Web searches, page visits, online purchases, tweets, SMS messages, emails, phone calls, photos, videos, GPS coordinates – this is the data that makes up our digital lives.
For the past decade consumers have sacrificed their privacy, building giant banks of data for companies without any upside exposure to the value that they have created. Thanks to the Bitcoin Protocol and the 21 Bitcoin Computer this no longer has to be the case.
Billions of photos are shared every day by hundreds of millions of people using smartphones. Between the rapid development of high quality camera phones and the decreased cost for cloud storage, sharing photos from all around the world has become effectively free.
Building a library of stock photos once required an army of photographers working around the globe; now this naturally occurs over social networks such as Instagram.
Source: Bitcoin Magazine
Blockchain, the technology underlying the digital currency Bitcoin, has sparked intense interest across industries from banking and trading to agriculture and music. Large-scale deployment of the technology, a digital ledger of identifies and transactions, could be years away. Yet the level of commitment to testing and development, especially in financial services, shows how seriously blockchain is viewed in the corporate world.
The power of blockchain lies, advocates say, in its inherent security, which can establish trust directly among parties in a transaction, making it possible to remove the middlemen that currently serve that function. Entire industries, such as clearinghouses in financial trading or title-search firms in real estate, conceivably could be displaced, slashing costs and cutting the time required to complete a transaction. The impact, they say, could be massive.