so (and it will cost a lot of money) the platform is open source. It is just as easily copied and it can start again under a different name.
Cool right!
I believe more and more users will join STEEM in the future. It's really small right now and not a big threat to anyone.
But as soon as STEEM becomes a bigger force and it's time to 'do something about it' the companies of old will realize it can't be easily stopped.
Blockchain technology is so innovative because it’s uncontrollable. It can not be bought and it can not be stopped.
This and many other reasons are why I believe blockchain will change the world.
Follow Me @exyle
Great post, you should support a few other techs alongside with Steemit
https://openbazaar.org OpenBazaar for buying and selling of goods, let's get it to replace Amazon or Ebay, it is owned by no one and TOR support is coming and currently supports more than just Bitcoin now
https://bitsquare.io Bitsquare, get off of poloniex or even Local Bitcoins, do exchanges of currencies anonymously on a decentralized platform that can't be shut down
https://storj.io Storj , think dropbox, but even better, this platform won't be suffering hacks like a centralized server dropbox or google drive or onedrive can suffer with how their cloud systems are running.
+1 for bitsquare, we need to get onto decentralised exchanges asap, too much power concentrating in some big centralused ones.
Sia is a great decentralised data storage platform.
Haven't heard of Sia, will look into it.
I believe there are some things in the works or even may be working in media on blockchains in decentralized ways, video specifically, I wish I could remember the name, may be Library or LBRY or something. I know OpenBazaar already handles audio and other digital transactions, even a band on Steemit released an album on it https://steemit.com/introduceyourself/@kylehenry/introducing-myself-and-my-psychedelic-project-myco
I see Storj is working now, Sia was actually first into production but what often happens in crypto is one coin gets all the media coverage.
Anyway its good to have alternatives.
Great for mentioning more decentralized projects. I just used Facebook/Steem as an example because it was the easiest to make an example with simply because we are on Steemit.
I for sure do not want to sound negative, but Blockchains as such can still have (some) negative impact on the users.
To bring arguments to the possibility to actual take over the block chain:
Other harm out there:
Blockchain is open to 'anybody', but not anybody is analysing the blockchain, only a few are doing this:
To be honest: Steemit got me into blogging. On none of the other social media I was posting; maybe sometimes reposting, but rarely. I never uploaded photo's except maybe 1 or 2 profile photo's for sites like Linkedin. So, yes I also do somehow give trust to Steemit UI, to eSteem and other applications. I give all my trust also to the witnesses. I furthermore somehow give trust the openness of the blockchain and all the stuff I;m writing about and commenting on, will never be used against me in some way or form. BUT, I for sure do not think I'm anonymous, and if someone wants, I can be somehow identified and all the information I entered onto the Blockchain can at least be used to profile me much better than any party could do before. That profile can be used for harmless stuff, but also harmful stuff.
Thanks, you should post that.
Interesting thought, I guess post get more visibility then comments! I tend to write long comments, to express better what I want to say. Hmmm, I consider to make this comment part of a post. Thanks for the suggestion.
I guess a good comment can sometimes get more (and genuine votes) than a post if it's made very early.
I do agree, votes on post could be a lot by auto voters, votes to comments are generally manual votes after reading it (not always though, but most of them in my experience).
What ana amzing thoughts, well done! We will beat the system eventually, or to some extend :) Vote up and resteem :)
Thank you!
thank you for information !!
You are welcome!
Thanks for the post @exyle. Although obviously using Steemit I haven't thought too much about its possible impact on the social media world of today. Probably need to start and board the bus early :-)
Thank you! I think Steemit (or something similar) will create a huge change in the Social media World. It's still early days though. But it is very exciting to be a part of it.
Wow! Agree with you here, had the same thought!
That's great! It sure is cool technology!
couldn't someone or entity buy all the available steem power on the market, would be expensive, and then they could control the reward pool? I have wondered about this many times. I guess they wouldn't own the chain but i do wonder how that would work out.
That's possible I guess and expensive. 66 million if you could buy all the STEEM at the current price. But because everything is open source now new decentralize projects will arise very fast. I don't think it can be stopped.
When I win the powerball!!!!
Best Post ! Short ,simple and analytical . Thank you ! upvoted , reesteemed and followed !
Thank you. Very kind words!
Most welcome !
I am with you on this one, It is the superpower that is underestimated!!
Love the positivity!
Hehe, you gotta keep it up!!!
You make so many good points about steemit and the blockchain. It's a revolution that will affect millions if not billions. They just don't know it yet! :)
Thank you @rea. Indeed they don't know it yet! How cool that we do! I hope you are having a good time in China.