The Blockchain

Blockchain
Photo: on Pixabay under Creative Commons CC0

The first time I heard the word Bitcoin or cryptocurrency was when I discovered the dangers of the Deep Web: a virtual space created in the 90s that still escapes the control of conventional searching engines and authorities due to the shield of anonymity.

Until now, the only use I knew about this virtual currency was related to illegal activities: drugs, arms, organs, animals and people trafficking, terrorism, hacking, espionage, etc. 

Recently a new even more complex term has been created: Blockchain, a cybersecurity trend with an increasing interest shown by many companies.

Here are 3 keys to understanding Blockchain:

1. What does it consist of? It is a huge digital accounting book where all the transactions made by users connected on the Internet are registered.

2. What characteristics makes it special? The transparency of information, the security of the encrypted systems and the decentralization of a process without intermediaries.

3. What is it for? In the First World, it opens the door to new business models: digital micropayments, electric cars, real estate services and online notary, collaborative and decentralized journalism, Industry 4.0, electronic voting, etc. In the Third World, this technology could improve the efficiency of humanitarian aid by reducing costs and increasing aid in remote areas or areas hit by wars and natural disasters.

Blockchain is useful to build trust-based relationships between strangers and, thanks to the smart contracts, automate many of the transactions that currently require human intervention or being trusted by a third party intermediation.

This tool guarantees to be the engine of the fourth industrial revolution and may change our lives in the not too distant future. A technology that will imply a before and after in the way of carrying out daily activities.

 

6 Comentarios Agrega el tuyo

  1. Harvey dice:

    There’s a lot of information about blockchain but still difficult to process.

    Le gusta a 1 persona

    1. That is right. It’s just unbelievable how this can happen. It will change our lives as the pace of technology change accelerates.

      Thanks for the comment!

      Me gusta

  2. Kat dice:

    Where to start if i want to make a career in Blockchain?

    Le gusta a 1 persona

    1. Hello Kat.

      Well, first of all, you have to read and understand how Blockchain operates and what applications it has. You should also have knowledge about programming (the basics).

      Once you have retained all the information I recommend you to be in touch with experts of this field (on Twitter, Linkedin…).

      From there, you should blog about your discoveries and opinions. That will be a good way to get you hired at a company.

      Good luck! 😉

      Me gusta

  3. Great article, short and sweet! Thanks for sharing 🙂

    Did a Basics of Blockchain article myself: https://allaboutthattechweb.wordpress.com/2017/10/12/blockchain-the-basics/

    Le gusta a 1 persona

    1. I appreciate it! Thanks for sharing your article, I’ll take a look 😉

      Le gusta a 1 persona

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