Q&A: What are Bitcoin & Blockchain and More Importantly, Why Do They Matter?
We’ve been hearing about bitcoin for a number of years now in the mainstream media and the common understanding is that it is a digital currency. Of course, this currency has not hit the mainstream in use, and so there is still a cloud of mystery around how it works and why it is of great significance.
I’d like to start by clarifying that it is not Bitcoin itself that is so significant, but the potential for mass adoption of a cryptocurrency (also referred to as digital currency), and the underlying blockchain technology that allows for the incredibly safe and trustworthy transfer of the currency, and any other kind of data or information. To best put it into context, blockchain is the new internet, and Bitcoin is the app that leverages the internet technology. Blockchain is completely game changing and the opportunities for application are endless.
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