Blockchain technology has been around for about 12 years, growing in the last 3 years by leaps and bounds. In today’s reflection, we are going to go a little beyond Bitcoin, analyzing if the Blockchain is a business for everyone.
Undoubtedly, the Blockchain is part of the fourth industrial revolution, like Artificial Intelligence, Robotics and Big Data. They are technologies that have come to change the way we do things, as simple as that.
Many times I read articles in different newspapers around the world in which they explain these new technologies in a very complicated way, the idea of this post is simple: Understand why Blockchain is a business for everyone.
Blockchain, the revolution of the 21st century
Surely by now you will already know what Blockchain technology is about, but it does not hurt to refresh what it is and what it is for …
The Blockchain is a large decentralized database for storing information. In short, it is a great Excel, where you can store whatever you want on different computers in the world (nodes).
Without the Blockchain, cryptocurrencies would not exist, since it is the technology that gives life to this new concept of transferring value. The Bitcoin Blockchain is the most important, and the one with the most nodes around the world.
There are other relevant blockchains such as Ethereum, which has the capacity to store smart contracts, which is nothing more than an automated programmed function to comply with a certain process if one or more conditions are met.
It is important to understand the Blockchain as the soul of the new technology to transfer values and information. It would be like the operating system to put it more simply.
You can have the best computer in the world (Bitcoin), but without an operating system (Blockchain) it could not work.
Is it a good time to get into the Blockchain business?
Personally, I think we are in day 1 of the Blockchain business, the blinds are just being raised. Between now and the next 3 years will be great moments to enter the world of Blockchain, since the opportunities are and will be just around the corner.
Although one of the main uses of Blockchain is for cryptocurrencies, a market that already moves more than 320,000 million dollars, it has other purposes such as value transfer.
The key to the Blockchain business is to select in which projects to invest our money. There are those who go with everything to Bitcoin, others to Ethereum, then projects with a future such as Binance, among others. In addition, you can enter this world through companies that are listed on the stock exchange and are linked to this sector directly and indirectly.
For example, Amazon has several initiatives with Blockchain, as does IBM. Or, banks like Santander that have tested Ripple for the transfer of value.
- If you are just taking your first steps, the best advice I can give you is to train yourself and learn everything you can about the Blockchain.
- Take action, invest something, even a dollar. Get started, take that step.
- If someone offers you to get rich or secure profits, run away. It sure is a scam.
I say goodbye until next time with this phrase from Albert Einstein:
“In times of crisis, only imagination is more important than knowledge.”