Bitcoin and the Blockchain technologies are transforming everything through decentralization. Bitcoin is the first successful, electronic, decentralized currency. I’ve seen it called Internet Money! You just need a Bitcoin wallet and some education about cryptocurrency basics.
A new Internet is being built on top of this Blockchain technology as well. Servers are decentralized in that they are on your computer, tablet, or phone! These apps have the DNS info, credentials, and server information stored locally on your computer.
NameCoin is even one company that is using the Blockchain to decentralize DNS itself. I think that is pretty cool.
That is how incredible and powerful the programming languages have become. That’s why this topic fascinates me so much. Studying the cryptocurrencies has led me to make the blog that I call the “Blockchain Apocalypse”. That is also why Regal Assets now has a Bitcoin IRA site open here.
The Blockchain stuff has gotten me focused away from precious metals lately, to be honest. I like cryptocurrencies because they circumvent the totally corrupt central controllers.
The frauds and scandals that have come to light in recent years are vast. We had the LIBOR scandal. This was when different bankers in different banks would collude to manipulate the interest rate that they charged each other when lending.
There have been multiple banks involved in gold price manipulations that have settled and paid mucho millions. Anyways, the point is the people are tired of the centralized stealing. This is why Bitcoin, Ethereum, and Ripple are gaining such wide spread popularity.
The Blockchain is also being used decentralize your personal information. There have been enormous hacks at Yahoo, Experian, and Target over the years, just to name a few. With cryptocurrencies, your information is kept local to your computer or phone.
Your personal data is behind a sophisticated encryption technology. This is being used to revolutionize international bank transfers from person to person with the Ripple (XRP) cryptocurrency.
It is new and exciting stuff. But, it’s tough to predict whether something else is coming down the pipes ready to overtake this soon, too.