One of the greatest technological advancements of all time is the internet. This technology provides enormous amounts of information, makes communication easier than ever before and has changed the modern business landscape. For these reasons and more, life without the internet is now hard to imagine.
If you could go back in time, you could make a lot of money investing in the internet. Of course, you already know this, as hindsight is 20/20. What’s more difficult is figuring out how to spend your money and time now. How do you know if a technology or company is going to grow or fail?
One of the best choices you have is to invest in a tried-and-true technology or industry. For example, you could have invested in Uber, even though there was a prolific taxi industry at the time. More importantly, you can invest in an advancement that’s been dubbed “a new type of internet” today – blockchain technology.
Before you can grasp the nitty-gritty details of why you should start a blockchain-based company, you need a basic knowledge of blockchain technology. Simply put, a blockchain is a shared, historical ledger that can’t be altered. In the past, ledgers have been independent and changeable. Blockchain overcomes potential errors, fraudulent actions and various other inefficiencies because it’s public and verifiable.
All right, that’s all you need to know for now. Of course, the blockchain is more complex than this explanation, but you don’t need to know all of its intricacies to build a blockchain company. In some ways, the blockchain is like a car. You only need a basic understanding of how a car works and how to drive it in order to take advantage of its benefits. Minute details can be learned along the way.
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