Blockchain technology was invented in 2011 and is considered "next generation" database technology. In short, we are moving from centralized databases which have a number of serious problems to decentralized databases that offer game changing functionality and security. The transition from centralized to decentralized databases will not happen magically and there will be many road bumps along the way. But the inevitability of the new Block chain database technology taking over the world is a foregone conclusion.
There are so many advantages to block chain databases that they are too numerous to mention. However, the fact that blockchain technologies will help the world's poorest 2 billion people have bank accounts and participate in the global economy using smartphones is enough of a reason for the technology to be adopted as quickly as possible. But there are another 5 billion people who will also greatly benefit from Block chain database technology.
Perhaps most radically, and the reason that Satoshi Nakamoto invented bitcon is the fact that he wanted to change what for many decades has been the ire of financial traders around the world. For many decades the United States has operated in the world economy as the dealer at the casino table. No matter how much a bond trader in Tokyo did to make money for his insurance company, for example, US companies had the advantage of being "the house."
Blockchain technology in general and bitcoin in particular will level the playing field. The days of "old boys networks" dominating the economic scene are numbered. Because of the blockchain the world should become more of a meritocracy. Steemit is a great example of how the future of journalism and music will allow people to "sell" their talents, skills and knowledge in an open global market without stuffy financial institutions and the people who work in them always getting a piece of the pie they don't deserve.
The block chain is a global database that anyone with Internet access will be able to benefit from.
I'm assuming most of the people on steemit.com are aware of the blockchain but sharing the knowledge with others will help move things forward. The following TED video is a great introduction to the blockchain.
Image Courtesy Pixabay: https://pixabay.com/photo-2008262/
hey followed you and upvoted you. hope you can do the same. steem on friend.
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I've been intent on buying BitCoin, ether etc for a month and all I found was vert doggy Exchanges and invasive pseudo-security. This is more stifled than ever:
"The list of exchanges i made was as long as the time spent researching.
My system is to rate exchanges as good in blue, bad in red.
Nearly all the long list is RED."
https://steemit.com/bitcoin/@worldsoulfusion/crypto-my-a
https://steemit.com/bitcoin/@worldsoulfusion/like-i-said-time-to-get-rid-of-the-man-in-the-middle
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