BITCOIN IS MORE THAN A FINANCIAL BUBBLE

Bitcoin (BTC) has becoming in an important matter because some people have begun to make big fortunes out of it. In fact, age is not a problem to be rich, according to the BBC Erik Finman became a BTC millionaire at age of eighteen. Nevertheless, most people involved on BTC ignore the technology that supports it. Blockchain is the technology behind BTC which has a lot of uses in several industries, for example in finance, healthcare, airlines, or legal industry.

Nowadays, financial authorities as the Securities and Exchange Commission are worried about the negative consequences for investors if BTC price goes to $0. But, you don’t need to worry about it if you are a Blockchain believer. Matt Lucas an IBM engineering said this technology will changes the world as internet did, in fact the benefits of Blockchain are: time reduction for finding information, costs reduction on transactions and improves in business.

You can find the easiest application of Blockchain technology in social networking. According to Bloomberg Steemit is a website that pays users for using it. Using Steemit is so simple, the first step is creating a username and the second step is writing about any topic. Steemit works like Twitter but the main difference resides on the payment system. You receive an amount of digital money called Steem in return to your new content. In addition according to Bloomberg Blockchain and the smart contracts transforming the legal industry. The lawyers can use smart contracts in order to save time, reduce costs or pay employees services. How are smart contracts supposed work? The main idea is that you can trust this technology and you can search any legal contract anytime in the future without any modification. Furthermore, according to Reuters Singapore airlines have been investing a lot of money in Blockchain technology in order to give customers a different way to spend their flight miles. They can change their miles for other types of money.

In other words BTC is an asset that uses the Blockchain technology in order to do efficient transactions with low cost. However, Blockchain has a lot of applications in several industries. The uncomfortable fact is that we need to wait for the development of this technology. In fact, if you bought bitcoins you would need to wait a long time to get rich.

Finally, as mentioned before the Blockchain technology changes the meaning of BTC. People need to know BTC is not just a quick way to get rich. People would be disappointed if they invested without Blockchain knowledge. My advice for you is improve your Knowledge in BTC and hold the money for a long time to earn a lot of money. Because BTC and Blockchain may change the future.