With blockchain, users will be able to store information without worrying about the security capabilities or the privacy practices of the service provider (information that is often deliberately obfuscated currently).
The concept of the blockchain has become so closely interlinked with cryptocurrencies that when people hear “blockchain,” they may immediately think of 20-something-year-olds mining away and storing digital currencies in crypto wallets. If these 20-somethings started early enough, they might own Ferraris, or if they have fallen prey to a scam, theft, or just forgotten their password, they may have lost millions.
Outside of the mindset that cryptocurrency, and therefore blockchain technology, is only for younger crowds, there is a pervasive mindset that these technologies and currencies are secret. Whether it be because Bitcoin is the most preferred cryptocurrency in ransomware or the fact the prefix “crypto” means concealed—blockchain gets a bad reputation due to the association. As such, it’s a world where most people are outsiders looking in, fascinated, and yet, not familiar enough to speak the language.
They don’t realize that blockchain technology could be as pervasive as cloud technology in a few years. If the industry moves in the right direction, blockchain technology has immense potential to equip average users with far more enhanced security and control over their information than they have access to currently. Most importantly, this won’t involve a steep learning curve, and users may be able to leverage blockchain at the backend just as they do with the cloud—likely without even being aware of it.
Continue reading: https://www.fastcompany.com/90834986/the-value-of-blockchain-is-in-the-technology
The concept of the blockchain has become so closely interlinked with cryptocurrencies that when people hear “blockchain,” they may immediately think of 20-something-year-olds mining away and storing digital currencies in crypto wallets. If these 20-somethings started early enough, they might own Ferraris, or if they have fallen prey to a scam, theft, or just forgotten their password, they may have lost millions.
Outside of the mindset that cryptocurrency, and therefore blockchain technology, is only for younger crowds, there is a pervasive mindset that these technologies and currencies are secret. Whether it be because Bitcoin is the most preferred cryptocurrency in ransomware or the fact the prefix “crypto” means concealed—blockchain gets a bad reputation due to the association. As such, it’s a world where most people are outsiders looking in, fascinated, and yet, not familiar enough to speak the language.
They don’t realize that blockchain technology could be as pervasive as cloud technology in a few years. If the industry moves in the right direction, blockchain technology has immense potential to equip average users with far more enhanced security and control over their information than they have access to currently. Most importantly, this won’t involve a steep learning curve, and users may be able to leverage blockchain at the backend just as they do with the cloud—likely without even being aware of it.
Continue reading: https://www.fastcompany.com/90834986/the-value-of-blockchain-is-in-the-technology
