How blockchain technology is changing society
We are inside a revolution without realizing it
Blockchain technology has the potential to increase efficiency, reduce costs, increase transparency, and provide greater freedom and control to individuals in various aspects of their daily lives. It is already being used in a variety of industries and applications, but the sensation is that we are at the start of the story.
The first blockchain was built in 2008 (by the mysterious “Satoshi Nakamoto”) as a distributed ledger technology to support the digital cryptocurrency called Bitcoin. It was a public blockchain, which means that it is open to anyone who wants to participate in the network. This public blockchain allows anyone to send and receive Bitcoin, and it is maintained by a network of decentralized nodes that work together to validate and record transactions.
Since the creation of the first blockchain, many other blockchain-based platforms and applications have been developed for a wide range of industries and use cases. The underlying technology has evolved to support more complex applications and use cases, and cryptocurrencies are just one of the ways blockchain is changing our society, let’s see them.
