Blockchain

What is the blockchain? The mind immediately jumps to an image of several blocks all chained together. This isn't far from the truth. Blockchain technology represents a massive advancement unlike anything we've ever seen before. It has revolutionised our world in the same way as the internet did. And now is the time to embrace it......

What is it?

This is where most people get lost. If you’re not technologically adept it's easy to be intimidated by this unknown world. Put simply the blockchain is a public distributed ledger that offers unprecedented transparency to the Bitcoin ecosystem. Say what? Luckily for everyone you don’t need to understand it to use it. You can find a plethora of information online as well as on our site that can help your mind wrap itself around the concept.

It’s the future of currency, the future if money. It’s what the smartphone was to the land-line phone. Blockchain technology is the foundation on which the digital realm will evolve. From centralisation to decentralisation is a move so big in the world of currency that it will ripple the foundations of society. How that ripple affects you, is up to you.

But who controls it?

The story goes that Satoshi Nakamato created a digitised ledger in 2008 that formed the basis for the spreadsheets on which Crypto currencies and online transactions are managed. It’s called Cryptography and the same technology gets used in blockchain. The two main components of blockchain technology is decentralisation and the indisputable ledger. These two components combined make it extremely secure and uncontrollable. At the moment. Anything is possible and eventually this technology will also become obsolete. Different types of blockchain’s exist as well. Private, public and consortium are the major ones and they differ in levels of control and decentralisation.

The risks, and the true risk

Everything has a certain degree of risk attached to it. Building a career is just as much a gamble as it would be to enter a high stakes poker game. I have a feeling the poker game will have better odds at making it big than a job. My point is everything has a built-in risk return ratio and risk cannot be escaped. Only embraced.

Having everything digitised certainly carries a high level of uncertainty. Society has slowly been making its way towards digital for years. And now we have arrived at the true test of trust in technology. Our money, our sense of survival now being handed over completely to the digital realm. Central banks and governments around the world are developing their own digital currencies as we speak. The choice to accept blockchain technology will soon be out of your hands. Digital wallets are here and soon your dollar will be stored in it. Cash is becoming history, like it or not, and there lies the true risk. The risk that we allow our fear of the unknown to take away the potential for opportunity to unfold.

Your keys, your coin. You become your own bank. The idea of being responsible for your own money is daunting for most. The idea that when you mess something up fills us with fear. We become overwhelmed with the concept of having no safety net that we would rather outsource our power. Give control over to others because we fear making a mistake. It is better to make a mistake and stand in our power. When we lose confidence in ourselves, we risk losing our power. Don’t outsource, insource and roll when you fall.

Fear of the unknown can paralyse your mind. And fear of technology is just such an example. It will hold you in place and before you realise it your late to the party and all the cake has been eaten. The big risk with blockchain is that your fear keeps you from embracing the inevitable.

Conclusion

Carl Jung once said that what you resist persists. Why resist the inevitable? Rather embrace the unfolding unknown of technology, position yourself at the forefront of what is unfolding and drive the change, add your energy to the flow and stop resisting. The unknown is a place full of opportunity. Besides the decision will eventually be made for you anyway, so get ahead of the game. Go sovereign. But do so wisely......