How is Blockchain Changing the World?

If you haven’t heard about Blockchain, you will soon. It’s changing how the world will function.

This is the same technology that powers Bitcoin and other cryptocurrencies. It’s important to note that Blockchain is NOT JUST cryptocurrencies. It’s a distributed ledger that is unchangeable, visible to all yet hides the identity of users and stores transactions forever.  All this happens without governments, banks, credit card companies or other governance. The Blockchain software and solution is the governance of the system.

Who is Driving Blockchain?

Blockchain started back in 2008 and has gain huge momentum in the past 4 years. One of the big drivers has been crytocurrencies such as Bitcoin which sit on top of Blockchain. As more people use Bitcoin and invest in it, the use of Bitcoin and Blockchain technology that it sits on top of have grown exponentially. Companies such as IBM and Oracle have entire divisions gearing up on Blockchain. These companies are interested in more than cryptocurrencies. They are looking at entirely new solutions using Blockchain. This technology is here to stay and growing!

Future Impacts

Banks, credit card companies, building title history, stock and commodity exchanges, anything that has a ledger that tracks transactions is up for grabs to be impacted in some way by Blockchain. This will be just as disruptive as the Internet was to brick and mortar stores or the engine was to the stagecoach.

Here is a great article to give you more perspective from PC Magazine.

If you are looking for a higher level view of Blockchain, watch this TedTalk video