Bitcoin was born out of the financial crisis of 2008, which was, for many, the first time we realized how unstable our entire financial infrastructure is. One mysterious coder, who went by the name Satoshi Nakamoto, thought he (or she, or they) had a technological way to bypass those unwieldy institutional systems. Nakamoto posted a research paper on November 1, 2008, outlining an idea for a new digital currency. The concept eliminated a middleman, like the government or a bank. No need to trust an institution to take care of your funds or a government to decide the value. No one person or entity would be in charge. Instead, a network of hundreds or thousands of computers would run special bitcoin software, linking them together into a “distributed ledger” called “the blockchain.”
Blockchain is the next evolution in how we’ll do business. It will bring us back to direct one-to-one trade by using decentralized technology. Eventually, humans will be taken out of the picture entirely, and the machines will be left to trade between themselves according to the rules we give them. We won’t need to trust or even know the humans on the other end of any transaction. Read more...BitcoinDiamondMines Blog : Understanding Blockchain Technology Potential Beyo...: Blockchain can help guard against election fraud, because the decentralized nature of its transactions means they cannot be altered after ...
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