IS THIS THE FUTURE OF INVESTMENTS?
Read time – 2:18 minutes
Cryptocurrency this, blockchain that, you get to hear these futuristic words often, especially when any concept of transparency is discussed. With an arcane origin, cryptocurrency addresses the fallacies of money as we know it today and wishes to bring about a revolution in how we understand it.
On the other hand, blockchain has some amazing applications. Already in use by the world’s biggest companies from the internet of things to food products, it is changing the way business is done, especially in the supply chain. It helps make services better and improves product performance.
This is what the book Bubble or Revolution discusses.
You will start to understand the mysterious origin of bitcoin, the renowned cryptocurrency, at the beginning of the book. An interesting analogy to Rai stones and the people of Yap island describes what could have been the origin of bitcoin. Imagine a currency that does not physically move from one location to another and is moderated by shared ethical values, how dissimilar it sounds to the banking system that we know of today. But once you get the hang of what these stones are all about and how the Yapese dealt with it, you get a good understanding of Bitcoins.
To understand blockchain, the middle part of the Bubble or Revolution discusses it in detail. Now, this is where the real understanding of this concept comes about. The system of blockchain is designed to have linear chains, block trees, hash functions, how difficult and expensive it is to undermine the system, chain hijacking, nonces, transaction pool, ASICs, and much more. You will end up sounding like a computer scientist somewhat at the end of this book for sure!
So, why is this relevant for you to know?
The future lies in this world. The case in consideration being, any product of the Internet of Things (IoT), as per Bubble or Revolution, that is linked to collate data using this technology is being used by you today. You may have daily interaction with this concept and its sheer growth is dependent on how, when, where, why, and what you use these products for.
Bigger companies have altered their supply chains to accommodate blockchain to manage their operations better.
Bubble or Revolution explains the concept that is often daunting in a simplistic manner with an inclination to invest in bitcoin as well. The book is written objectively in a format, that delves into the pros and cons of this technology but leaves you ready to understand and talk about it simply.
So, if you are curious about these questions as well, Bubble or Revolution has it covered, like-
1- How do new bitcoins get generated in the system?
2- What have been the past success/failure stories of bitcoin?
3- Why are people averse to investing in bitcoin?
4- How will bitcoin ensure its sustainability in the future?
5- Is it a viable investment today?
6- Why hasn’t blockchain scaled up globally?
7- What other uses of blockchain exist besides bitcoin?
8- Is it cost-effective to implement blockchain in your company?
Bubble or Revolution is a good read if you want to familiarize yourselves with the world of bitcoin and blockchain. Since it is the future, it would be wise to pre-emptively become aware of its terminologies, it’s applications and be knowledgeable of its impact on you as well.