Blog 2

 How the Block chain is changing money and business

The technology is going to have the greatest impact on the next few decades.

And it's not only big data, robotics, Artificial Intelligence (AI). It is digital currencies like Bitcoin. It's also called the block chain. Now, it's the most demanding technology in the world. As we know, we use internet of information. And when we send you an email or a PowerPoint file or something, it is actually sending us a copy. But when it comes to assets, things like money, financial transactions like stocks and bonds, loyalty points, sending you a copy is a not a good idea to use. If we send dollars, it is really important that other don't still have the money and no one can send it again. This has been called the double spend problem. But there are some problems in it, as they are centralized, it can be hacked which could have damages. 

Bitcoin is an asset, it goes up and down, and that should be of interest to you if you're a investor. Basically, it's a crypto currency. It’s not a fiat currency controlled by a nation-state. But the real pony here is the underlying technology, it’s called block chain. People around the world can trust each other and transact peer to peer. Digital assets like money to music and everything in between are not stored in a central place, but they're distributed across a global ledger, using the highest level of cryptography. And when a transaction is conducted, it's posted globally. They have massive computing power at their fingertips to  times bigger than all of Google worldwide.

Block is linked to the previous block and the previous block to create a chain of blocks. And every one is time-stamped, kind of like with a digital waxed seal. A lot of transactions, the seller don’t even need to know who you are. They just need to know that they got paid, and then this avatar is sweeping up all of this data and enabling you to monetize it.