CryptoCoinsInfoClub.com

How Cryptocurrency Can Change The World

How Bitcoin And Blockchain Will Change The World

How Bitcoin And Blockchain Will Change The World

How bitcoin and blockchain will change the world Digital currencies are the future of money, but bitcoin probably isn't the ultimate winner. Bitcoin climbed in value from less than $1,000 at the beginning of 2017 to $14,000 by the end of the year. A coin of Ethereum was worth $8 on Jan. 1, 2017, and $843 one year later. Who would not be intrigued with the idea of owning something that appreciated thirteenfold, or even a hundredfold, in one year? Even the least sophisticated investors are wondering if cryptocurrency is a real thing or just a bubble of speculation. The real revolution is not the currency but the system that supports it. Digitization and commercialization of trust In the late 1990s, many were sucked into the dotcom bubble as the internet revolution brought unimaginable valuations to businesses with a technology bent. But the companies themselves were not as valuable as the platform they were all being built on: the internet. Cryptocurrencies like bitcoin and Ethereum are no different; they are the shiny objects capturing everyone's attention. But the real industry changer is blockchain, the technology they are built on. Why? Because just as the internet digitized geography and made the world smaller, blockchain does something unimaginably valuable: it is the digitization of trust. It makes transactions trustworthy and safe. Here are some questions to consider in the emerging world of digital logs: 1. Will digital currencies dominate the future? Digital currencies are absolutely the future of money. However it's unlikely that bitcoin is the ultimate winner. Regardless of the coding oddities that make it an inefficient vehicle (the mining code used makes it a colossal waster of electricity and processing power), the idea is simply too big for one platform t Continue reading >>

Bitcoin, Blockchain And Cryptocurrencies Will Change The World, Says Drw's Wilson - Finance News - Crain's Chicago Business

Bitcoin, Blockchain And Cryptocurrencies Will Change The World, Says Drw's Wilson - Finance News - Crain's Chicago Business

DRW's Wilson expects bitcoin will change the world DRW Holdings founder and trader tycoon Don Wilson made a rare public appearance in Chicago to plug one of his company's growing interests: crypto assets. His mission: to explain why these holdings, including cryptocurrencies like bitcoin, are important and "will change the world," he told about 200 people gathered yesterday for a CFA Society Chicago luncheon in downtown Chicago. DRW has become one of the world's biggest market-makers in what Wilson called a $400 billion market of crypto assets. Through DRW's Cumberland unit, the firm trades in 30 of the top crypto assets, based on market capitalization, with counterparties in 35 different countries. While bitcoin is the biggest cryptocurrency, the firm is active in others like ethereum and assets such as iota. Among his predictions, some of them in response to questions, Wilson said there likely will be more regulation of the market, partly because manipulation is a concern; cryptocurrencies do potentially pose a threat to the central banking system; and they are "unlikely" to replace standard government-issued currencies. Wilson began trading in the eurodollar options pit of the Chicago Mercantile Exchange, but moved off the trading floor to build one of the biggest high-speed trading firms in the city, with some 800 employees, and a broader enterprise that invests in real estate and startups. When Wilson was asked whether central banks should feel threatened by cryptocurrencies, which aren't controlled by any central bank or single government entity, he suggested maybe they should be. "Certainly, this idea of being able to control monetary supply, control inflationall of this is completely undermined if there were widespread adoption of cryptocurrencies," Wilson said Continue reading >>

How Bitcoin Could Change The World -- Even If It Crashes

How Bitcoin Could Change The World -- Even If It Crashes

How bitcoin could change the world -- even if it crashes The price of digital currencies like bitcoin, litecoin, ethereum, ripple and others have been all over the map in recent months, soaring over 1,000 percent before falling sharply amid government intervention in Asia. The get-rich-quick appeal of "cryptocurrencies" has everyone from flashy music stars and Hollywood actors to Wall Street and average investors climbing aboard the craze. Within what many experts see as a classic market bubble, however, lies a potentially revolutionary innovation. That technology, saddled with the unfaddish name "blockchain," could change everything from how people make payments online, to how countries fight corruption, to the very relationship between government and citizens. The upshot: If the price of bitcoin were to crash to earth tomorrow, blockchain would likely outlive it -- and continue to reshape the world in myriad other ways. "Blockchain is the technology, and bitcoin is one application of the technology," said Jen Schwartz, a senior features editor at Scientific American.  At its simplest, blockchain is a way of structuring data -- a framework. The creator of blockchain, a person calling themselves "Satoshi Nakamoto" whose identity remains anonymous, invented blockchain in order to create a currency that is independent from a central authority. But in the process, Nakamoto invented a way to securely transmit data in a way that it is indelibly recorded. "Blockchain technology can be used to keep track of and transact any data beyond bitcoin," said Schwartz, who edited the magazine's recent issue on the future of money . "The idea is that instead of intermediaries deciding if something is valid and keeping it secure, math and machines are taking on that role." To understan Continue reading >>

10 Ways Cryptocurrency Will Change The World11 Min Read

10 Ways Cryptocurrency Will Change The World11 Min Read

So now we know what a cryptocurrency is, let us move on to how cryptocurrencies will change the world. How Cryptocurrencies Will Change The World Faster and more cost-efficient bank transfers There is nothing more annoying than having to pay extortionate fees just to transfer money between banks, mainly if the transaction is a cross-border one. In honest terms, the way that banks still transfer cash is archaic – they can take up to a week, sometimes more and they involve clearing houses and correspondent banks making the process unnecessarily complicated. When using a cryptocurrency, all of these obstacles are removed, and both national, and cross-border transfers can be made instantly and without having to pay any fees. In fact, the technology used to facilitate the smooth transfer of cryptocurrencies – the ledger – can be used to transfer traditional currencies, in the same way, meaning that the need for banks involvement becomes somewhat obsolete. This technology means that series of transactions between foreign exchange traders can all be confirmed and enacted instantly and simultaneously. Did you know that every year, migrants from the third world and developing countries that have moved to western countries, send home over $500 billion in remittances to their families? This is a figure that far exceeds foreign direct investment, and with fees for international transfers between 6-10%, this is a tremendous burden on some of the world’s most vulnerable and less privileged people. Cryptocurrency and ledger technology can save them a fortune every year by allowing them to make instant and fee-free transactions. By using a digital currency, users could even send transfers directly via a mobile phone and only have to pay minimal fees on currency exchanges. With Continue reading >>

Cryptocurrencies: Will They Change The World?

Cryptocurrencies: Will They Change The World?

Cryptocurrencies: Will They Change the World? Cryptocurrencies are one of the hottest topics of 2017 in both finance and technology, but what are they? Cryptocurrencies, like Bitcoin, are a form of decentralized digital cash and can be used to purchase anything from a pizza to a car. There is no central regulating body to govern a cryptocurrency. Every single transaction or record made must be verified and confirmed by everyone else. For the user, this means transactions are fast, secure, anonymous, and irreversible. While there are many pros and cons to this system it is undoubtedly a marvel of technology. Cryptocurrencies were invented by the mysterious Satoshi Nakamoto, with the release of Bitcoin in January of 2009. Since then, cryptocurrencies have had a wild rise in popularity for a number reasons. To some they are seen as an untouchable store of value not unlike gold, while others believe a decentralized currency is the way of the future. However, the new startup trend in Silicon Valley is the blockchain technology behind it. Blockchains are a way to safely and securely store or transfer information. In the case of bitcoin, every transaction is stored in the blockchain and every peer on the network can view this blockchain. It is impossible for a hacker to attack a single location and corrupt or change any information in the blockchain, because it is verified simultaneously and continuously by everyone. To understand how this works, we need to dig into the name itself. The crypto in cryptocurrency comes from cryptography, the art of writing or solving codes. For a Bitcoin transaction to be confirmed, it must be validated by an algorithm. This validation is completed by nodes, which is the technical term for computers connected to the network. These computers, wh Continue reading >>

"bitcoin Can Change The World," Said The Former Us Senator Geekxplore.com

Senator and former Governor of New Hampshire Judd Gregg expressed the opinion that bitcoin would change the world attitude towards the currency as a whole. In an article published inThe Hill, Gregg described why people believe in bitcoin, how it can be used and what it can mean for the world economy,Coindeskwrites. Comparing bitcoin with gold, Gregg noted that the latter has value, because it is small and it is accepted by banks, while bitcoin is supported primarily by the faith of its owners.The main difference is that bitcoin is not the property of central banks, he wrote. Since bitcoin is not controlled by any nation, government or central bank, Gregg said: It sounds so good, as if it does not happen in our world.Bitcoin can completely change the scope of commercial transactions. If people have sufficient confidence that bitcoin has real value, then it can enter a new era, said Gregg, who will give him staggering potential and the opportunity to become a world currency. Nevertheless, Gregg also noted the importance of the dollar in todays global economy, saying that it is difficult to predict when the dollar will cease to be a major element of world trade. The comments of the ex-senator are not the first example of how American politicians support the technological and financial possibilities of crypto-currency and lock-up. Continue reading >>

Will Cryptocurrency Really Change Theworld?

Will Cryptocurrency Really Change Theworld?

Will cryptocurrency really change the world? You may be reading this and wondering, “What the heck is cryptocurrency? Shouldn’t I know about this thing that may or may not change the world?”. Right now, Bitcoin is the most used cryptocurrency — you are probably more familiar with Bitcoin. Cryptocurrency is a method of moving money securely over the Internet, and it can even be done anonymously if desired. Bitcoin does just this, it transcends identity and national currencies by establishing itself as a self-regulating worldwide currency. Cryptocurrencies can vary quite a bit; since Bitcoin is the current standard, I will use it to explain a type of cryptocurrency. Bitcoin was set in motion by one or more individuals operating under the moniker Satoshi Nakamoto via a paper titled Bitcoin: A Peer-to-Peer Electronic Cash System. In this paper, Nakamoto describes a peer-to-peer system in which the users are the exchange system, i.e. no third parties are involved in any transactions, which makes it the first system that is considered “decentralized”. Rather than a federal mint printing out cash, Bitcoins are also generated by the users through what’s known as a hashing algorithm. In short, the output of a highly complex mathematical function is made public, and users known as Bitcoin “miners” use their computers to test possible inputs. The number of possible inputs is in the billions, so being the first miner to determine the correct input is highly rewarded. As of this writing, the miner receives 12.5 Bitcoin, which is almost $20,000! Their correct input is tacked onto what is known as the “blockchain”, which is a decentralized ledger recording all transactions that have occurred over the Bitcoin network. The benefits of a decentralized currency go Continue reading >>

10+ Uses For Blockchain That Will Change Theworld

10+ Uses For Blockchain That Will Change Theworld

Utilizing token economy and Blockchain technology to identify each online visitor and customize website content in real-time. 10+ Uses for Blockchain that will Change theWorld Many people perceive the terms blockchain and cryptocurrency as synonymous when in fact theres much more to the technology than just a payment option. Here are 10 uses for blockchain technology. Our banking transactions, our shopping, our communication everything is done online today. And everything we do online is recorded and that includes the exchange of value, every digital transaction; goods and services, and so on. Blockchain technology collects that data into encrypted blocks that can never be changed or modified and throws open the pieces across a global network of nodes or distributed computers. Cutting-edge digital companies such as BehaviourExchange already use blockchain tech to revolutionize the way we use internet. The blockchain is a distributed database that maintains a shared list of records. These records are known as blocks. The encrypted block of code contains every detail of the block that came before it complete with the time stamped transaction. Chaining those blocks together makes for a blockchain. And the tech can be used for many other things than just a substitute for national currencies. Much more than just the technology behind cryptocurrencies Because blockchains are a virtual ledger, one can use this technology for all sorts of things other than money. Below are 10 potential everyday uses for blockchains that will definitely change the world according to one author on Steemit . 1. Decentralised Internet. Programmers are currently working on decentralised internet platforms to distribute all the functions of the internet over distributed nodes which will increase the Continue reading >>

Don Tapscott: Ten 2018 Predictions From The Co-founder Of The Blockchain Research Institute Quartz

Don Tapscott: Ten 2018 Predictions From The Co-founder Of The Blockchain Research Institute Quartz

A year ago, Alex Tapscott (my co-author of Blockchain Revolution) and I made some predictions for 2017. At the end of the year we compared those predictions to what had actually occurred. Overall they stood up well. Notably we said: Bitcoin will hit $2,000 (thats right: one bitcoin will be worth $2,000). Ethereum will not collapse, post-DAO, but will become a dominant platform for new apps and new business models. We were ridiculed by some for forecasting that bitcoin would nearly triple in value. You guys are nuts, was a popular tweet. Of course, only in the wild world of cryptocurrencies can you set a one-year price target implying a near 200% return, and miss the mark by a factor of nearly 10! As for ethereum, the fork happened and ethereum kept on chugging away, became the de-facto platform for the ICO ( initial coin offering ) boom that launched a thousand Dapps (distributed applications), from distributed file storage and prediction markets to collectible kittens. 2017 was a year when cryptocurrency markets dominated the public imagination. While some of us grew excited by the explosion of new applications, platforms and technologies being launched, many others were simply happy to ride the wave of higher prices. Indeed, the value of these assets grew from $15 billion to $500 billion, one of the great bull markets of our time. Is this justified? Valuations today reflect tomorrows valueand tomorrows value could be significant and revolutionary. So, taking the market as a whole as the best representation for the future value of blockchain technology, todays value could be argued to be conservative. However, its hard to look at the dizzying price escalation of virtually every cryptoasset, and the euphoria driving the market ever higher, and not feel some vertigo-ind Continue reading >>

How Blockchains Could Change The World

How Blockchains Could Change The World

Ignore Bitcoin’s challenges. In this interview, Don Tapscott explains why blockchains, the technology underpinning the cryptocurrency, have the potential to revolutionize the world economy. What impact could the technology behind Bitcoin have? According to Tapscott Group CEO Don Tapscott, blockchains, the technology underpinning the cryptocurrency, could revolutionize the world economy. In this interview with McKinsey’s Rik Kirkland, Tapscott explains how blockchains—an open-source distributed database using state-of-the-art cryptography—may facilitate collaboration and tracking of all kinds of transactions and interactions. Tapscott, coauthor of the new book Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business, and the World, also believes the technology could offer genuine privacy protection and “a platform for truth and trust.” An edited and extended transcript of Tapscott’s comments follows. In the early 1990s, we said the old media is centralized. It’s one way, it’s one to many; it’s controlled by powerful forces, and everyone is a passive recipient. The new web, the new media, we said, is one to one, it’s many to many; it’s highly distributed, and it’s not centralized. Everyone’s a participant, not an inert recipient. This has an awesome neutrality. It will be what we want it to be, and we can craft a much more egalitarian, prosperous society where everyone gets to share in the wealth that they create. Lots of great things have happened, but overall the benefits of the digital age have been asymmetrical. For example, we have this great asset of data that’s been created by us, and yet we don’t get to keep it. It’s owned by a tiny handful of powerful companies or governments. They monetize that data Continue reading >>

Here's Why Blockchains Will Change The World

Here's Why Blockchains Will Change The World

Here's Why Blockchains Will Change the World As early as 1981, inventors were attempting to solve the Internets problems of privacy, security, and inclusion with cryptography. No matter how they reengineered the process, there were always leaks because third parties were involved. Paying with credit cards over the Internet was insecure because users had to divulge too much personal data, and the transaction fees were too high for small payments. In 1998, Nick Szabo wrote a short paper entitled The God Protocol. Szabo mused about the creation of a be-all end-all technology protocol, one that designated God the trusted third party in the middle of all transactions. His point was powerful: Doing business on the Internet requires a leap of faith. A decade later in 2008, the global financial industry crashed. Perhaps propitiously, the pseudonymous Satoshi Nakamotowho may or may not be an Australian entrepreneur named Craig Wrightoutlined a new protocol for a peer-to-peer electronic cash system using a cryptocurrency, or digital currency, called Bitcoin. Cryptocurrencies are different from traditional fiat currencies because they are not created or controlled by countries. This protocol established a set of rulesin the form of distributed computationsthat ensured the integrity of the data exchanged among these billions of devices without going through a trusted third party. This seemingly subtle act set off a spark that has excited, terrified, or otherwise captured the imagination of the computing world and has spread like wildfire everywhere. Courtesy of Penguin Publishing Group, a division of Penguin Random House LLC Theyre like, Oh my god, this is it. This is the big breakthrough, said Marc Andreessen, the co-creator of the first commercial Web browser, Netscape, and a bi Continue reading >>

How Cryptocurrency Will Change The World

How Cryptocurrency Will Change The World

Wow, what a wild year it was for cryptocurrency. After the seeing the initial price surge in April/May, I did my research and saw the obvious game changer in the technology. I bought in during June, but I didn’t really start taking it seriously until the second big explosion in November/December. Now I’m practically obsessed with the stuff, so I’d thought I’d share with you my view on how cryptocurrency will change the world. I still think most people don’t see the big picture, and are either: 1. Completely ignorant and sitting on the sidelines, or 2. Have invested in crypto but only thinking about the monetary gains. As you’ll see when you continue reading, there’s a lot more to crypto than meets the eye. So without further adieu, let’s just jump right into it by starting with what cryptocurrency actually is. In it’s most basic definition, cryptocurrency is simply encrypted code that exists on the internet. It is used as a store of value and medium of exchange, which can be sent to anyone in the world, nearly instantly and fee-less. As the tech became more popular, many more cryptocurrencies have been created which all have different visions on the most effective way of building the future. Furthermore, each network is spread out amongst everyone who uses said cryptocurrency, which means there is no central source of power. This equates to decentralization, making it seemingly impossible for anyone including the government to eliminate the network and squash the free market. Now you might be thinking, “Ya that sounds cool and all, but don’t we already have money? What’s wrong with the dollar? What’s wrong with the banks?” And to that I say to you – What isn’t wrong with the banks? I highly recommend you read the post that I linked abov Continue reading >>

How Cryptocurrency Is Changing The World

How Cryptocurrency Is Changing The World

Home » How Cryptocurrency is Changing the World Every generation is defined by distinctive advancements and achievements. Generation X (1965-1980) brought us the Internet – the ability to connect and interact globally. Millennials (1981-1998) recognized the unlimited potential of the Internet and bent it to their will, building behemoths Google, Apple, and Amazon, and forever transforming information services, communication, and retail respectively. In 2009 a new technology was implemented – a technology with so many disruptive possibilities that it will effortlessly dwarf the Internet and everything in between. In retrospect, it will be recognized as giving birth to its own idiosyncratic generation – Generation Crypto – and it will span a century. Blockchain is the technology. It’s father; Satoshi Nakamoto. Satoshi Nakamoto is a pseudonym used by the blockchain designer. The name has never been tied definitively to anyone, and the question remains if Nakamoto is even a single person or an entire developmental group. Nakamoto’s Bitcoin address is known and believed to hold as many as 1 million Bitcoins, giving him a current net worth of $4.5 billion USD. For an individual of such notoriety, what could possibly motivate such staunch resolve to remain anonymous? Perhaps to perpetuate the idea of absolute anonymity as it applies to blockchain? To avoid becoming the target of hacks and attacks? Or (and this is likely his motivation) to avoid reprisal stemming from the incredibly disruptive goals of the project. After all, the intent was to combat the hegemony of central banks, oppressive economic policies of nation-states, and unsustainable fractional reserve lending practices. By doing this he was assaulting the dominance of the wealthiest and most powerful m Continue reading >>

How An Amazon Cryptocurrency Will Change The World

How An Amazon Cryptocurrency Will Change The World

How An Amazon Cryptocurrency Will Change The World An Amazon cryptocurrency wouldnt just change the face of the worlds largest online retailer. It would change the world. The era of mass adoption would be upon us within minutes of Jeff Bezos announcing either a proprietary AmazonCoin, or a partnership with an existing platform such as Stellar or Ripple. And it could happen any day. You can test our speculation at the end of this article. Rumors that Amazon may soon be making a foray into the cryptocurrency market have been circulating since late 2017, sparked by a series of crypto-related domain name registrations made by Amazons legal department in October. The company acquiredAmazonEthereum.com, AmazonCryptocurrency.com, and AmazonCryptocurrencies.com at that time. While Amazon has made no announcements regarding the registrations and is tight-lipped regarding any potential blockchain-related movements, speculation is rife within the cryptocurrency community about the potential implications of the move. What would happen if a dominant market force like Amazon were to enter the cryptocurrency market on a massive scale and begin accepting cryptocurrencies as a payment method? Amazon has a strong reputation for deploying its massive army of developers toward forward-leaning projects, giving credence to the proposition that the massive platform may even launch their own blockchain solution. What kind of impact would Amazon cryptocurrency acceptance or blockchain integration have on the blockchain ecosystem? On the structure of Amazons current holdings? In this article, well speculate on the potential fallout of an Amazon blockchain solution. Most of the discourse surrounding Amazon and the blockchain is focused on the possibility of an Amazon cryptocurrency allowing user Continue reading >>

Cardano Wants To Beat Bitcoin And Ethereum By Starting From Scratch

Cardano Wants To Beat Bitcoin And Ethereum By Starting From Scratch

On Oct. 1, 2017, an unusual event caused a collective gasp in the world of cryptocurrencies. A little known cryptocurrency called Cardano or ADA, as its corresponding coin is called showed up on crypto-tracking sites with a market cap of about $600 million. At the time, it was unusual to see a new coin appear out of thin air with such a high market cap. But Cardano is different. It's an incredibly ambitious product with a strong team and tons of buzz. By year's end, the market cap of Cardano was more than $10 billion, despite the fact that the project was in a fairly early stage. In January, it briefly soared to more than $33 billion before receding back to roughly $10 billion as the overall cryptocurrency market shrunk. It is currently the sixth largest cryptocurrency by market cap, behind Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. SEE ALSO: After a monster run, Ethereum is the number two cryptocurrency again So what makes the cryptocurrency scene so bullish about Cardano? Cardano claims it will solve most of the issues that plague well-established cryptocurrencies such as Bitcoin and Ethereum. Bitcoin isn't flexible enough, and transactions on its network are currently slow and expensive due to protocol limitations and overwhelming demand. Ethereum is far more flexible, but as prominent Ethereum developer Vlad Zamfir recently put it it's not safe or scalable yet. But Cardano, at least so it claims, has very secure code, peer-reviewed by experts and scientists. It claims to be fast and scalable, thanks to its Ouroboros proof-of-stake technology. It's written in Haskell , a programming language that's typically used in critical systems in the banking and defense industries. It provides interoperability between existing cryptocurrencies. And finally, it offe Continue reading >>

More in cryptocurrency