Something Extraordinary Is Happening in Blockchain and Cryptocurrency, and Most People Haven’t Noticed
Remember when nobody knew what the internet was? It’s happening again.
Cryptocurrencies’ collective market caps have shot up as high as $177 billion, as of the time of writing this piece. Considering the year started in the low tens of billions, that’s a considerable jump. That’s a lot of growth in less than 10 months, and things don’t appear to be slowing down anytime soon.
Since the advent of the internet itself and the subsequent digital gold rush, people have been looking for the next big thing.
You may remember this video, when hosts of the Today show were asking, “What is internet?” That was back in 1994, when most people didn’t understand what the internet was.
The same thing is happening now, but it’s called blockchain.
The characteristics are similar. Blockchain is a technology that is new to most people (except insiders), and hardly anyone actually understands it. The technology is infinitely complex (cryptographic hashes and deep algorithms) and extremely simple (a decentralized ledger) at the same time. Just the way the internet was to people back in 1994.
