With Facebook’s Libra, the crypto-community around the globe has yet more things to talk about, if not be hopeful. The crypto-currencies as well as its underlying blockchain technology together is slowly yet steadily penetrating human life, at least in terms of things to keep an eye on. The same way e-commerce websites were making buzz in the 90’s. If you don’t know already, blockchain is just an open, distributed ledger that hosts growing list of records linked together in such a way that they are append-only and can’t be modified or tampered with. Technically, with blockchain you publish your resources to protect them unlike what we normally do by hiding it in the safest of places. The use of cryptographic hashing, peer-to-peer network and consensus algorithms makes them almost perfect to foster cryptocurrencies along with unlimited other possibilities.
You might have heard though, that blockchain is here to address the trust gap in this generation. Just like pen and paper solved the knowledge gap between ancient civilizations and just like invention of commercial steam engine 1712 solved the energy gap that was then looming around. By how Libra association hopes it will “transform the global economy” to how two giants IBM and Maersk Line partnered up for a collaborative supply-chain solution using blockchain, it should be no secret that many other revolutionary technologies are being developed under the hood in the foundation laid with blockchain. Maybe it’s too early for the tech-giants and the governments to ‘decide’ about the way they want to deal with this early-to-predict technology. While traditional technology is just blooming the central authority with more control and wealth which sounds more like autocracy. The blockchain technology is like democracy; decentralizing the resources and control. And our world is the proof that democracy is way more accepted. So, is it inevitable that blockchain will shape our future.