It’s numbers, letters and different long keys that saves the balance amount, time / date of every transaction happened in the blockchain.
It’s what we call our own bank. A bank that no staff are to welcome you “How can I help you sir?” nor it can ever, ever tell you “we charging you a fee, even a dishonest fee.. you know what we throwing every dirty bank fee we got on your account…have a nice day B*TCH!” that’s the bank for you. 😀
This is what I call a blockchain system I believe in, no government, corporate company, people in suits controlling this. It’s what makes me happy about buying a coffee this morning anonymously.
You know what forget about the blockchain for a bit… let’s talk about The Customer who cried Bank Scam story:
See you have a store opened right… some punk ass customer comes in and purchases a product off you…You do the yaba daba Doo! Then right after… you ship it! A few days later you get contacted by a bank that a transaction happened at this date and time which they are referring back to this punk ass customer claiming he never purchased a product off your store and someone stole his identity 😱. So the bank chooses to refund him fully meaning taking the revenue and profit you just made off that PUNK ASS CUSTOMER from your bank account and back to his bank account. Now you got a problem.. I mean if the product was worth $600+ then I mean you got a real problem. Not only you need to contact this person and make sure his saying the truth but you just lost one of your products and the money on top. He won his money back, and the product on top! Second comes the worse headache contacting the bank for a resolution which your more likely to lose as the customer always has the upper hand ✋and gets away with it!
See here is another example relating the Blockchain and the Scam:
See again after a few months later you have store opened up again… this time you only accepting Cryptocurrency as a payment method. Some dude comes in and purchases the product off your store using his random coin selection Litecoin (I randomly chose Litecoin 😉) anyway back to where we were… transaction goes through and taraaa a successful purchase, you ship the item happy? Wait.. why happy? Because first the customer will not be able to make a refund, will not be able to contact the bank nor the blockchain nor you! You know why? Because he won’t be a scammer, it’s his own wallet, no one owns his wallet! Only if his an idiot and released his private key which a hacker came in and stole his coins, used them to purchase from your store… shut up!! We getting off topic again that’s not the point! The point is the Blockchain is the future and I will always believe in it!
I hope you got my drift where my topic was headed, a direction to get you picking up some idea how a blockchain is useful in the real world than a bank 🙂.
This has been a humble moment of writing this article. Your sincerely friend,
Wahid