Blockchain technology has been around for 12 years, growing in these last 3 years by leaps and bounds. In today’s reflection, we are going to go a little bit beyond the Bitcoin, analyzing if the Blockchain is a business for everyone.
Without a doubt, the Blockchain is part of the fourth industrial revolution, like Artificial Intelligence, Robotics and Big Data. These are technologies that have come to change the way we do things, as simple as that.
Many times I read articles in different newspapers around the world that explain these new technologies in a very complicated way, the idea of this post is simple: Understand why the Blockchain is a business for everyone.
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Surely by now you know what the Blockchain technology is all about, but it’s worthwhile to refresh what it is and what it is for…
The Blockchain is a large decentralized database for storing information. In short it is a great Excel, where you can store what you want in different computers in the world (nodes).
Without the Blockchain there would be no crypto currencies, since it is the technology that gives life to this new concept of transferring value. Bitcoin’s Blockchain is the most important, and the one with the most nodes around the world.
There are other relevant blockchains such as the Ethereum, which has the capacity to store intelligent contracts, which is nothing more than an automated programmed function to comply with a certain process if one or more conditions are met.
It is important to understand the Blockchain as the soul of the new technology to transfer values and information. It would be like the operating system to say it in a simpler way.
You can have the best computer in the world (Bitcoin), but without an operating system (Blockchain) it could not work.
Is it a good time to enter the Blockchain business?
Personally I think we are in day 1 of the Blockchain business, the blinds are just being lifted. From here to the next 3 years will be great moments to enter the world of the Blockchain, since the opportunities are and will be around the corner.
Even though one of the main uses of the Bitcoin Evolution is for cryptomoney, a market that already moves more than 320 billion dollars, it has other purposes as a transfer of value.
The key of the Blockchain’s business is to select in which projects to invest our money. There are those who go with everything to Bitcoin, others to Ethereum, then projects with a future like Binance, among others. In addition, you can enter this world through companies that are listed on the stock exchange and are linked to this sector directly and indirectly.
For example, Amazon has several initiatives with Blockchain, as does IBM. Or banks like Santander that have tested Ripple for value transfer.