The Value of Blockchain

bank safe dialAre you old enough to remember when backups to your laptop were a huge headache? Do you remember your joy when you were introduced to using the cloud for computer backups? A huge burden had been lifted from your back.  No longer would you be required to find gigabytes of free space to make copies of your data on an external hard-drive.  No longer would you have to worry about whether the backup copies of your keychain passwords would work.  No longer did you have to spend hours on the phone with various application company tech support specialists explaining why the backup to their software was necessary but the passwords no longer worked.

More recently I remember having to run iTunes with my iPhone connected to my computer so that the phone would be backed up “automatically.” Today, iCloud is a little more “automatic.”

If you experienced any of this, then you can appreciate what it means that blockchain frees you from the tyranny of security, fraud, and theft of your valuable data. Having data in a blockchain means that you no longer need to worry about whether the data has been tampered with.  You no longer need to worry if the data is original.  You no longer need to concern yourself with whether or not the data has been edited or modified in any way since you received it.  That’s huge.

Having blockchain means you can meet a perfect stranger on the street, transact any sort of financial transaction or the exchange of goods and services, and be confident that the transaction will be recorded, held secure into posterity.  The value of the currency you gave or took, the integrity of the information you divulged or accepted, is now and will be just as secure.  That’s is worth a fortune.