I’m going to attempt to explain these topics in “non-technical” terms. Well rather, as “non technical as possible” terms. Given the subject I may have to throw in some mumbo jumbo. Now, my understanding on this subject has come from online videos, articles, and discussions with friends. Consider my stance a formally uneducated one. If anything is wrong in this article please do not hesitate to call me out, so I can clarify my understanding!
Sooooo, since you are all reading this on a website that uses block chain technology and has its own built in cryptocurrency, I’m going to assume you already understand what it is. So I guess this section is for those who are entirely unfamiliar with cryptocurrencies!
Today, when you want to buy something. You usually pay with paper money or with a credit card (which represents the paper money that you have). That paper money is not backed by anything tangible, just people’s faith in it. In essence, it’s a fancy piece of paper with some dweeb’s face on it. It used to be back by gold, but that all ended in 1971-73 when the U.S. decided to wean itself off the gold standard. What was the reason you might ask?? That’s up for debate. Now what we have is a “Fiat” monetary system.
Fiat money, is money that is not backed by anything in particular. It’s an entire system based off of the notion of “It’s legit because I say it’s legit”. Not only that. But people can move this money about on their own accord without anybody else knowing AND it is just printed from a machine. Pretty convenient system for those who own those machines don’t ya think?
^I assume the Federal Reserve looks something like this^
This is where the all mighty cryptocurrency comes in. You see, cryptocurrency comes into existence through a process called “mining”. Think of it like mining for gold… except gold is an algorithm. And instead of a pickaxe, you are using a computer. Once you mine the gold (find the answer to an algorithm). You are rewarded with a little chunk of gold. And a bigger chunk of gold gets released to the society. Most, but not all, cryptocurrencies have a set amount of gold(algorithms) that can be mined. Which prevents inflation. Cool!
Another beautiful thing about cryptocurrencies is, ALL transactions are transparent AND stored indefinitely on a ledger that can be accessed by anyone, at any time. This is what is called a “Block chain”. A block chain is a recorded chain of blocks of information that are readily, and instantly, accessible by anyone. So during WW2 when Hugo Boss was making the uniforms for the Nazis, we could all see that and boycott Hugo Boss for being pricks. It brings back a sense of responsibility to corporations to spend their resources wisely, or they will likely suffer the consequences appointed by their peers.
Crypto-Platform
I’m kind of making this term up. I think it does a good job at helping to understand the significance of block chain technology. So in the same way cryptocurrency can revolutionize our monetary systems. Taking the idea of this “block chain” and applying it to other sectors of civilization, is equally as revolutionary.
One company that is doing a fantastic job of applying this technology is Steemit! Steemit Is decentralizing social media. This is important for a number of reasons.
^Coincidence? I think not!^
Another incredible company that is pushing the envelope of this technology is Ethereum. Ethereum is taking cryptocurrency to an entire new level. Instead of just saying “here is a crypto currency, figure out what to do with it” they have created a platform in which anybody can create decentralized applications. The base currency for these applications is a cryptocurrency called “Ether”. Like Bitcoin, "Ether", is a cryptocurrency. Unlike Bitcoin, Etherum has presented us with a platform for creating an entire ecosystem in which the "Ether" can be spent.
What the fuck are you talking about? So let me try to explain this. What were the core ideals that created the United States as we know it today? I think they are pretty well outlined in the Constitution. So, What went wrong? The only thing backing the constitution was a bunch of greedy humans. How do we fix this problem from constantly reoccurring? Imagine a new constitution, where the rules are clearly outlined and coded into a computer. If somebody were to try and stray away from the rules of this new constitution, the computer simply wouldn’t allow it. That is the power of these technologies. It could potentially eliminate the possibility of corruption in all sectors of society.
Now before you go full Terminator on me, remember this. A computer can only do what we program it to do. Plus, if shit did hit the fan... we can always pour some water on it. Assuming there is still water on the planet by the time this technology gets fully implemented. I guess there is always spit.
^Ethereum logo, lookin all sweet^
Idk. The end.
Just kiddin.
Check this out… Does it annoy you that you have been brought up in a society that makes it EXTREMELY difficult to flourish? I mean, if you grow up poor, chances are, you’re going be poor for the rest of your life. The reason? There are centralized institutions in place that keep wealth stagnant AND directly profit for keeping the masses dumb and poor. How the fuck did this happen? What if your life could be improved based on your qualities and skills alone, regardless of circumstances? Well, doesn’t that sound just airy fairy.
Do you think it is annoying that you are constantly fed this stream of shitty music and celebrity gossip, that can actually make you feel like you are devolving from the mere act of observing? Through the current system, we have created a culture that financially rewards stupidity. Stupidity means attention, attention means money. There is currently an incentive to be as idiotic as humanly possible. Can we end this?
This is the reality that is possible through decentralizing the internet, currency, government, and implementing block chain technologies. Through the proper implementation of block chain technologies, we could usher in an entire new era for humanity. One where wealth can be accrued, instantly transferred, and properly stored by anybody. It would provide an incentive to cultivate the more positive aspects of humanity.
With this technology we could create a truly representative democratic society, where everybody’s opinion counts, and all votes are transparent. The possibilities are endless! What an interesting time to be alive. This is some exciting shit!
~feels~
