What Exactly Is Blockchain, Anyway And Why It Is Important.
‘What is blockchain?’ While there are so many people out there making bombastic statements about the possible applications of this new and exciting creation. The uses really are still a mystery, being worked out by those brave enough to run head first into this new frontier.
‘What is blockchain?’ Perhaps rather than stating it’s a distributed public ledger, we take a more subjective viewpoint and look at the last technological advancement, the internet. When the internet launched to the public we had email, databases for industry and governmental institutions, at first the internet was just about the instantaneous exchange of simple information.
Later sites like eBay started to appear and the internet went from simple information exchange to the exchange of goods.
Later still, serveries started to appear with the ability to exchange not just simple information but videos, music and data about every aspect of a person’s life. The internet was a revolution in information exchange, in this age the entirety of human knowledge is held online, everything we know at our figure tips, it is deeply profound.
So the question ‘what is Blockchain?’ the internet made all the information in the world freely accessible, blockchain frees money, asset transfer and makes fraud impossible, but this is just the start of the answer to ‘what is blockchain?’ Its infinite possibility, just as the internet is and was, it is whatever we make it.
In the 1990s at the birth of the world wide web, back then no one would have guessed websites like Wikipedia could even exist let alone Facebook or Instagram.
So ‘What is blockchain?’ Ask me again in ten years I will have a better answer for you, for now, its whatever we make it.