Decentralize this.....Blockchain for the People

Dim lights, set the stage, queue music

It has been nearly 10 years since the introduction of blockchain technology. The internet wild west has rallied behind decentralization as a war cry, with financial systems being the victim of their manic warpath. The Mysterious Father(s?) of Blockchain, "Satoshi", remains enigmatic, and this social experiment is progressing at an alarming rate. Will the people succeed in decentralizing the known world? or will we plunge into darkness.... find out on next week's episode!

Dramatics aside - I keep circling back to the thought that there are a ton of meaningful applications for block-chain that are not being executed on. I for sure can't argue the value and popularity of cryptocurrency as block-chain's first comeuppance... But, the other potential uses for block-chain constantly scratch at the back of my mind. Things like law, cybersecurity, employee benefits/rewards, military, and so much more can be improved through block-chain technology. Especially when thinking of startups, and how leveraging this technology could make a business model really scalable and robust.

Saving myself from the impending rant on how much I want blockchain in my own statup, I'll switch gears to defining what blockchain technology is. Here is a great quote from pcmag that kind of sums it up:

"blockchain is the answer to a question we've been asking since the dawn of the internet age: How can we collectively trust what happens online?"

Basically, a blockchain is made up of a decentralized network that facilitates and verifies transactions - and the ledger that network maintains. Everyone in the network can see this shared transaction ledger, but there is no single point where records or digital assets can be hacked or corrupted. Because of that decentralized trust, there's also no one organization controlling that data - hence the term decentralization.

Logically, the first adopters that could benefit immediately are the big banks and big business "tech giants". The  block-chain-based smart contract can be utilized as a digital middleman, who executes business deals, legal agreements, and automated exchanges of data. Some companies are already implementing this, some examples being: using their cloud infrastructure to build custom blockchains for customers. or building a worldwide food safety network of manufacturers and retailers.

The point I am getting at is that block-chain has a ton of potential when it comes to any type of digital asset or transaction. My heart beats a little faster when I realize I can put just about anything on a block-chain.

Here is another great quote that expands on this concept:

"...Like the World Wide Web of information, it's the World Wide Ledger of value… This new digital ledger can be programmed to record virtually everything of value and importance to humankind: birth and death certificates, marriage licenses, deeds and titles of ownership, educational degrees, financial accounts, medical procedures, insurance claims, votes, provenance of food, or anything else that can be expressed in code." -Tapscotts'

can you feel the potential Mr. Krabs?

Looking back a the "Brief Look at Markets Ready for Disruption" posts ((1 2 3)) I think about how easy it would be to come up with Disruptive and Innovative business plans with just implementing block-chain. Some of the biggest industries in desperate need for digitization are Medical and Legal... which we already highlighted as prime candidates for block-chain tech... I bet you already have a few ideas of how to do it yourself after reading :)
Let me know what you think about all of this! please feel free to comment, critique, and share
Sincerely, MBMJeremy

((PS. here are some links to the information behind this post))

https://www.youtube.com/watch?v=vaPgfErzeu0
https://www.ted.com/talks/don_tapscott_how_the_blockchain_is_changing_money_and_business
https://digitalchamber.org/policy/chamber-reports/
https://blockgeeks.com/guides/what-is-blockchain-technology/
https://en.wikipedia.org/wiki/Blockchain
https://hbr.org/2017/01/the-truth-about-blockchain
https://medium.com/search?q=decentralize
https://trackchanges.postlight.com/decentralize-it-2c9f0bc2ed8e