Blockchain as the next step in the digitalization

Many people in the cryptocurrency space believe that blockchain technology is a completely new and revolutionary protocol that will change our society. Let‘s zoom out and take a look at how our society has changed thanks to the internet over the last 30 years.

Information and knowledge are available to everyone

In the past, when you wanted to research a certain topic, you would first look into your encyclopedia at home. If the information provided there wasn‘t sufficient, you would go to your local library. Should the topic have been sufficiently complex. Then, you would have had to have gone to a specialized technical library, usually located in the capital of your country or in a relevant university.

When we compare this arduous process with the current state of affairs. We can begin to recognize what a profound impact the internet has had on our society. Also it will continue to dramatically change our lives for decades to come.

For the first time in human history, information and knowledge are available to everyone. It is not stored in one centralized point of learning but is available to everyone on the internet.

Apps like Uber, Airbnb

At present, we are witnessing the advent of apps like Uber, Airbnb. Business models based on a shared economy which is only possible thanks to the internet. While these apps are not fully decentralized in the way that blockchains are these shared economy business models are definitely widening the availability of fields that were previously strictly regulated.

How do blockchain technology and cryptocurrencies fit into all this? We have seen a slow move towards decentralization that began with the advent of the internet. This trend is continuing at present with shared economy apps.

Blockchain technology, specifically cryptocurrencies, maybe the next step in this trend of decentralization with regard to how they provide decentralization on a whole a new level within a new field.

The world of finance.

Only time will tell if decentralization in the financial world will provide the same boost in profitability and efficiency as it has in some other fields. This is a possibility that cannot be ignored.