Blockchain: The Future of Digital Infrastructure
If you think about the Internet as the first layer, blockchain is poised to become the next layer of the Internet. Together with the applications that run on top of both of them, we are beginning to create the future of digital infrastructure.
Blockchain first and foremost represents a global movement of open source technology that is made by the people, for the people and is accessible to anyone with an internet connection. It is also an umbrella term for the many technologies, protocols and principles that have been combined together to create a shared public database that can store any asset we can digitally represent, which is almost everything.
This digital asset ledger is then cryptographically secured, copied and stored in thousands of network nodes all over the world that collectively maintain this database. They are updated in real time and communicate which provides the highest level of security on the market and a global source of truth. It also creates a decentralised storage solution for big data as well as the sharing of resources to host it.
Blockchain is a globally accessible database of digital assets that is owned by everyone and controlled by no one. This shared public database represents the infrastructure layer and is where information can securely be stored, monitored and tracked which creates transparency and accountability.
On top of this infrastructure layer is an application layer. Each digital asset is linked to a digital token and this token can be programmed to essentially become smart, to be digitally tracked or transacted automatically given the pre-programmed terms.
Empowered by a smart phone or an internet connection, users can securely trade and transact between each other, according to their priorities, monetizing system and social values. This digital infrastructure will enable new ecosystems of value and will decentralise the global marketplace to be accessible to all, regardless of scale.