Don’t Be Distracted With The Headlines
Focus On The Blockchain
Unless you have been on an interplanetary voyage for the last few years, you’ve been bombarded with daily headlines about huge profits being made in cryptocurrencies.
It is enough to make your heart race and your thoughts turn to mega yachts and private jets. Warning: don’t let emotion fog your thinking.
The biggest of these new financial weapons of course is Bitcoin. Then comes Ethereum followed by others.
The headlines are all about the soaring prices of these electronic substitutes for dollars, Euros, yen or any other currency in the world. Talking heads on CNBC love to point out the gigantic investment returns if you owned Bitcoin from its original $0.11 price in 2009 to its recent level of more than $5700.
Ethereum got its start in late 2013 in a white paper by Vitalik Buterin, a programmer involved with Bitcoin. The price appreciation of Ethereum has been just about as spectacular as Bitcoin increasing approximately 1000% in just the past two years.
To Be Jealous Is To Be Human
As human beings, I admit to feelings of tremendous jealousy as Bitcoin and Ethereum make billions for a few lucky speculators. The compelling urge is to jump aboard the cryptocurrency bandwagon and ride it all it is worth.
And this is the problem: the cryptocurrency craze is so alluring and yet so dangerous. Nobody knows exactly how much the whole cryptocurrency thing will ultimately be worth? Right now everything feels good.
As the nutrition guru Jack LaLanne once remarked, “if it tastes good, don’t eat it.” Jack lived to 92 so his wisdom is worth applying financial decisions.
Faith Can Be A Powerful Deception
Cryptocurrency pundits can paint beautiful pictures of the future but nobody really knows if Bitcoin or Ethereum will exist years from now. Faith in fiat currencies like the US Dollar is based on the earning assets of America. Cryptocurrencies are backed by nothing and supported solely by faith.
As every organized religion in the world will testify, faith can be a fleeting thing.
If you are an experienced observer of Wall Street obsessions, you have probably asked yourself the question, is this another dotcom bubble? There are quite a few similarities.
We can agree that both the Internet in 2000 and cryptocurrencies today offer life-changing potential. Today the public fascination over the soaring price of Bitcoin and Ethereum and others distorts our perspective. Somewhere in the years ahead, at least one major surprise will shape the foundation of the cryptocurrency world. That is close to a guaranteed event.
Focus On The Blockchain
The mechanism that enables all cryptocurrencies to function is the electronic system, the Blockchain. Think giant online excel spreadsheet that keeps constantly updating the record of every purchase and sale and so much more.
The power of the blockchain goes way beyond currencies; it is a secure, time stamped transaction record. The implications of this are enormous.
Once entered a transaction cannot be altered in anyway. Of course this is the cornerstone for any monetary transaction. But there is so much more than just money.
The Worlds First Blockchain Notary Company
Back in 2013, Vitalik Buterin wrote about the need for building a decentralized platform for applications. This is what led to Ethereum.
It is this alternative that provides the platform for SilentNotary.com, the worlds first blockchain notary company. The notary business may strike you as a long way from the sizzling world of Bitcoin so consider this.
Massive Addressable Market
Everyday worldwide wherever communication takes place, there is a need to create a permanent record. The sheer number can reach into the billions every day. There are literally no limits. Here are just a few examples.
Contracts and other legal documents are made everyday often signed and dated with no formal verification. Real Estate transactions often require a licensed Notary. This is cumbersome and adds another step to the closing process.
Oral contracts had no legal value in the past. Now oral contracts can be recorded on the blockchain and carry the same weight as a written document.
The process of copywriting a document or a piece of music takes on a whole new dimension: fast, effective, and legally binding.
SilentNotary.com seeks to use blockchain technology to create an entire ecosystem issuing tokens that principally can be used to pay for services.
Follow The Plumbing
In the halcyon days of the dotcom era, visionary advisors chanted the mantra, put your faith behind the plumbing. In cryptocurrency world of 2017, the blockchain is the plumbing and Ethereum provides the decentralized platform. SilentNotary.com extends that plumbing to create billions of legally binding transactions daily.
James Waggoner, SilentNotary PR & Communication