Along with AI and IoT, Blockchain is one of the biggest technology buzzwords of the 21st Century. We have all heard about king of the cryptocurrencies, Bitcoin, and its incredible rise (and fall) in value against traditional hard currencies. Yet, Bitcoin is just one application of Blockchain technology — a cryptography-led way of distributing data in real-time — which will surely outlive crytpocurrencies and most of today's implementations of it for that matter! Blockchain is a sweeping change in how our digital economies and industries will work, including how we will all think about marketing in the future.
In this second vlog from TBT, Rick Maltby takes a look at how Blockchain really works and why most of the world's industries are taking a punt on it in some form. Rick discusses why Blockchain technologies are inherently secure and how they will be part of all our futures, even if we're not directly exposed to it.
Blockchain is here to stay and recent innovations such as IBM's tiny system-on-a-chip (SoC) means that factories, ships, houses and whole cities can be Blockchain-connected, making complex operations in the future a cinch! Nobody's quite sure where Blockchain could eventually be deployed but its potential to eliminate the need for third-party organisations could mean a future without banks, food delivered to you with a completely verified trace of its origin, and even social media news stories that have been vetted for 'fake news'.
In the next TBT Vlog, Rick with be talking specifically about cryptocurrency and where it's headed. How long will it be before we're all using cryptocurrency to pay for everyday goods? Will Bitcoin last the distance? Is cloud mining the way to get into generating your own cryptocurrency? We'll answer all these next time...