Will Cryptocurrency change the world?

[Bryan Campbell]

How do you think cryptocurrency will take over the 🌎?

[Dan Huang]

@Bryan Campbell I see a lot of responses here that are a bit outdated. There are thousands of cryptocurrencies coming into the market every day - the truth is many of these coins or projects as I like to refer to them will fail, just like 99% of startups fail.

That said, however, the revolutionary idea behind crypto is the blockchain, and that, my friend, will change the world and how people perceive, store, and transfer ownership. Real estate is one of the largest industries ripe for disruption in a blockchain-enabled world. 

What is blockchain? It's a distributed, public ledger that tracks transactions over the network. And because it is a distributed ledger, it's un-hackable, unlike centralized ledgers (think banks or centralized data centers) because it would be impossible to attach every single node at the same time. Furthermore, the blockchain makes it possible to remove third-party intermediaries who essentially are there to guarantee that a transaction has indeed occurred, and there by adding unnecessary costs to the transaction. 

Blockchain technology, such as smart contracts, tokenizations, nfts will enable people to bank themselves without intermediaries because instead of a centralized system that is based on trusted third parties, we move to a decentralized system based on truth. verifiable truth.

So no, @Omar Khan, your analogy to tulip mania is wrong. Blockchain is a revolutionary technology that should you choose to ignore, you will be left behind just like the boomers who chose to ignore the Internet fad. ;)