Wired.com let political scientist and blockchain researcher, Bettina Warburg explain blockchain technology at five levels of difficulty to five people; a child, a teen, a college student, a grad student, and a blockchain expert.
The current nosebleed speculative bubble around Bitcoin is just that. It’s not particularly based on the utility of blockchain technology, although most can agree it does have inherent value as a new system to help decentralize trade, allowing us to do more transactions peer-to-peer, decreasing our need for intermediaries, such as companies and banks.
The same way the Internet decreased the need for brick-and-mortar stores to do retail sales, blockchain technology is on its way to decreasing the need for any remaining middlemen, from online services like eBay to phone apps like Uber.
Like it or not, blockchain interfacing with robots, AI and other kinds of identities is in our future so it’s best that we understand a key foundation of the next industrial revolution.
