Hello Blockchain!

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Written By Pranjal Srivastava

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DON’T KNOW ABOUT CRYPTO CURRENCIES? YOU CAN START HERE

Learn the basics of Blockchain technology, how it is powered through Bitcoin,  Why people are talking about it and why you should know about it.

As a slight memory jog, most of you reading this post must have started using the Internet the way it is now. When you started you had no damn clue which server is talking to which one, what IP addresses are you using, how DSL, modem, routers work, and how the entire thing comes together as the Internet. You probably don’t have a damn clue till now. But you might wanna rethink Blockchains. 

Blockchain is another technology that is right under your noses as the Internet was in the 80s.

The only difference is you were just a small child saying boo-boo in the ’80s and hence could not capitalize on the Internet revolution, as they say. Now you are educated (hopefully), have a sane mind, have access to all modern technological tools, are well fed, and have plenty of money and time to indulge yourselves in worldly pleasures.

Yes I’m coming to all the I’m also a professional, visionary and I can change the word cacophony. The entire ecosystem around you is quite fixed in a way. You desire something, there are stages to achieve it be it education, house, car, partner, or moksha maybe. 

The point is all of these systems are driven by a few strong nodal points. As human species we have always created our own small networks – call them tribe, for your educated mind. Even in a tribe, one on one connection was predominant. It helped in choosing the next mating partner, conspiring against the leader for assassination, passing information to other tribes, and expanding one’s network for ‘information’ and having ‘access’. Eventually, when the networks expanded we slowly built ‘information’ and ‘access’ in the Internet. I know I’m jumping the gun to the Internet but you have evolved from amoeba to digital population so please spare me the details.

Now even after creating this ‘information’ and ‘access’ you could not ‘transact’. Hence the Third Parties. A ‘Third Party’ is an entity that will settle mutual agreements between two individuals because both parties don’t trust each other.

Funny thing, both parties trust the third party. Anyways as human nature is quite fickle hence one cannot be trusted completely. If you see any third party is also comprised of humans so the collective outcome of the third party may not be as it was desired.

Establishing trust between two individuals and simultaneously with a large group has been a problem that was solved by monarchs, kings, dictators in the past and is being solved by governments and banking institutions today.

Blockchain technology facilitates the entire ‘information’, ‘access’ and ‘transact’ ecosystem without any third party. Sounds Utopian? Yes, it is. Can we realize it? maybe yes maybe not. What can we do then? Understand and then act.

I’m simply here to help you understand things that have hooked me on to Blockchain technology. As I continue my understanding I’ll keep on producing content for you to consume. Either I’ll #buildl it or #rekt it, time will tell.

BTW..what the hell are #buidl and #rekt? 

Well, I deserve 1 more click don’t I? 🙂

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