The Blockchain Disruption imagines e-commerce powered by dispersed digital ledgers. Bitcoin is the best known “dispersed digital ledger.” When transaction information is “in the cloud,” dispersed, and understood from many angles interesting things happen. s
Find the infographic on BlockchainHub.net.
“Not redeemable” is a common blockchain objection. The objection seems foolish since the American dollar isn’t “redeemable” either. Money works because we collectively agree money has value.
The “it only exists in the network” objection sounds foolish too. More and more everything only exists in one network or another. Sun Microsystems John Burdette Gage was right. The network is the computer.
Finally, and this may be the most absurd objection in a bunch of crazy ones, no central bank controls a blockchain. After the meltdown of 2008 where central banks almost created anothe depression, “Less is more,” feels right.
The Blockchain Disruption
Blockchain makes fraud all but impossible.When our transactions are digital, verified, and discoverable fraud is almost impossible.
Yes, Bitcoin has been famously hacked. Bitcoin’s growing pains don’t invalidate the point. Stealing from a multi-point, distributed and verified network is almost impossible.
When there is a single blockchain – Bitcoin – massive amounts of hacker energy goes into finding the exception to the “no fraud possible” rule. Once blockchains are everywhere and Bitcoin’s many lessons shared, digested, and incorporated stealing from a multi-point distributed networks will all but cease.
In multi-point systems, the weakness or failure of one node doesn’t break the chain. And the strength of the network works to correct any node weakness.
Blockchains Aren’t Just For Bitcoin Anymore
Rich, targeted and current information easily available makes the Internet of Things (IOT) possible, Imagine how websites will change when we know all the information blockchains provide for every visitor.
Think we live in the land of algorithms now? Blockchains mean using predictive analytics to organize a website’s presentation to assure conversion. And if that last sentence sounded like an algorithm at work you’ve got it.
Websites won’t be a scrum of items customers don’t care about but are forced to sift. Blockchains will make digital experiences more efficient, meaningful, and rewarding.
How do you think blockchains will disrupt your industry? Read Blockchains Will Disrupt Every Industry in the Huffington Post for more. The Blockchain Explained on the Marmelab blog is a good read too.
The Ethereum Ecosystem is also a good read for how blockchain could disrupt contracts and supply chains.
The more we thought about blockchain the more David Amerland’s What If We Had A New Values System for Goods and Services came to mind
Six blockchain inforgraphics.