Burying the head in the sand? Still, the king is naked!
BLOCKCHAIN and THE FUTURE NOW!
The Blockchain revolution is upon us and emerging technology is gradually encroaching on every aspect of daily life and almost all industries will be significantly disrupted.
Blockchain was first introduced with Bitcoin, as the shared records of all Bitcoins transactions are known as a blockchain.
Same with Ethereum, the shared records of the Ethereum network of every transaction and computation it has ever performed are known as a blockchain. In a world of blockchain you can run everything of value.
The World Economic Forum predicted that in 10 years time from the world’s GDP, at least about $7,8 Trillion on today’s value will be stored with Blockchain
In an age of globalized, internet smart economy, Blockchain will find broad use and definitely change the world in a shocking ways, making a major impact in the lives of everyday people around the globe.
BLOCKCHAIN is certainly brilliantly, revolutionary technology, that will change how the world does business, currently the fastest growing industry, and the root of happening now the fourth industrial revolution and rising new financial system in a world.
Blockchain gives the chance to the people to build their own community in different fields of life and independent from classical financial institutions.
BITCOIN, THE FIRST OF THE FIRST
The beginning of this craze, BITCOIN , the king of cryptos is just in time and perfect for the new technological world and derives intrinsic value from the nature of it’s design.
The currency is decentralized so no single institution or government controls the Bitcoin network, actually the only group that really, truly controls the Bitcoin in the ends are the users.
Suited for the demands of an ever changing world, especially for millennials, and gaining massive popularity and availability across all continents. The influxes of capital rise massively while consumers are switching from fiat currency to Bitcoin and other cryptocurrencies and this further builds the demand for them, making cryptocurrency spendable anytime, anywhere.
Shared, decentralized economy is taking off, with new models of finance intermediation.
This is the new world of six-months product development cycle and constant updates, primarily on a software with a huge premium on simple user-interface and trusted security.
A new world where data is king, with many new players, with new rules!
All this will put a question mark on the fractional banking model we know today?
If there are fewer bank deposits? And money flows into the economy through quite unforeseen new channels.
As a result these banks were to become less relevant in the new financial world and even demand for central bank balances were to diminish.
Bitcoin is actually the best and strongest long-term investment, even beats classic cars, art, gold… in Luxury Investment Index. Bitcoin performs better than notable safe heaven options.
The volatility of cryptocurrencies shown from time to time due to speculators is a little of importance, as there are always those waiting in the ready mode to buy Bitcoin whenever there is a price dip.
The argument that Bitcoin is used by criminals is not so valid, Bitcoin is too hard for criminals to use at the moment, it’s much, much easier for criminals to use the US Dollar which is actually the most used currency for criminal activities.
There are examples for exceptionally friendly environments toward cryptocurrencies and Bitcoin like Switzerland with it’s two “Crypto polis”, Chiaso and Zug in a bid to attract cryptocurrencies start-ups and as a global hub for Bitcoin adoption.
Also Japan with its pro cryptocurencies legislation, solidifies as a leader in Bitcoin and other cryptocurrencies adoption.
Should governments choose to crush and can they crush digital currencies? The answer is big NO, the innovation genie is out of the bottle,and it’s beyond government control, immune to government intervention.
Fortunately this time around the governments do not have a means to win the battle, YES, it might just slow down progress and rise volatility and uncertainty and that is all.
BANKS, the most CORRUPT part of society. Indeed, the day’s of banker may be numbered.
Just recently there were very interesting and important comments about the international relevance of Blockchain and cryptocurrency industry.
As the General Director of Putin’s Far Eastern Development Fund, Alexey Chekunkow stated:
“We are witnessing an unprecedented phenomenon in the history of finance- a real democratization of capitalism, when millions of investors from all over the world are directly investing in promising projects using blockchain technology.”
Christine Lagarde- The Managing Director of International Monetary Fund has speculated that Bitcoin and Cryptocurrency have as much of future as the internet itself.
In her words: ” The Blockchain technology itself can replace national monies, conventional financial intermediation, and even put a question mark on the fractional banking model we know today.”
Virtual currencies provide their own unit of account and payment systems. These systems allow for peer-to-peer transactions without central clearing houses, without central banks, without middleman.
In a long-term digital currencies will pose challenge to the existing order of fiat currencies.
So it may not be wise to bury the head in the sand and dismiss virtual currencies.
For instance, think of countries with weak institutions and unstable national currencies, hyperinflation, like for example Venezuela, instead of adopting the currency of another country, some of these economies might see a growing use of virtual currencies.
Citizens might very soon hold virtual currencies rather than physical dollars, because it may one day be easier and safer than obtaining paper bills, and because virtual money could actually become more stable, governed by credible, pre-defined rule, smart rule,an algorithm that can be monitored, that might reflect changing macroeconomic circumstances.
New models of financial intermediation?
Banks should be worried, as they will be faced with multiple challenges from blockchain derived new technologies that could potentially make them redundant and the bankers endangered specie.
ETHEREUM or “World Wide Computer”, which will eventually replace server farms.
Bitcoin’s virtual cousin, Ethereum is a global computing network operating according to rules defined by ethereum software.
Like a smartphone that can be programmed to operate according to the APPS built on top of it. The APPS on Ethereum platform are called DAPPS because they run by a decentralized network of computers.
The ethereum network has it’s own virtual currency, Ether, which are needed to pay the other computers on the network to complete tasks, and is bought by people, betting that it will become more valuable in near future.
It is estimated that by 2020, there will be 50 billion connected devices, including cars, fridges, homes, hotels, potentially everything with value around us.
This is so called Ethereum “Internet of Things”.
Your connected fridge will soon know when you’re out of milk and automatically order you some more and even pay for it.
Musicians could self distribute songs and charge fans, your car can pay parking meter…the power of blockchain will make all this possible.
All this will be part of smart economy incorporating digital assets, smart contracts, digital identity, all to be used in real world applications, integrated in real economy.
Most intriguing of this connected experience is this tsunami of monetary transactions estimated globally worth of trillions of dollars that will happen with things talking to each other.
And this is just a first wave in what will be a tsunami of micro-payments powering the Ethereum “Internet of Value.
“Internet of Value” will enable the exchange of any asset that is of value to someone, including stocks, ( bye bye Wall Street), securities, music, votes ( bye bye dictators), real estates, gold, anything and everything.
It will connect billions of people around the world to transact, give rise to entirely new businesses and industries through ICOs., increase financial inclusion for billions under-banked consumers.
Citizens, companies, states, will either miss the boat or be an early adapter and make huge competitive advantage with extremely high rewards.
Ethereum has proved attractive and useful to giant companies that have to complete lots of complicated transactions with parties they don’t trust.
For example SAMSUNG and TOYOTA have experimented with Ethereum Platform as a way to keep track of products moving through supply chains that involve many players.
Also PFIZER and GENENTECH turn to Ethereum blockchain to develop an Ethereum based platform for
medical ledgers.
That is Ethereum “Internet of Things”.
Blockchain is the second significant overlay on the internet, just as the WEB was the first layer back in 1990s.
So where is Wall Street here?
Ethereum is leading blockchain platform for ICOs.(Initial Coin Offering).
ICOs, building TOMOROW today!
The most interesting, most promising part of blockchain revolution are ICOs.
ICO – Fundraising method that trades future crypto coins-tokens for cryptocurrency that have an immediate liquid value. The big expectation is that ICOs will give rise to decentralized organizations that could one day sooner than later, disrupt many today’s business giants.
Building tomorrow, today. And for anybody being part of tomorrow is exciting.
Of course the stress is on quality of the ICOs project, with genuine, intrinsic real world value, and applications.
This is the banking industries last ditch effort to stop something that could potentially make them redundant, indeed the days of banker may be numbered, endangerd specie.
On the abundance of today’s ICOs market with several hundreds of them, and many popping on a weekly basis, many will crash and burn, but many also will stand and survive making fast moving investors a fortune.
Let you remind randomly of just some of the ICOs on an actual market:
CobinHood, ATLANT, CoinLoan, LockChain,CoinCircle, LaToken, BricBlock, GLADIUS, DETHER, CanYA, PRIVATIX, GoldMint, PowerLedger, FileCoin, TEZOS, BANCOR,STATUS, KIK, OmiseGO,QUORUM, Qtum, GOLEM, TETHER, TenX, MaidSafeCoin, EOS, AUGUR, MCAP, BasicAttention, POPULOUS, VIVA, ZrCoin, FundRequest, ADEL, TokenCard, ARAGON, STARBASE, LUNYR, MobileGO, WANCHAIN, SOFEROX, CarTaxi, HaloPlatform, CoinSchedule, WePower, MegaX, GLADIUS, … and many, many more ICOs.
The triumph of cryptocurrencies is the fact that they cut the middleman, it’s peer-to-peer transactions, and investment game has changed forever.
The core impact of ICOs is that it challenges the existing social structure, it allows previously poor to taste the feeling of wealth in a rapid manner.
And people will love to invest in something that they can read (Whitepaper), analyse, read the experts summaries and Press Releases of a particular ICO, and It’s much, much better than gambling.
Still investing in ICOs you will have extra risk, with little proof the ICO will succeed, but if it succeeds the potential for profit skyrocketed. As saying goes the higher the risk the higher the reward.
ICOs allows you to invest in them from the day 1, from it’s beggining, it’s amazing adventure.
Of course in an abundance of ICOs there will be scams, money grab shells, fraudulent schemes, unprepared teams… and many of ICOs will burst in a “bloodbath” with many people losing their money, it’s mostly collateral damage but also in fraudulent ICOs intentional, and at the end, globally, it will matter the expected exceptionally rewards for this brave new world.
But the ICOs which will stand and survive will be the next and better Central Bank, next and better WallStreet, next and better JPMorgan Chase, next and better UBER, next and better Amazon, next and better everything.
What a wonderful world.
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