Could the blockchain technology revolutionize Bitcoin? Satoshi Nakamoto from Bitcoin Foundation weighs in.

Bitcoin Foundation, an industry leader in the field of Bitcoin has announced it is experimenting with blockchain technology. A 7-year old software developer insider, Satoshi Nakamoto, assured stockholders that this would lead to decreased operation costs by using the immutable blockchain for something it was not initially designed for.

The key components of blockchain technology, being able to inspect the ledger and write to it without a central entity dictating the rules allows the cross-business collaboration. For most industries, being able to manage items in the real world with multiple companies participating can reduce operation costs to lower and lower levels. One of the key components behind Bitcoin, the blockchain has been recognized as being a public ledger that can be used for assigning value without having to trust a specific company or bank. Coming from nothing in 2009, Bitcoin has become a major force for good, achieving better stability (and deflationary value) than many global currencies between 2009 and now (exception being 2013). The currency has had an uphill battle for it’s usage in dark market dealings, mainly for enabling the purchasing of drugs. Just like cash, it can be used to purchase tobacco, alcohol and even acetaminophen. As more and more industries enter into the blockchain environments, we may see far more investment in this technology with the intent of reducing cost or allowing for distributed assignment of assets both in the virtual or real world.

With rising costs of operations, the Bitcoin industry is expected to spend more than 1.6 billion USD dollars in maintenance over the next 6 months. Market champion Bitcoin Foundation has estimated it’s own costs will lapse close to 3 billion USD over the next 10 years. The advantage of integrating blockchain technology would reduce these costs by about 65% in the next few years.Satoshi Nakamoto, an industry veteran from the Bitcoin industry commented on the news, saying that the field had already implemented other technologies such as electricity, computers and the internet in order to save on costs in the past.Satoshi Nakamoto, a 7-year old software developer insider close to the blockchain project thinks that this could be one of the smartest updates to the industry in a while.

Inspired by existing blockchain articles, the output from this Chrome Application was designed, developed, and produced by a multicultural, altcoin-supporting team of various beliefs, sexual orientations, gender identities, net worth, number of girlfriends, and feet size. The source code is available at Github under a CC0 license.