Well it took a cocktail of one man (Satoshi Nakamoto) + only 1 Decade of time to push the world, centuries ahead in the future. Lets welcome the new drink in town “Blockchain”.
From payments, finances, logistics to healthcare, data privacy, gaming or P2P, you name it and there is something or the other in store for blockchain to change how the current process used to work. Now a common man also have a say when it comes to building corporates, after a very long time the community have a voice due to its decentralized nature. Its an era of “Ideas”.
In the past decade we have seen so many idea coming to life without depending on VC’s or Angel investors to inject money in a startup. Its more like community saying to the entrepreneur “You go ahead and build — and we will back you in your vison”. Truly a Team spirit that involves hundreds and thousands of community members supporting a team to build something extra-ordinary.
So now no idea has to die, just because of lack of funding, Now we can have multiple Apple being started from a small garage. If your idea has the power to change the world- Blockchain and a smart community are the ingredients.
“A young population, high mobile connection penetration and well-established infrastructure are the main drivers contributing to the accelerating adoption of blockchain and digital currencies”
Decentralizing away from governments and the control over people’s lives will likely be embraced by many and the social implications can be quite significant. One only needs to consider the spate of identity thefts that have hit the news in recent years. Handing the control of identification to the people would certainly eliminate such events and allow people to reveal information with trust.
In addition to giving the underprivileged access to banking services, greater transparency could also raise the profile and effectiveness of charities working in developing countries that fall under corrupt or manipulative governments. An increased level of trust in where the money goes and who benefits would surely lead to increased contributions and support for the needy in parts of the world that are in desperate need of aid. Ironically, and not inline with the public opinion, blockchain can built a financial system that is based on trust.
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