Blockchain Technology Will Reshape Our World
In this article we will talk about how blockchain technology will reshape our world and what happens to our lives because of the blockchain. And no doubt this time, blockchain technology has opened the door to a new world.
The technology behind Bitcoin allows people who do not know each other to build trustworthy books that goes well beyond encrypting the digital currency itself.
Ms. Mariana Catalina Izaguirre has lived in her rudimentary house for thirty years, but police in Honduras suddenly kicked her out in 2009. Unlike many of her neighbors in Tegucigalpa, Tegucigalpa's capital, Honduras, she actually owned the land voucher for the home she lived in. However, the records of the State Property Office show that another person also registered the house, and the person persuaded the judge to apply for the deportation order. Although the court finally made it clear that the real owner of the house was Ms. Izaguirre, Ms. Izaguirre's house had been demolished. This kind of thing is not uncommon, happening every day. Because land registries have little, no mismanagement or even corruption of information - it can be said in many parts of the world. Lack of security of property rights is a source of insecurity and unfairness. It also makes it hard to use the house or piece of land as a mortgage, investment and venture capital.
Bitcoin seems to be a good solution to these problems, and Bitcoin is a digital currency based on a clever encryption algorithm that has loyal followers among the wealthiest, anti-government and occasional criminal geeks. The bitcoin encryption technology is called "blockchain," and the specific application of the blockchain goes far beyond cash and money. It provides a way for people who do not know one another to create asset records that everyone can see. It is the defender of truth. That's why the Honduran government sees blockchain technology as politicians have sought the start-up American firm Factom to provide land registry prototypes based on blockchain technology. Greece also expressed its interest in the idea that it does not have a reasonable land registry and that only 7% of the country has a correct record. .
Other Blockchain Applications From Diamond Thieves to Streamlined Stock Markets: The Nasdaq Stock Exchange will soon begin using blockchain-based equity trading platforms to record private-equity transactions. Bank of England has always been conservative, do not like to accept emerging technologies, but this seems to be touched: a bank study late last year pointed out that distributed books is the financial sector has a "far-reaching impact" of "significant innovation."
A politically-minded guy sees the future of the blockchain. This year's OuiShare Fest conference in Paris (OuiShare Fest is the annual global economic cooperation conference), partners and left-wing elements gathered together, they talked about grass-roots organizations will shake the huge database like Facebook, blockchain topics throughout the meeting . Liberals Dream More and more government regulations around the world can be replaced by private contracts between individuals, and contracts based on blockchain technology can automatically enforce the rules.
Mathematical accounting of the world will be far from human manipulation, which will bring a lot of benefits. Ms. Izaguirre will no longer suffer the scourge of forcible demolition; other unfair places will become better. If there is a fundamental contradiction in the blockchain, it is that it stores cryptographically unchanged pasts and now, but ultimately brings us us to a different future.