Moving beyond Bitcoin toward the coming massive disruption of the Blockchain

Blockchain is the underlying protocol behind crypto-currencies like bitcoin, but it is so much more and has promising applications far beyond mere monetary exchange systems. The days of trusted 3rd parties are numbered, at present all business models based on the notion of charging individuals for facilitating financial transactions from the simple to the most complex are over. The Blockchain will change the way we conduct transactions of all kinds. All units of exchange, a share of a company, a digital certificate, an electoral vote can all be exchanged via the Blockchain. Within the Blockchain all transactions are logged within public ledger which is then synchronized across the network. Which means transparency, consistency and accountability is built in eliminating the need for a middle man. Which brings up an interesting question; can we truly replace the bureaucracies we have come to depend on from banks, to escrow companies, payment processing firms, state and federal election commissions, transaction fee models and even the us stock-exchange with an open source distributed transaction database system? Some think so which is why Blochahain will be massively disruptive not only to economic institutions but to the very concepts of “trust”, “value” and “exchange”. In short Blockahain will be huge perhaps even more significant than the internet, there is simply no other way to say it. Our EBG staff has taken the deep dive on Blockchain here is the best of what we found from around the web.

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