Will the Blockchain Be Our Next Internet, Email, or Smartphone?
Technology and the internet are moving at a fast pace. Knowing the latest and greatest in developing technology is essential in understanding the world we live in, especially when it comes to technology that could be the next internet, email or even smartphone.
So what exactly is coming, and why is it important to know about this disruptive technology?
The blockchain first existed as a public ledger to allow for the existence of cryptocurrency — namely, Bitcoin. Bitcoin is still available today, and its price and popularity have only increased, with top influencers endorsing it and even investing in it. Bitcoin has also led the way for thousands of other cryptocurrencies following its lead.
A blockchain-based system itself is very secure and transparent. It’s also decentralized, so it can’t be controlled (or tampered with) by any single entity.
Blockchain technology allows for users to be secure while still allowing for transparency thanks to its two-key system. Each user has a private key only known to them, kept private usually using a third party digital “wallet” service. Users also have a public key that serves as their unique, visible address. This key is used to conduct transactions, which are permanently recorded in the blockchain ledger.
What this means is complete freedom from government taxes, banking fees, or any type of third party intrusion into your financial affairs.
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” -Don & Alex Tapscott, authors Blockchain Revolution (2016)
Although the Blockchain technology was originally made for cryptocurrencies, it has vast potential outside of the financial industry.
Take one example: the music industry. Artists are looking to the blockchain to provide them with a secure way to distribute not just funds but also the music itself! The blockchain ledger could hold the key to stopping copyright infringement by recording every single album purchase, and tracking an artist’s work as it travels and is sold to different consumers.
Blockchain technology is already transforming many more fields — food production and transportation, the stock market exchange, artificial intelligence, even politics and government.
Authors of Blockchain topics like Melanie Swan foresee Blockchain as “the next huge wave in technology.” Indeed, this is a technology foreseen by the experts to dominate the world, on a scale similar to the internet’s introduction.
Looking back, who could’ve imagined that these innovations that were nonexistent before — outsourcing, working at home, emails, developments in cryptography, mobile phones, touch screen gadgets, and Android, to name a few — would actually happen today? Etherecash.io provides all the kinds of services which allows you to have a new way of controlling your finances.
Blockchain, for now, seems like a complex system, but you don’t need to know exactly how it works to understand the implications it will have on our world today. Its decentralized nature will lead us to view entire industries in a radically different light — and revolutionize the free market as we know it.
With the help and support of Etherecash, you can invest with full confidence, as the team is ever ready to guide you. Etherecash makes use of the ERC20 blockchain technology with lawyer backed contracts, making blockchain backed lending and fund management, private and seamless.
Purchase our Etherecash token through our ICO from November 15th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.
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