Bitcoin is a movement by itself, but it’s a force when
combined with Blockchain!
Shot out to Ne-Yo!
By now, you’ve probably heard of Bitcoin. Whether you’ve
been the unlucky victim of a Ransomware attack and been directed to pay up in Bitcoin,
or if you’ve been looking to further diversify your investment portfolio, you’ve
probably read or heard about the first “cryptocurrency” that is all the rage these
days. As of this writing the, the cost of one Bitcoin is approaching $17,000
USD. I’m no finance expert, but I’ve recently taken the plunge and invested, or should
I say traded, a few bucks for a few fractions of Bitcoin. Hopefully, I’ll
be able to retire off of my investment/trade in another 12 to 18 months! But, if not,
I’m still excited about Bitcoin and especially the technology that undergirds
it called BLOCKCHAIN.
I’m not going to go into the nearly 10 year history of Bitcoin
and Blockchain, there are plenty of web resources out there to fill you in:
I only want to convey my high interest and enthusiasm for
these platforms. The Blockchain in particular has the potential to revolutionize
human affairs in much the way the Internet did.
Particularly, Blockchain is defined as a:
"...ledger of facts, replicated across
several computers assembled in a peer-to-peer network. Facts can be anything
from monetary transactions to content signature. Members of the network are
anonymous individuals called nodes. All communication
inside the network takes advantage of cryptography to securely identify the
sender and the receiver. When a node wants to add a fact to the ledger, a
consensus forms in the network to determine where this fact should appear in
the ledger; this consensus is called a block."
A decentralized, secure, and immutable electronic ledger
can be used to verify information needed to complete transactions all over the
world, for much less than current rates charged by banks and other financial
intermediaries, and in much less time (minutes compared to hours, days, or even weeks).
But the Blockchain is not just a financial technology tool. It is currently being
tested to develop driverless vehicles, store government data, and host educational competitions.
Now, RIGHT NOW, is the time to get familiar with the way this
technology works, and to acquire the skills (i.e.- JavaScript, cryptography, Linear
Algebra) needed to develop applications that can leverage Blockchain.
Free (for now) Learning
Resources and Information:
So what’s
in this for the Brothers (and Sisters)?
I Googled “Blockchain and black people”,
and came across two very enlightening and very thought-provoking articles:
Two years ago, at the Atlantic, Kyle
Coward asked, “Why Are So Few Black People Using Bitcoin?”
Ed Dunn, via Medium, seeks to clarify the definition of “decentralization” as it relates to Blockchain, and states
that Brothers and Sisters are Blockchain pioneers.
Given the developing hysteria surrounding Bitcoin, and
the limitless potential of application for Blockchain technology, there is only
one appropriate action to take.
Like Spike Lee said...
***P.S.***
This YouTube video provides a good explanation of Blockchain,
that literally anyone can grasp:
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