The Blockchain, what is it ?
The Blockchain is the future. The uses of Blockchain technology are so vast that billions of dollars have been invested in it over the past few years. The Blockchain is a distributed, global database that maintains a growing list of records, called blocks. The Blockchain can be used to conduct secure, encrypted, person-to-person or person-to-business transactions. Blockchain transactions are almost instantaneous and incur significantly lower fees than do transactions by other methods.
The Blockchain is also a platform for “distributed applications,” which are software in which the computing work is done by computers distributed globally, instead of by a single computer. This greatly increases the computing power available to run complex software. People are typically paid by the software owners for allowing their computers to perform some of the computational work for distributed applications.
Large corporations may not have to invest as much into database infrastructure.
Instead, they could pay to store and process information on the Blockchain. This is similar to the Internet “cloud,” although many financial transactions and software applications are better suited to be conducted using Blockchain technology. The demand for Blockchain technology by companies, investors, banks, and governments is rapidly increasing, which leads to profitability.
Through research, analysis, expertise, collaboration, and complex algorithms, Blockweather is uniquely positioned to provide our clients with access to these profitable investment opportunities. Our current clients often see more increase in the value of their portfolio holdings in one week through investments in digital currencies than they obtain in an entire year with investments in traditional assets.
Without exaggeration, we and other experts agree that this change in the finance industry is a once in a lifetime opportunity.
Blockchain technology has vast uses:
- Electronic payments worldwide, which are almost instantaneous and incur very minimal fees
- Digital identities: to sign into websites or sign documents
- Records of digital assets, land titles, and frequent flyer miles
- “Smart contracts” that execute automatically and without interference
- Audits of insurance claims
- Confidential storage and transmission of healthcare data
- Finance company records
– Your daughter’s wallet is lost while she is overseas. Using the Blockchain, you could immediately
send her Bitcoin with minimal fees or hassle.
What is Bitcoin?
Bitcoin is the first decentralized digital currency. It is used in electronic transactions over the Blockchain. Bitcoin can be converted to and from traditional fiat currencies, as well as to and from other digital currencies.
Bitcoin is used as money and can perform functions like software:
- Bitcoin is used as a digital currency in global electronic transactions using Blockchain technology. A payment can be made from a person to a person or company almost instantaneously.
- Each transaction is recorded publicly on the Blockchain, though the identity of the involved parties is not public.
- Bitcoin can be exchanged like money. It is recognized as a store of value, similar to gold. One Bitcoin at times is worth more than an ounce of Gold!
- Bitcoin can use Blockchain technology to perform functions like software and to store information.
- “Mining” Bitcoin refers to Bitcoin being awarded in exchange for the use of computing power to verify Blockchain transactions.
- There can only ever be twenty-one million Bitcoins in existence. Thus, Bitcoin is not subject to the inflation and devaluation that occurs with traditional money when more of it is printed.
What is Digital Currency?
Digital currency (cryptocurrency) is a currency or medium of near instantaneous, secure, electronic transactions. We have already been transmitting fiat currencies electronically for decades. Digital currencies are used specifically for electronic transactions, and they can also store important information or perform functions like software.
Each digital currency has different characteristics and functionalities, which make it most useful in specific applications.
- Digital currencies are traded on global market exchanges, very similarly to how stocks are traded on the New York Stock Exchange (NYSE) and other exchanges. Trading methods and chart analysis are nearly identical for digital currencies and traditional stocks.
- Certain digital currencies are designed with functions best suited for transactions between banks, whereas others are better suited for transactions with hospitals, insurance companies, or individuals.
- Digital currencies can also store information related to real estate transactions, frequent flyer miles, confidential health information, or contracts. The uses of digital currencies are much more vast than just these examples, which is why the Blockchain and digital currencies have been supported by billions of dollars of investments from major companies, technology and finance experts, investment firms, and governments over the past few years. This has led to increasing demand for digital currencies and highly profitable investment opportunities.