Becoming Familiar with Blockchain: Preparing for a Shift Towards Adaptation of the Technology.
While I consider myself a “newbie” in the world of blockchain technology, I see the potential for it in many different industries. While the technology is still in it’s infant stages, the support & constant development is promising. The technology continues to disrupt & will continue to disrupt industries across the board.
As a Business Marketing & Accounting student constantly exploring the job market, I consider it crucial to become familiar with the technology. I believe knowledge of the technology will give people entering the job market a competitive edge.
My time in China working for Genaro Network has proven this. While most of my work has been learning & growing my knowledge for Data Storage on the blockchain, because that is their mission, I have found time to research other potential for blockchain that applies directly to me.
“Genaro Network wants to provide developers with a one-stop development platform that can deploy smart contracts and store the data required by DAPPs at the same time, and provide each person with a trustworthy internet that connects the real world to the blockchain via data.” — Larry Liu, Co-Founder & CEO of Genaro Network
As I enter the business field, I know how important it is to keep information secure. Learning how Data Storage on the blockchain is much more secure than cloud storage furthered my interest in learning more about the technology. Using platforms like Genaro Eden for Data Storage is beneficial to everyone. I previously spoke on the security Eden provides HERE. Also, the sharing economy which is created within the network is enamoring. As of now, the cost of 1 GB of storage on Genaro Eden is $0.015. That cost will continue to go down as more users join the network & more nodes are created, which in turn increases the scalability. Read more here: “Genaro Eden: 5 Core Features.”
The economy or ecosystems created by blockchain platforms lead me to think more and more people with start using the tech. Unlike a centralized bank or entity controlling things, assets or things of value are exchanged through peer-to-peer transactions. Instead of the centralized banks validating exchanges, the blockchain community does through ways such as mining. This system’s inherent decentralization and ecosystem removes power from “central authorities” & gives it back to the people.
Genaro Network has an ecosystem within its network. Along with the ability to store data on the Network, people are also able to use their unused Hard Drive space to earn rewards by “Mining.” This creates the global economy that Genaro Network is pursuing to achieve. While mining on a blockchain typically requires a “super-computer” mining on the Genaro Network does not. Anybody with extra space on their local hard drive is able to participate in storing others encrypted & shredded data on it, therefore earning GNX. Read HERE on how to earn rewards using unused space on your hard drive & join the sharing economy.
After graduating from Azusa Pacific, I plan on working towards earning my CPA (Certified Public Accountant) Certification. Entering the Accounting Field sounds daunting, because it is infamous for dry, long work hours. However, I chose accounting, because of its applicability to business. My interest in blockchain tech has led me to look into how it may change this career path.
The use of the Blockchain for accounting use-cases is hugely promising. From simplifying the compliance with regulatory requirements to enhancing the prevalent double entry bookkeeping, anything is imaginable. — Nicolai Andersen: Partner, Innovation Lead at Deloitte
Accounting technology is still in its early stages, especially in comparison to other industries. This is mostly due to the fact that their are so many regulations in the practice. Blockchain tech has the opportunity to disrupt this industry, because of its record keeping, transparency & inability for people to change or destroy records. There would be much more clarity in the ownership & transferring of assets, which will allow accountants to spend less time record keeping & focus on more important things. Along with impact on the record keeping process, auditing processes will be changed. With the promising potential for blockchain tech to be integrated in business, Auditors will need to be know how to obtain adequate audit evidence from blockchain ledgers, on top of the general ledger. Big 4 accounting firms are investing in, researching & even implementing how to account for transactions recorded on the blockchain. PwC (PricewaterhouseCoopers) recently announced their
“Blockchain has the potential to powerfully disrupt many aspects of how businesses and economies work; even how societies are organised.” — PricewaterhouseCoopers
support for blockchain adoption by releasing a blockchain audit service. As an accounting major, I believe it is important to become familiar with the technology. While implementation of these systems may be years or decades away, I encourage those entering the job market to learn & gain sufficient knowledge of blockchain technology in order to prepare yourself for the shift towards use of the technology.
LinkedIn: Kauwila Johsens
Genaro Eden & Sharer Download Link: https://genaro.network/en/genaro_eden/
