Beyond the Bitcoin Revolution: Blockchain Technology will Change the World
Technologies come and go, but some technology stick around and change the world. Is one transformational technology, but there’s another one on the horizon.
By now, you have probably heard about cryptocurrency – the growth in the purchase price of Bitcoin generated millions of investors and many more millions of avid watchers. On the other hand Bitcoin lovers are not truly familiar with the blockchain.
Regardless of what happens to Ethereum, Bitcoin and the like technology is changing the world.
A Better and More Stable Internet
The net has grown far beyond the scope of its creators. What started as a way for military and government officials to communicate across enormous differences has now transformed the world in countless ways, but the revolution hasn’t been free of problems.
Later on, blockchain technology could transform the internet for a second time, taking it into a whole new level and providing stability and greater speed for consumers around the world. By harnessing the energy of this blockchain and utilizing decentralization net engineers could distribute the functions of the World Wide Web. That should provide not only improved speed and efficiency but a resiliency and resistance to other actors and hackers.
More Efficient Markets
Technology forces the market that is cryptocurrency -everybody with a Bitcoin accounts or an Ethereum wallet knows that. However, what people do not know is that the power to revolutionize the wider market is also held by this technology.
From exchange-traded funds and mutual funds to individual stocks and bonds, traders make them more effective and are considering using blockchain to power their markets. Later on, the trading model, one which uses a centralized clearinghouse, could give way to the blockchain model that is decentralized, resulting in safer quicker and more efficient trading for dealers and professionals .
Contracts are notoriously complicated and difficult to understand. It can take hours to an army of lawyers to read and review the simplest of company agreements, and that work costs money.
In the future, contracts could be much easier and much easier to enforce. The blockchain’s transparent and open world gives it the ability to create and enforce contracts. These smart contracts are being used in some quarters, and as their worth is proven by these agreements, their use is only expected to rise.
Storage accounts are these days, but they still have their limitations. There have been some high profile hacks of cloud storage accounts, to personal details published with everything from celebrity photos that were embarrassing.
That lack of safety has left many users wary of storing their documents but blockchain technology can make those storage sites a lot more secure and protect them from the most sophisticated hacking attempts. Rather than relying cloud storage’s blockchain version is decentralized in nature, providing enhanced security for everyone involved.
Having those messages fall into the wrong hands could be catastrophic, although messaging apps are all the rage these days. Blockchain technology promises to make communication more secure, although from actors to CEOs, women and many men are brought down by the airing of the opinions.
A couple of messaging apps enabling people to share messages securely and are already benefiting from blockchain technology. Without a central depository these messaging applications should be far more secure, making their communications a lot more private and giving users extra confidence.
The market was hot and Bitcoin millionaires’ stories are everywhere. Given the level of media cryptocurrency it is easy to think that these coins would be the whole story, but that is far from true. In the end, blockchain technology is the story that is true, and the blockchain is here to stay to Bitcoin, Litecoin, Ethereum and other forms of payment.
Adel p Meyer, co-Founder of DAPS Project and The Crypto Collectors — Host of #BlockchainChat — Advisor and PR Specialist works with blockchain companies with a focus in solitude marketplaces, gambling and collectibles.