What is Blockchain? πŸ§±πŸ”— Simple Explanation for Beginners! βœ… (In Just 54 Seconds! ⏳) #blockchain

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  1. Wow how amazing…blockchain is a record of transactions…of bitcoin. Definitely not a circular explanation of a technology that has no actual utility beyond being a gambling engine.

  2. It does not need anybody gives a very very wrong image. No hypocratism pls. Lets be objective and dont praise the blind believe in technology. It needs a tremendous amount by money, brain wae and technical infra structure. E.g. mathematicians for cryptography, (who must be trained at universities), developers of software languages and open source blockchain software, safe hardware producers. The Internet as such is a highly complicated infra structure of trans ocean cables, providers and consortium. Invlysuve emergency power grids for data centres, protocols for proxy servers etc …it needs computer manufacturers, mobile Internet providers, mobile device producers with tons of coders and IT specialists to keep the OS (like android) updated, security specialists (against hackers) like backup systems to protect the hardware and power grids with primary and secondary energy sources (wind, solar, refined oil etc) … the worst might happen by a solar storm that the electronics get damaged and the power grids fall out. imagine the efforts to keep all running, the dependency is much higher than owning paper money storing in the tresor locally. And not to forget it needs promoter of such technologies (which needs a huge communication effort) plus the political and legal processes as it needs also the law books and tax systems to regulate this digital world. Capital profit is nit tax free as such. The wild-wild west maniacs with their crypto casinos has shown in last 1-2 years that it cant be unregulated as it lies in the human nature that misuse is a risk for any digital asset. So it needs accountants and lawyers and tax consultants to avoid money laundry. Let's stop dreaming that blockchain technology or crypto currencies are the holy grail and paradise of happiness.

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