Recently, I have come across the topic of blockchain technology and have found a profound interest in it. To my understanding, this is a new technology to the world and the hype involved comes from it solving the problem of securely transferring assets over the current internet we have.
In an attempt to better understand blockchain and also to create my first steem it post, I will be posing a number of questions of which the reader can use the comments section to provide answers or merely just their understanding of the question.
I am posting this on Steem it as I feel there are a great number of intellectuals on this platform as opposed to any other that can provide me and any other person interested with profound answers. I do understand that blockchain has the potential to solve many of the issues we face today and could play a big role in the future to come but for the sake of this post I refer to a crypto currency blockchain specifically.
- Why would I want my transaction to be made available for everyone to see on the bitcoin ledger?
Now I understand, in terms of governance this will be beneficial to the public, should government decide to use a blockchain to record their spending as this will minimise corruption and make the public aware of where their taxes and funds are being allocated to. But as at today, to me as an individual, why would I want to partake in this blockchain? Why would I want everyone in the blockchain to see where my bitcoin goes?
- What has attracted most to invest in bitcoin? Apart from those who are looking for a return I am more interested to hear from those who see the benefits of crypto currency and the revolution it will bring as I believe.
Also, how have you gone about in trying to understand and comprehend what this technology could bring to us in the future?
Please share your thoughts and opinions with me on this topic and it will be much appreciated. I am not only posting this to receive an up vote or anything of that sort however, it will be much appreciated if I do. I would just like to be part of this revolution and I believe Steem it is the right channel for this.
Many thanks