What is Bitcoin and Blockchain and why is it important to invest now

There is a growing interest and buzz around bitcoin these days. Have you heard of it before or not? In either case, it’s a multi-trillion-dollar financial industry that flies under the radar of most people (only 2% of the population is aware of its existence), which is the best time to take a stand against it. hit the general flow. It’s too late for cryptocurrency to be conscious because it’s viral. Some universities even offer bitcoin, cryptocurrencies and blockchain technology classes!

What exactly is Bitcoin?

Bitcoin is a digital currency (or digital money) stored electronically, ie not as material as fiat currency (dollar, euro, yen, etc.). It is created cryptographically and is thus a cryptocurrency. Works on open source software and is not managed by organizations. It is decentralized and not managed by banks or the government.

What is a blockchain?

Blockchain technology is where bitcoin and other cryptocurrencies exist. Blockchain is also used for applications other than cryptocurrencies, such as the processing of smart contracts. In short, a blockchain is a decentralized digital book. Keeps records of all transactions that take place inside and are managed by a peer-to-peer network. This means that individuals and businesses use it to transfer digital assets to each other via the Internet without the need for a third party (ie banks, governments).

Blockchain Technology and Investing in It

From a business perspective, blockchain technology aims to improve business processes and significantly reduce costs. At the same time, it will allow businesses to provide more service benefits to customers. For example, financial institutions can use blockchain technology to improve processes for things like settlement and insurance.

From an individual point of view, blockchain technology offers opportunities to earn significantly higher returns on cryptocurrency investments than traditional investments.

Blochchain technology and cryptocurrencies are rapidly proving to be an integral part of the future of money and finance in the global economy. It will soon become widespread in the global financial market, and those who invest as soon as they master this wonderful innovative technology will be among the newest millionaires in the years to come and beyond.

We are in the third big wave of the Internet. The first is websites and domain names (dotcom boom), the second is social media (dating sites, Twitter, Facebook, YouTube, etc.), and the third is blockchain technology, bitcoin and other cryptocurrencies. This is a great time to settle down.