It is a technology that is likely to have a great impact on the whole of mankind over the next few decades. It is not like social media, data or robots, not even artificial intelligence, but it is a basic technique for digital currencies such as BTC, Little by little because it is the new generation of the Internet and the reason for this proliferation is that it carries great promises for every business, every society and everyone individually.
Everyone knows that over the past few decades we have had so-called Internet information that has been democratized and made available to everyone unconditionally. However, when it comes to assets (money, stocks, bonds, intellectual property, music, etc.), these are non-copyable things. We depend on brokers such as banks, governments, large social media companies and so on to transfer such things to establish trust in our economy. These mediators lead all the logic of business and transactions, starting with the identification and identification of the people involved, but the problems of the traditional system are growing and the most important of these central problems in dealing that are always threatened penetration and in our time more than ever before, in addition to slow transactions, It may take days as well as a substantial share of the fee for the service provided
And in return to centralization they take over our data and in some way our privacy is being undermined, contrary to what we should be now in the digital age in which equality and social justice must be devoted, unfortunately, because of central ruling families in turn
What is new is that there is something other than Internet Information (Internet Value) as a global account book and is available to all working on millions of computers where any kind of assets can be funded and even music can be stored, transferred, handled, exchanged and managed all without mediators After a global financial crisis, a person named Satoshi Nakamoto created a paper in which he developed a protocol for digital money, which used a basic encrypted currency called platinum, which is now 3 times the ounce of gold in world markets. This encrypted currency enabled People from establishing trust and carry out transactions without the need for a third party, and here I mean the banks and this digital value of the asset rises in the markets and declining demand from them without control value from one of the central banks.
For the first time in human history, people everywhere can trust each other through P2P transactions. This confidence is not only due to the presence of some large organizations, but also because of cooperation and encryption, as some have called the trust protocol
The way it works is that technical assets such as money, even music, and everything that is between them are not stored in a central location but are distributed through a global account book that uses the highest levels of encryption. When a transaction is made, millions of computers around the world call the prospectors or Every ten minutes in what is like the pulse of a network is created block block reserves and prove all transactions that took place during the previous ten minutes to connect the new block with its block to create a series of blocks blockchain and each one sealed at a certain time so it is difficult to break this block in addition To previous blocks And all the records of trade on the series of blocks not only on one computer but across millions of computers together and all use the highest levels of encryption and therefore very secure compared to the computer systems that we deal today and the portfolio of Bitquin is one of them only.
We also have a series of etherium coin blocks developed by a 22-year-old Canadian man with exceptional capabilities. One of them is that you can build smart contracts, which is a contract that runs out on a personal basis. This contract deals with implementation, management, performance and payment. This contract contains a performance account for agreements between people. Work on projects to do everything from creating an alternative to the stock market to creating a new model of democracy in which politicians are accountable to citizens
Therefore, to understand the magnitude of the radical change that this will bring, for example, one of the fields is financial services. This is a very complicated area for a simple service, but through the financial system, we will not need all of these stages from payment to settlement. The traditional financial system to the settlement in the same movement is just a change in the book of accounts, which poses a threat to the traditional financial system in the world
I happened to be watching the vbideos of a friend who has a beautiful rhetoric for the explanation of all these topics and is very similar to what you tell us here. Finally something that is not copy and paste. If not that it comes with feeling of what this revolution really is