Vlog 161: Ask yourself not how Blockchain works but what you do with it. My attempt to explain blockchain for the beginner.
I don't how a car works but I can think of plenty of ways a car can be useful.
This is the mindset of this post.
The simplest way I can explain what you can do with Blockchain technology is this:
"With Blockchain you can create trust between two or more parties over the internet without a third party."
Now, the first thing that people thought of to do with this amazing technology was to create a currency.
They named it Bitcoin.
For the first time in history, it was now possible to send a currency over the internet to anybody in the world without a third party (most likely a bank). Faster and cheaper than ever before and all trusted by Blockchain technology.
It was awesome.
But the idea of trust over distance has already far surpassed a currency.
The Steem blockchain for instance, where I am writing these words right now, creates that same trust between all of us without a third party.
When you read this post, you know it's me that wrote it. Yet there is no third party (like Facebook or Youtube) to guarantee that this is true.
The blockchain provides this trust and nobody owns it.
This is literary mind-blowing stuff.
Blockchain Technology will eliminate so many third parties and it's only just beginning.
I talk about it more in my vlog.
I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.
We build Steemify a notification app for your Steemit account for iOS.
Get it Here:
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I do understand the concept to some degree. But my questions are; who for example owns steemit.com and who are the head decision makers who choose for example the design of the website, where all the components go? Who decides where the advertising money is spend and so on? How does a place like steemit become a reality without without a leader?
Steemit.com is just a frontend to visualize and interact with the steem blockchain. It's owned by Steem Inc. There are many different frontends build by others (busy.org, chainbb ect). The blockchain itself is owned by none. Hardforks (changes to the blockchain) come from Steem inc. but have to be approved by the witnesses who are voted in place by the community.
You have one talent - at least! - making complex things sound simple. Many of the people I talk about the blockchain with can not wrap their heads around the idea that no one owns it..
Earlier our own money was dependent upon the trust of a third part and with the introduction of blockchain and cryptocurrency the third party is eliminated and we are the owner and authority of our own money...no need to beg in front of banks for our own money...
Long live blockchain and cryptos...
Have a great day @exyle
That's an interesting analogy you've got right there. This makes it really easy for beginners to understand. Thus will allow them to realize that not all altcoins are bitcoin rip offs. From there you can decide to dig deeper on how blockchain works or how it can be applied in other fields. I wish I knew that when I started backing in March.
Excellent post, well you really describe gracefully the benefits of blockchain technology, yes we all want freedom we are born free and this is our right to live free as well why we deposit and sent our hard earned money to those banks and then they start putting hidden charges on it and also start controlling our money and we are no longer in a condition of use it freely, we have a far better option available now to save and sent our money in shape of blockchain and especially through steem blockchain and by doing this we also have a full control in our funds no middle man use our funds for his own sake, the future of blockchain technology is so bright and we surely see more developments and growth in blockchain with the passage of time, thanks for sharing your nice thoughts with us, Stay awesome.
When you explain and you say the word bitcoin then attention is gone... a lot of people are indoctrinated by the media about it.... terrible...
It's a shame. Nowadays I don't watch much news anymore. I like to believe it enhanced my life.
Wow very interesting post friend.You have beautifuly explain it how block chain system works without the help of third party. Thanks for sharing such a valuable lesson. Have a good day friend happy steeming.
To the point, this is the best explanation of the technology that I heard, my friend and you said in simple words "There is no third party," wow! You are right, everything is simple here, but as you know, brilliant, everything is simple and I completely agree with you! Thank you @exyle and keep us informed.
thank you.
Being new to Steem I will admit to struggling with understanding what it is and how it can benefit me - thank you for clearing up some of my questions and making things easier to understand. I still have a million more questions but you have helped me cross off at least 4 !! Thank you
@exyle,
"With Blockchain you can create trust between two or more parties over the internet without a third party."
When people ask this from me I was stucked before! But not again! I got a nice description simply!
As you said, I don't know how a car made, but I know it's useful :D That's great too! Thanks for sharing this nice simple meaning about Block Chain with us!
Cheers~
With your title you gave me an awesome idea for a meme :) Reading all this beginer stuff helps me understand blockchain better and in turn will be able to better explain it.
Show us the meme! :)
I've uploaded it on dMania on my meme posting account:
https://dmania.lol/post/cmmemes/everybody-must-do-their-part-for-the-blockchain-zg1hbmlh-4juc6