I would estimate that by the year 2020 Blockchain will be a word which everyone within the western economy would be fully aware of, this is a revolution that is in ascension. Blockchain like the internet has it roots to an open source network. I think it is quite big, it is going to change how we run our day to day activities in our lives. It will be a catalyst of change
What is Blockchain.
The practical consequence […is…] for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate."
Ever wonder if your vote actually gets counted, or is your bread that is labelled fairtrade, is it really fairtrade. These are all the informations that you really don't how it is validated or verified. Blockchain is a system of digital information and digital property which is governed by the people, it is a decentralised approach to a systems, that allows data to be processed and veriferied by hosts of different people. it is non corruptable, the data cannot be duplicated nor can it be administered by a host or a third party. Bitcoin is just a software that is run on Blockchain that is just one of the functions that blockchain has to offer, there are limitless potentials and area of development within blockchain that can eventually start the next Google. or is it already become into Google. The possibilties are limitless, Data that is decentralised, is just one step, more will follow.
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