Blockchain's fact or fiction

lesgotty (35)in #cryptocurrencies • 4 years ago

Blockchain' fact or fiction?

Also posted in my read.cash look below for the link

Blockchain is estimated to be more than ten times the internet's worth.
Most people think that blockchain and bitcoin are one, bitcoin was founded or programmed by Satoshi Nakamoto is 2008 while blockchain has been traced back 17 years earlier 1991.

Blockchain must be the best bookkeeper ever created due to not having room for anything other than that which fits in that specific block to continue the chain or the block making the part of the chain.

Everything needs to be 100% correct, legit, no scams or it won't be accepted as it won't fit.

The future with blockchains integration will leave lost paper trails in the past meaning no more lost documents.

Blockchain is already being used to store digital identification numbers and documents. It won't be long until we won't have to carry identification documents because the whole database will have all our information, it's almost inevitable.

Digital IDs goes beyond personal identification, it's instrumental and can be used all around to cover every aspect of life.

In the fashion industry they are already using blockchain technology to help identify the products all the way back to their raw material states. The counterfeit goods market better watch out.

Debeers, the world's leading diamond company uses blockchain technology to identify diamonds from the time of mining to the point of sale, the diamonds all have unique IDs even when stolen.

Blockchain is the new store of value, Bitcoin and Ethereum amongst others are major stores of value taking the long term assured place of gold as the undisputed store of value of all time.

It is widely known that "You shall know the truth and the truth shall set you free.

"Blockchain is the truth, a single version of the truth but no single point of failure.
Change one block and you'll need to change every subsequent block before new blocks can be mined" - Forbes

For these reasons the margin for error is non existent. It is estimated that less than 1% of the world population uses blockchain. That means about 7 million people, which is questionable because blockchain is slowly but surely taking over most industries while people use blockchain without really knowing much about blockchain.

Blockchain leave corruption/ errors/ glitches no place to hide even if that means the whole system might collapse due to faulty foundations.

Blockchain is fool proof and cannot be manipulated.

Absolutely everything is counted for and measured out, from the whereabouts to the origins of it all.

Decentralised and autonomous companies and smart contracts will be the norm. Leave no room for dishonest transactions, everything is working within the norm of the blockchain setup, to refuse blockchain is to accept the norm of corruption.

Blockchain can make elections fraud a thing of the past due to it's flawless blocks setup, voters will be able to vote from their phones using facial detection, fingerprint recognition, or simple digital identification protocols.

Blockchain is well over 570 billion dollars worth of value in the world's market. It's highly likely that blockchain won't go anytime soon.

There is a bitcoin wallet blockchain node that was launched into space late last year (2019) to orbit the earth in the stratosphere, out of any country's jurisdiction. Therefore can be used both for protection against manipulation and fraud, it's also immune to hacking.
For space transactions such as mars, moon or other future space travel it will be easier to use blockchain to facilitate transactions.

In developed countries such as Switzerland and Estonia, people have the option of paying taxes in cryptocurrencies, empowering blockchain.

In Liberland, a newly founded micronation the official currency is bitcoin. Even if the world tried they can't touch Liberland, let's move to Liberland y'all. There are no official residents yet, let's go be the first league of Liberland legends. The microcountry is about 7square kilometers, the world's third smallest country, just enough space for us don't you think? Or you could easily buy your own island. I know that I know that I have a couple of islands on my bucket list just waiting for me.😅

Blockchain cuts out the middle man, cutting down on mark up prices.
This makes it even more possible (easier) to buy properties, protect interlectual copyrights and so much more.

===X===

🕉️♾️☯️

Supreme love and light

Current constellation positions

Moon in virgo ♍
Mercury in Sagittarius
Venus in Scorpio

Neptune in Pisces

Jupiter, Pluto & Saturn in Capricorn

Mars in Aries ♈

Uranus in Taurus

Bless up!

Similar posts by Author also available at:

https://read.cash/r/KJPR007