The Blockchain is Bigger Than Bitcoin

blockchain change my mindIn the eyes of my grandfather, YouTube is the entirety of the internet.  He doesn’t read/send emails, he doesn’t have an Instagram account, and he has never trolled anyone on Twitter (his soul is much too pure for the likes of Twitter).  But the ability to search for any song from his youth, and in a matter of moments be transported to a different time and place, is not lost on him.  He is aware that there are many other uses of the internet, but he has yet to open his mind to the possibilities.

Once we grasp that blockchain technology is bigger than just Bitcoin, then we can understand and embrace its potential and power.

This article explores Ethereum (the second largest cryptocurrency by market capitalization), and how it utilizes the blockchain differently than Bitcoin.

The blockchain is a ledger; an open source, public, immutable, and indelible digital ledger.  This ledger can be used to record and track all kinds of data; in the case of Bitcoin, the blockchain is recording transactions.  But that is just the beginning.  In the near future medical records, accounting (triple-entry accounting at that; accountants everywhere rejoice!), voting, and proof of ownership are just a few of the areas that will be disrupted and improved upon by the addition of blockchain technology.

It is imperative that we keep an open mind to the possibilities or risk missing out on all that it has to offer.

And if you are in need of recommendations for gospel music from the 1950’s on YouTube, I know just the guy to help you out.

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