Bridging the gap on how it all started.
Think of a world without smartphones. It’s almost impossible to imagine a world without our android devices buzzing with the latest notifications. Yet, here we are today, March 7 2018. This is the new normal. A new world, the digital world where most of us have a digital identity online.
The progression of technology has been increasing at a mind blowing rate. Think iPhone, a small portable handheld computer , which serves as an extension of ourselves, connected to the internet, the digital world. 11 years ago today, Steve Jobs introduced this revolutionary device that served as the breeding ground for our blazing fast super connected digital world.
Fast-forward today, corporations have huge sums of data that we freely provide using our smartphones, more specifically using apps on a daily basis. Gender, Age, postal code , frequently visited websites, travel , health information and so on. It’s all on our personal devices which is an extension of ourselves. The Digital you connected to the Physical you connected to the internet.
Here’s why blockchain matters going forward. The information gathered on smartphones is in the hands of a central party, wether it be Facebook, Google , Amazon or any other software and technology company . The traditional way of doing business between people has always been as follows : To settle with a third party. This model has been repeated throughout history.
Today, this is about to change. Rather than a record existing in one single location the “traditional” way. The blockchain is a distributed ledger for data which is stored on a global network of computers that validates entries “transactions” the ledger in a trust-less setting. Built into that distributed ledger is a consensus mechanism that allows anyone to transact and do business with one another without the need for a third party intermediary. We’re going from the internet of information to the internet of value where real tangibleassets are tokenized in the digital world.
The blockchain’s potential is limitless. This technology alone will bring a new wave of innovation for our world and i am excited to be part of it.