Completely digital. Algorithmic math. Encrypted codes and clouds. All of these elements joined together could single handedly eliminate banks, centralized government control and the Federal Reserve in one fell swoop. Maybe not today, maybe not tomorrow, but the door has been opened, and everyone is working hard to remain a player in the game of finances. We call this trump card, Bitcoin.
Bitcoin is a digital currency. Imagine if your PayPal or Venmo profile were not attached to your bank account. There is no government or centralized issuing body for Bitcoin. We’re only now on the bleeding edge of this currency with a lot of money to be made and lost. Bitcoin itself may not last, but the idea likely will. A digital currency that is free to trade, internationally accepted, and untethered to any world power sounds like the future. However, there is still dust to settle and questions to be answered. Bitcoin might not survive, but it is surely a window into what the future of commerce looks like.
Although people may be unsure of the future of Bitcoin, the smart money is on the survival of Blockchain, which is the digital ledger that tracks Bitcoin’s transactions. Blockchain is an online thread that you can watch update in real time at Blockchain.info. Anyone, anywhere, can confirm a transaction without going through a certifying entity, like a government, bank or a notary. “The Internet we use today is the Internet of information. The Blockchain is the Internet of value”, Brock Pierce, Managing Partner of Venture Fund Blockchain.
“The Internet we use today is the Internet of information. The Blockchain is the Internet of value.”
We’d like to hear your thoughts about Bitcoin and Blockchain. Is it the next great revolution? Use #blockchain to join the conversation.