Blog 4: Blockchain, Quantum Computing and Cryptocurrencies, what ,where, how and warnings?
So new technologies are emerging what do they really mean and how can you invest?
Before I begin, I have to Introduce Myself. My name is Akshith Konda. I’m a 21 year old College Student and I am the CEO, Writer, and, Author, and Editor of The Finance Spot. I do all of this on top of a full time college education. I’m not trying to sound cocky, It’s just something I do for fun.
Lots of people have done things like this but I guess the Finance Sector needed a fresh face.
I write easy to understand and simple content for any age group and level of understanding.
Finance is not hard it just requires a level of interest and that’s something I have not seen so I set out to change that. Find me on Instagram, Twitter, Facebook and Patreon. That last one is where I house my Investors Club Feel free to check it out.
But for now lets put that aside and lets get into the content of looking at Blockchain, Cryptos and Quantum Computing! These are all new technologies and the are mostly still in development so they don’t have a proper financial infrastructure, kind of like the stock market in the 1930’s. Blockchain still isn’t as widely tradable as say Bitcoin or Dogecoin but it has some financial impact in 2021. Crypto is really hard to not only earn but to mine and sell at this point in time. But regardless that’s what I will be addressing here. I’ll address each one separately and individually and address their what’s, where’s, how’s and then I’ll warn you of the risks of each.
What: Simply put, Blockchain technology is most simply defined as a decentralized, distributed ledger that records the provenance of a digital asset. Basically meaning that Blockchain is like a fancy receipt for Cryptocurrencies. Cryptocurrency is a near untraceable without Blockchain and so if Crypto is to become an international currency, it would require a type of ‘paper trail’ per say to actively be traded and used in day to day business. Blockchain and Crypto kind of go hand and hand so the company who pairs them together into a system would make billions if not trillions.
Where: Blockchain development companies are like I said still in their infancy so you may not find one on the NYSE or NASDAQ, but if you invest in the Grayscale Bitcoin Trust you may have equity in one or two Blockchain groups. Blockchain companies may take a few years to get to market or even to gain rounds of funding.
How: Go to StartEngine.com for Pre-IPO Opportunities for Blockchain companies. Look into Bitcoin Trusts or Crypto Trusts. Places like Mara and CoinBase might be your best bet.
Warning: Blockchain technology is still very very young and most of the companies developing it are either very old or in their infancy. If they have not tried to get into the Crypto Market they will be doing it now with newer and cheaper.
What: Cryptocurrencies are packs of assets with monetary value mostly mined from large data packets in the void of Cyberspace and then converted into monetary value.
Where: Coinbase, Robinhood, Mara, Binance, and other Crypto Asset Funds and Equity Companies. You can also mine them using miners and codes free of charge using miners and such then sell them off.
How: Cryptos store in wallets which are usually generated using ASCII or Hexadecimal Characters then translated into a QR Code for ease of access. Cryptos can be bought on CoinBase, Mara or Robinhood, you can also mine it yourself and place it in a wallet and because these wallets are digital you can store as much currency as you want in the wallet.
Warning: A few countries like India, China and Korea have banned most Cryptocurrencies from existing or even being used. Crypto is unregulated currency meaning it can exist in any quantity and with no physical evidence of it’s existence it actually quite hard to verify it’s existence as an actual digital asset. Crypto is also untested in certain large Bitcoin and most high profile wallets have been hacked several times. Crypto is also still in its development cycle but with time it could be secure and more accessible to all nations.
What: Quantum Computing is still in the conceptual and development phase so it may take some time to build up. Quantum Computing requires a great deal of Quantum Mechanics which at this point we cannot say we have mastery over. On a timeframe point of scale, there isn’t one. No one has any idea when Quantum computing will take over.
It could be next year or in forty, Quantum Computing to be on a mass producible scale or even relatively close to it has to be tested multiple times and there’s a lot of kinks to work out for that to happen there has to be some form of computational power that can process within or out of the range of Quantum Mechanics.
Where: So far IBM, Intel and other computer giants have not even begun to scratch the surface yet. Quantum Computing is still in development and while inventors the globe over have not been able to create it, it may take till the rough estimate of 2029 till we have even a PC with that much power. So think of Quantum Computing as a long term investment.
When I say long term I mean it. As of now, even the idea is a bit conceptual and no public company is making them but as of now IBM, Google, NASA, D-Wave and possibly Amazon have all tried to replicate it and some have come close but not relatively close to where it needs to be in 30 years.
How: Again No one has any idea how to build it because at this point we are mostly speculating about where we are at in the developmental and Engineering Cycle for this type of machine. We would need about 3x more power from the most powerful computer ever built and that may take a bit of time.
Warning: In the Theoretical/ Design Phase, and may take time and lots of it, and that’s something which most of us may not have. If you wanna invest in it be sure to keep your options open, look into investing in IBM or Google as both of them have spent decades on this particular venture. Amazon may have the backing but it will take them far more time to even get there than it will Google and IBM.
Guys, before we go, I need to say thank you to all my followers on Medium and to all my Subs on YouTube. It’s very hard to build a blog or a YouTube Channel at any level so I must say thank you to each and every single one of you.
If you liked my content, please do go ahead and try to find me on YouTube and subscribe, Check out my other blog all the links will be in my Linktree Below. Check out my other content, like my Patreon or my Instagram and YouTube, and my other social media. The link is below.
Find me on Instagram and on Twitter and do DM me about questions to talk about and write about in my blogs and videos.
I will try and answer them to the best of my ability. Consider becoming a fan and writing comments for my blog I love reading comments and responding to them. I also love engaging with my Audience and with fans of my work.
Please Consider becoming a Patron and select a Tier Group and then I’ll see you in the Discord Server.