The blockchain technology is a digital decentralised ledger that maintains a record of all transactions that occur across a peer-to-peer network. The innovation is that the technology allows for market participants/users to transfer assets (cryptocurrencies) across the internet without the need or purpose for a centralised third party. Blockchain has been recognised by the world as a new generation of powerful technology. Blockchain technology can considered as being able to change the world again just like how web 2.0 did.
Here at Everything Crypto Currency’s we believe cryptocurrencies aren’t just decentralised technologies used to store digital currency and used to trade/invest on exchanges to make a profitable gain. The first ever cryptocurrency Bitcoin will spark a revolutionary in the world today for governments, banks and big corporations through its blockchain technology. Many speculators are adamant that cryptocurrencies are just one big scam that’s in a ‘bubble’ eventually leading to a crash, potentially affecting many people around the world today. Although many respected figures in the financial industry share this opinion with compelling arguments, what happens to the fascinating ideas and technology behind cryptocurrencies?. Even if the crypto world is in a ‘bubble’ like many people think, what about the technology behind the blockchain system and ideas cryptocurrencies have given us? Blockchain technology has huge potential to revolutionise economies by building a trust less infrastructure with transparency.
Although many speculators may be weary of cryptocurrencies as a whole, we will attempt to identify cryptocurrencies with fascinating ideas while magnifying their technologies that could help solve issues we may face today. By doing so, we may potentially be able to see the value cryptocurrencies can bring for millions of people around the world.