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Blockchain and the Internet of Value in a revolutionary world
Written by Davies on / Reading time: 3 minutes.
What is a cryptocurrencies? What are they for? How can I use it? What are their advantages?
Questions of this type have starred in the world for the last ten years. The cryptocurrencies entered the scene at the same time as the Bitcoin in 2009. Since then, thousands of cryptocurrencies have been created with the aim of finding a niche in society. The financial world is walking to the beat of innovation and development. The cryptocurrencies are actors in this sector who have been adding companions over the years. We no longer speak only of virtual currencies, but also of the Internet of Value and blockchain.
What is the relationship between the two?
A love story at the core of cryptocurrencies
Both arise with the cryptocurrencies, and that makes us dare to talk about the two in the same line.
Technology is still advancing, and with it there is also a myriad of new knowledge. First, cryptocurrencies meant a great innovation. Then other concepts and relationships have emerged from its hand. For example: The Internet of Value, its use in companies with limited financial resources, its ability to make instant payments at a low cost, the possibility of reducing financial poverty, the realization of loans between individuals, their compatibility with EU privacy rules, etc.
The Internet of Value is based on the blockchain, and that is the main reason why today we talk about these two concepts as a reality that is born with the Bitcoin. The philosophy of the chain of blocks has produced an authentic transformation in the organizations, so that they have created databases and digital ecosystems based on the technology. Its inalterability, its registration, its protocol, and its accessibility by the participants have made the blockchain an opportunity for the present and for the future.
The financial world has become part of the Internet of Value, because with cryptocurrencies the money is not exchange, but the value on the Internet stage.
Cryptocurrencies: a promising future
If we stop for a moment to shuffle possibilities in the range of technology, it will probably augur a promising future and almost unthinkable for the human being. Now it has been the blockchain, but who tells us that a new revolutionary invention will not emerge tomorrow? Who is prepared to face the creation of new cryptocurrencies with amazing capabilities?
For many people, virtual currencies have already become the key to controlling and having power over their financial assets. They seek an activity without limits, leaving the traditional barriers imposed by the central banks. In short, they advance to the exit of their comfort zone.
An inviolable database
The Internet of Value and the blockchain technology have landed in our world to make some activities easier. Nowadays, protecting our data and ensuring the right security is a guarantee of success. So, the chain of blocks also has a lot to do with this. Getting a system so complicated to fail is not an easy task, as thousands of professionals work to improve this technology day after day.
This initiative points to the storage of the data and changes produced in these. In addition, because it is a distributed database, it is possible to identify the subjects or agents involved in the changes. We are talking about a practically inviolable and centralized record book.
Its advantages have made the world start betting on its application in other practices, such as health, data protection, insurance, human resources, etc.
Is this the beginning of change?