What is Blockchain Technology & Cryprocurrency? For beginner's understanding!!!.
The world is changing everyday & there is a serious need for us to keep following the trend. Bill Gates says that the secret of success is knowing where the world is going and position before the masses! We now operate digitally with smart phones & can reach anywhere in the world just from the comfort of our homes with our devices. No more writing letters. The Internet gave us this privilege & lots of industries like Post Offices were disrupted. We are now seeing a bigger internet - Blockchain technology. It gives us the ability to move value or money from one place to the other all over the world without the banks or government regulations!
This new money - Crypto currencies have a known quantity or total supply that can never be increased. It is also secured & powered by blockchain technology. This means that demand can make the value to grow higher & higher. We can now safe money where the value appreciates day by day... The world can now transact businesses together in seconds without hitches. We now have the privilege to invest in any project worldwide in minutes...
Blockchain Technology
This is the technology that makes this happen. It is an open ledger system for proper accounting & security. This technology can be used in many aspects of life apart from Finance! Agric sector, HEALTHCARE sector etc can also use the technology 4 high efficiency & productivity.
Example: Our money in the bank are protected and accounted for using the banks softwares & applications! The digital assets (Cryptocurrenies) are protected and accounted for using the blockchain technology! It is an open ledger Accounting system. It records data in a global database like in many systems all over the world & can NEVER be hacked, destroyed or altered.
Currencies as we use to know started from Trade by barter - Cowries - Gold - Coins & fiat currencies (Naira, dollar etc)! Now is going Digital & the whole world is following the new technology.
Bitcoin: This is the first & widely known digital currency in the world! It was initiated since 2008 by Satoshi Nakamoto the originator of Blockchain Technology. The price is rising day by day & the whole world is endorsing this new technology money. The total supply of digital money is fixed and higher the demand the higher the value...
Crypto currencies: All the digital currencies including Bitcoin are called Cryptocurrenies like Ethereum, LiteCoin, XTRM coin, YOCOIN etc. All of them are called crypto currencies. They are traded (buy & sell) in a market called EXCHANGES. The more the world accepts & use this currencies the more the value rises!!! This is just the best time to buy them.
Countries like India, South & North Korea, Canada, Germany, Venezuela, Kenya, US, G20 countries. Etc. are already endorsing this new currencies.
Nigeria House of Assembly have also started discussing the regulation of Blockchain Tech & Cryptocurrency! Watch video..
Lets position & make money with this New generation money! New technology! New innovations! 4th industrial revolution.