What is blockchain ?

Modern technologies allow individuals to communicate directly across the world. Calls, video conferences, email, media and instant messages travel from point A to point B, which maintains trust between people no matter how far apart.

When it comes to money, individuals have to go through a trusted third party (a bank) to complete a transaction; as a result all personal and confidential data is in the hands of a single entity which gives them full control and power over their network.

Blockchain technology is revolutionizing the ways in which we transmit our data using cryptography according to an ethical philosophy.

The Blockchain provides a decentralized, transparent and secure database, it allows the transfer of values, goods, property, message ... and any type of data. Creating a database whose authenticity can be verified by the community.

The future of the global economy will turn towards a distribution of property with confidence without intermediaries; Anyone with internet access can access a blockchain network, regardless of their financial, social or geographic location.

The use of Blockchain can be applied in a variety of fields. Community estimates say that blockchain usage will be daily in 10 to 20 years. This will facilitate the population's access to finance in countries where access to the banking system is difficult and / or highly regulated, even sometimes corrupt. Financial fraud will be considerably reduced thanks to transactions written on the blockchain in a permanent, transparent and secure manner.

Some blockchains (such as the Ethereum blockchain) also allow the creation and automatic execution of smart contracts (Smart Contracts) amounting to performing several actions in a transaction for, for example: depositing liquidity on a protocol, proving authenticity, performing an exchange and lots of other use cases.

Blockchain will become a decentralized global source of trust, but not everyone is ready to embrace it. A large proportion of financial or other services (Cloud, Social Networks, etc.) that have trusted it today, will have to adapt to this new, healthier system in order to survive.

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Matissime Written by:

15 years old, passionate about new technologies and defender of privacy rights on the internet, I try to make as many people as possible aware of the challenges of new technologies on the future in our society by explaining the problems and giving ethical solutions and has great potential!

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