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Samuel Stokes
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Samuel Stokes   My Press Releases

Blockchain: The Magic Behind Bitcoin and All Other Cryptocurrencies

Published on 11/19/2017
For additional information  Click Here

                                   Blockchain: The Magic Behind Bitcoin and All Other Cryptocurrencies

 

Blockchain: The Magic Behind Bitcoin and All Other CryptocurrenciesBlockchain: The Magic Behind Bitcoin and All Other CryptocurrenciesI know a lot of people are looking at Bitcoin, Pumping up super high in price...

Thinking...  IT'S A BUBBLE! ... IT'S GOING TO POP!

But I want to give you 3 reasons Bitcoin will always increase in value... 

Firstly, 

Unlike dollars, Bitcoin is a DEFLATIONARY currency... 

There can only ever be 21 million Bitcoins ever created, and they get harder and harder to create every day!

Secondly, 

There are more millionaires in the world than there are Bitcoins...

If every millionaire wanted to own one Bitcoin, they are going to have to fight over it!

Lastly,

Bitcoins take work to create, and that work is what backs the value of Bitcoin...

Bitcoins are created through a 'mining' process, where computers are needed to perform work to calculate and verify all Bitcoin transactions worldwide...

This sort of work uses a lot of electricitycosts a lot of time, and money, therefore, it adds REAL value to Bitcoin..


And there you have it, 3 reasons that Bitcoin will continue to increase in value well into the future. 

 

Here's a short video on Blockchain Technology.  This is what's behind the curtain.

 

 

5 Ways Blockchain Will Change Non Monetary Transactions

 

1.Real Estate

 

Land is one of the biggest sources of wealth in the world.

 

But an estimated $7–$9 trillion worth of land is “locked up”

due to poor recordkeeping and archaic land registries.

 

The blockchain will change all that...

Today, buying and selling real estate is a lengthy process...

 

Most people need to hire middlemen such as brokers, inspectors,

appraisers, notaries, and so on to get a deal done.

The blockchain will eliminate the need for these intermediaries—

and all their paperwork—by assigning each property a digital address.

 

The address will contain the property’s entire transaction history

and update it in real time.

The blockchain will also allow people to create “smart contracts.”

 

Smart contracts are computer protocols that execute and enforce agreements.

 

Since cryptocurrencies are “programmable money,” they can be added to a

smart contract to automatically pay the first month’s rent or fund escrow

accounts... reducing costs and saving time.

 

Cook County (home to Chicago) is already experimenting with the blockchain.

 

The county is working with startup Velox.re to test the blockchain

for recording and transferring property titles and tax liens.

 

2.Healthcare

 

Healthcare in the U.S. is an estimated $3.5 trillion industry.

One challenge the industry faces is finding a way to protect

and share private patient information.

 

Last year, health insurer Anthem’s database was hacked.

 

Nearly 80 million people had their personal information stolen.

 

Several blockchain companies are already working on a solution to protect

sensitive medical records.

 

One is MedRec...

 

it’s testing a blockchain-based records system.

Instead of saving patient information in a centralized database as

Anthem did, MedRec gives each individual patient a log of their own medical records.

 

Patients can then choose to release their information to doctors,

insurers, or researchers.

 

The blockchain will give patients complete control over their medical records—and privacy.

 

3.Music Recording Industry

 

Today, the blockchain is starting to disrupt the $15 billion music

recording industry.

Like other industries, recording artists have to deal with a myriad

of intermediaries (like agents and distributors) to

get their music to the public.

 

The internet has made it easier for artists to disseminate their music.

 

But they still lose an estimated 86% of the money their music

makes to third parties.

 

(And that doesn’t include “pirating” of their songs.)

The blockchain will put artists back in control of their music.

For instance, U.K. singer-songwriter Imogen Heap has partnered

with a company called Ujo.

 

Ujo created a blockchain-based platform artists can use to

be paid directly for access to their content.

Last year, Imogen debuted her song “Tiny Human” on Ujo.

 

Not only can users buy the song...

 

they also can buy the track’s key, tempo, and stems with digital money.

 

Proceeds are then distributed to all involved in making the music,

including singers, producers, writers, and engineers.

 

4.Voting

Anyone following the U.S. election has heard Donald Trump’s concerns over

“large-scale” voter fraud.

 

While many have said his concerns are unfounded,

it brings back memories of the 2000 election

and the “hanging chad.”

The blockchain will make voter fraud virtually impossible.

A company called Follow My Vote has created a blockchain technology

that allows you to securely and privately vote from your smartphone,

tablet, or computer.

 

It also features state-of-the-art ID verification.

Because of its immutability, the blockchain can’t be hacked...

 

so the vote count can’t be tampered with.

 

And it automatically tabulates the vote without any human intervention.

 

In addition, the new tech allows you to check your

vote to make sure it was counted.

 

5.The Internet of Things (IoT)

 

Cisco predicts the global IoT market will be over $14 trillion by 2022.

 

That’s a lot of money sloshing around...

 

and another opportunity for blockchain technology.

[The IoT is the point where nearly every device we use today

 

(dishwashers, automobiles, even your garage door opener)

 

will be connected to the internet.]

 

 

IBM is at the forefront of IoT and blockchain technology.

 

It’s building a “proof of concept” called Autonomous

Decentralized Peer-to-Peer Telemetry (ADEPT).

ADEPT uses Bitcoin’s underlying blockchain design to create a

ledger of existence for billions of devices.

 

Each device on the system can autonomously talk to its peers.

IBM is already testing use cases for ADEPT...

 

It’s partnered with Samsung to make the AW9000 washing machine.

 

Using ADEPT, the Samsung washing machine was able to reorder

detergent and service parts, and control how

much electricity it used.

 

We’re in “the Early 1990s Internet” All Over Again...

 

Today, the blockchain is at a similar point to where the internet

was in the early 1990s.

 

Remember, many people didn’t see the significance of the internet at first.

Member Note: To comment on this PR, simply click reply on the owners main post below.
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