The Blockchain is a new technology enabling large groups of people to
arrive at a consensus in realtime. Bitcoin is one of many things made
possible by this technology. I look forward to seeing how this
technology influence government during my lifetime. Democracy looks like
it's a bit broken, but for the first time in history, a real-time
global direct democracy could be technologically feasible.
The technology allows for a network consensus regarding the ledger that is bitcoin; a consensus, in that we all agree who has which coins, without having a central authority keeping track of the ledger. It's a rather challenging feat and not everybody even has the logic required just to follow an explanation of how this is possible. But let's go a step farther--imagine what else might be made possible by this new ability that humanity has recently developed?
The technology allows for a network consensus regarding the ledger that is bitcoin; a consensus, in that we all agree who has which coins, without having a central authority keeping track of the ledger. It's a rather challenging feat and not everybody even has the logic required just to follow an explanation of how this is possible. But let's go a step farther--imagine what else might be made possible by this new ability that humanity has recently developed?
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