A buzzword: blockchain. What first comes to mind, is the cryptocurrency industry. It’s undeniable, however, you must know it’s only a part of its huge potential. Blockchain is a significant, tech movement, and ingenious invention of our times. What is blockchain then and what is so special about it? There are a lot of professional articles, yet these few words are nothing but my personal approach to the subject.

Blockchain to unchain the world

First, you might ask: What is blockchain? In a nutshell, blockchain is a distributed ledger technology – open and transparent. It’s a series of invariable and indivertible records of data managed by computers not owned by any supervising institution. Each of these blocks of data are secured and bound to each other using cryptography. Thanks to peer- to -peer network, it’s a safe and straightforward way of transferring and keeping the transaction information. As a new technology, it has many advantages, like unbreakable system, anonymity, resistance to technical failures, and – what is the most important – mentioned earlier, decentralization. It is our freedom, but we have to remember, it’s not an escape from the responsibility. For now, the area in which we use blockchain is mainly cryptocurrencies, but with time, the technology will apply also in banking, trading or power engineering. We can certainly expect that the modern economy will be based on the blockchain technology, regardless of the future of cryptocurrencies.

Guard of valuable things

As Don Tapscott and Alex Tapscott – authors of the “Blockchain Revolution” (2016) – said:

The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.

Blockchain is a space full of opportunities. Of course, there is FinTech industry which can gain the most, but thanks to the technology that makes it very easy to enter and store data, we can also use blockchain in medical or tax area. In a world where sensitive data, our identity and authenticity of information are the most important values, blockchain and the technology that stands behind, seem to be a perfect answer. For individuals, but also for the government system. In short, it would allow us to increase the level of security, credibility, trust and transparency. And what about our physical goods? They also could be confirmed by transaction record in a given block. All that sounds like a real revolution of our times.

Cyberspace to help people

Blockchain brings equality and its possibilities are endless. This will affect the functioning of enterprises but also our everyday life by simplifying and improving it. What is the most important at present, it’s the spreading the knowledge about this innovative solution. For me, as an owner and the CEO of a software house, it is a goal and will be a milestone. I believe it will be an amazing tool to develop the economy and the IT infrastructure on many different levels. I am interested in the future, and if I can participate in something so great and big like the blockchain technology, I will do that with great pleasure.