Why is everyone talking about blockchain?
If someone told you in 2009 that, in the future, blockchain technology would change the world, would you believe them? Of course you wouldn’t. You would have reacted in the same way as those who looked at Bitcoin as a fraud.
In fact, it’s extremely hard to predict how revolutionary a certain technology will be. It takes time to become accustomed to things that, when they first appeared in the market, nobody could imagine they would change our way of living.
Let’s think about smartphones. Do you remember when they made their entry into the world? Nobody, not even the most techno enthusiasts, could imagine how much they would have been part of our daily routine. And still they soon became a fundamental tool, helping people interact with one another and build a new business.
Technology opened up a world of opportunities in every kind of professional sector. Thanks to digital transformation we can now work anywhere, travel faster and enjoy social interactions while being miles apart, and the list goes on.
Having absorbed the digital revolution in recent years, we can safely assume that we are living in a new era. This era is represented by cryptocurrencies and blockchain technology.
Why is everyone talking about blockchain?
How did blockchain manage to become that popular? The reason lies in its extreme functionality. In just 10 years, this technology has remodelled the business world, allowing us to discover new financial opportunities.
Blockchain entered the spotlight with the creation of Bitcoin, the first cryptocurrency, made in 2009 by Satoshi Nakamoto. It now has millions of people all around the world using it for purchasing products or services.
Shortly after Bitcoin’s birth, there was blockchain. People soon realized that the underlying technology that made Bitcoin work could be separated from the currency and used for virtually anything.
Blockchain network has no centralised server or governing body. The data it stores is shared across thousands of participating nodes or computers all operating at the same time. Its crucial feature is that no single user or entity has complete control over it. This method removes the risk of criminal attacks. If hackers wanted to hack the data, they would need to access all the systems simultaneously.
What does the future hold for blockchain?
Although we know for sure that blockchain will revolutionize the world as it’s already doing, making exact predictions is a bit hard. We must not understate its potential. More people will become crypto enthusiasts and hundreds of companies will adopt blockchain technology to start their projects.
The future is around the corner. Are you ready to be a part of it?
