Any information in the world can be digitized. Anyone can freely access it. Information can be quickly transmitted in a hundred ways in a split of a second. Unlike information, the storage and transfer process of assets is still happening on paper and, often, takes a long time. Blockchain technology was designed to solve that issue and it led to the appearance of cryptocurrency. This exchange currency, protected by special methods of data encryption - cryptography, is called cryptocurrency. Cryptocurrency is not controlled either by banks or by governments and its turnover occurs through a single network consisting of different independent computers. Many users of the system can not only independently "earn" coins, but also create their own currency. The first example of a cryptocurrency was Bitcoin. The recent trends suggest that Bitcoin and other cryptocurrencies or "altcoins" become more and more popular. Every day more and more people learn about the blockchain technology and cryptocurrencies. Many new businesses that are based on blockchain technology, as well as new cryptocurrencies, appear at an increasing rate. It happens because users start to utilize some major features of cryptocurrency, such as transparency, safety, anonymity, independence, and convenience. I believe that it is just the beginning of the Crypto Era and any business venture linked to it is going to be profitable today and even more profitable in the future. Meanwhile, there is a lot of skepticism towards cryptocurrencies and many financial analysts call Bitcoin a bubble. A good example of a bad skepticism from the past is Robert Metcalfe, co-inventor of Ethernet, who predicted a collapse of the Internet in 1996 (Goble, 2012). As we know, Metcalfe was wrong.The Internet was not only a fashion for geeks but a reality in which we all live today. Nowadays, a world without the Internet can not be imagined. It took 20 years for the Internet to conquer the world.
But thanks to the Internet, blockchain will conquer the world much faster.
References:
Goble, G. (2012, November 4). Top 10 bad tech predictions. Retrieved February 8, 2018, from https://www.digitaltrends.com/features/top-10-bad-tech-predictions/8/
Agree. .we are seeing the world change with crypto
Good post
Followed
This is a good post, followed you so keep them coming.