Bitcoin has been getting a lot of press in the recent years as an alternate form of currency. At the end of the day, it simply that – a form of currency that one can use to trade goods and services, nothing more.
In addition to it, Bitcoin is fighting a steep, uphill battle. The bitcoin enthusiasts love bitcoin because it’s an unregulated form of currency with no boundaries. As wonderful as this might seem, this is precisely the reason Governments around the world want it abolished. If the government can’t control it, they don’t want it to be around.
Hence, I personally am not too inclined to own bitcoins. I’ll stick with my dollars for now until they find a way to regulate bitcoins.
But, I am more than excited about the underlying technology bitcoin operates on – Blockchain.
The uses of Blockchain technology are far and beyond digital currency and its exciting. Here are a few to mention:
- Smart contracts – digitization of documents and proof of ownership for transfers
- Stock exchanges – digital trading platforms
- Health records – decentralized patient records management
- Smart property – digitally recorded assets
- Music distribution – proof of ownership for digital content
- Secure digital voting – fraud-proof, anonymous digital voting solutions
Another fact I love this is it’s a technology. It doesn’t have to be regulated.
Combining these two facts alone makes blockchain an exciting future technology, in my humble opinion.
If you’re going to invest into something like this, do you own due diligence before investing. This post is purely for entertainment and educational purposes.
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