Now we know something about blockchain, I will share more about Blockchain revolution, now some practical uses of This massive technology. I will share about first implementation of Blockchain "cryptocurrency".
For proper understanding cryptocurrency first we have to know about history of money or Medium of exchange. Needs are the first reason of exchange. Its started from 9000 BC or even before that time, when people's are exchange their products for fulfilling their needs one family to another family and its called Barter System. Since then time to time people's change their system of medium of exchange its never the same thing again and again. Its change always sometimes frequently and sometimes slowly.
After a long journey now a days we found printed money ( 11 th century in China and 13 th century in Europe ) in our hand and its certified by the government of the countries. So money or medium of exchange can be anything with a certified and secured system.
See we people are not feeling safe with current printed money in term of carrying money, cause we know its risky, their are many other problem we are already facing . For that reasons we accept the others solution like , American express ( 1958) ,visa card, master card where we just carry some plastic, push or punch it and the digit which is shown by the banks and exchange us with fiat currency. Where other organizations are provide products and service . That's how again printed money change into plastic money or digit.
Now mobile banking takes money one step ahead, In a country like Bangladesh Bikash (started its journey in July 2011) and others banks are taking serious initiative on mobile banking they transfer digit mobile to mobile via mobile networks money moves everywhere and easily.Their total customers are now exceeds 24 millions and transaction over USD 7.5 millions per months.
Now guess what is coming?
If you think Cryptocurrency then right you are.
What is cryptocurrency: 21st-century unicorn – or the money of the future? In my opinion Cryptocurrency is nothing else rather Revolutionary medium of exchange.
In 2008 an unknown person or persons called Satoshi Nakamoto Proposed a Digital money system or medium of exhange Named "Bitcoin" By using Cryptography and Blockchain Technology where they solved Double spending of money and without any kind of trusted third party.
"Virtual currencies, perhaps most notably Bitcoin, have captured the imagination of some, struck fear among others, and confused the heck out of the rest of us.” – Thomas Carper, US-Senator
This digital money is the most secured money ever where no central organization can't exploit us no manipulation is possible, this also have a Commitment as Bitcoin number is limited as 21 millions no one can make more than that number. This commitment called white paper. Every single transactions need special permission for verification.
In my opinion Cryptocurrency is democratic currency, cause it's also by the people, for the people, of the people.
If you like this post then please upvote me and stay with me.