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voice and video calls,emails,pictures and instant massages travel directly from A to B
Miantaining trust between individuals no matter how far apart they are
when it comes to menwy, people have to trust a third party to be able to complete a transaction
Blockchain technology is challenging the status qeo in a radical way
By using math and cryptograpy
blockchain provied a open, Decentralied database..
of any transection involving value
Money,goods,property,work or even votes
creating a record whose authenticity can be varified by the entire community
The future global economy will move towards one of distributed property and trust
Anyone access to the internet can get involved blockchain transection
and third party trust organisation may no longer be necessary
The uses of blockchain technology are endless
Some expect that in less than 10 years it will be used to collect taxes
It will make it easier for immigrants to send money
and back to countries where access to financial institutions is limited
Financial fraud will be significantly reduced
as every transaction will be recored on a public and distributed ladger
which will be accasable by anyone who have internet connection
Think of it as will and contracts that execute themselves
or dated proof of existence for ideas,much like a patent
blockchain will become a global decentralised source of trust
but not everyone is ready to embrace it
a huge proprotion of trust services,from banking to notaries,will face challenges on pricem volume and in some cases their very survival
public authorities could find it more and more difficult to enforce traditional financial regulations due to the new ossibilities offered by the bitcoin network to bypass traditional financial intermediaries
unimagined new networks will evolve to meet society's needs more chaply and potentially more securely
Now, will governments,financial & legal institutions embrace blockchain ?
what will happen to the ones who don't
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