I’ve pulled together a list of things that I believe everybody should know about blockchains. These facts will not only help you make better sense of this new technology, but it may even equip you for your next trivia hour or business exchange.
1. Bitcoin, a money exchange system, pioneered blockchain technology and today, it has more than 8 million accounts and grew by more than 100% per year since it began in 2010. The person or team behind the service is known by the pseudonym Satoshi Nakamoto, but the entity’s real identity is cloaked in secrecy.
2. Blockchains can be public (like the internet) or private (like an intranet).
3. In terms of its development, blockchain is where the internet was 20 years ago.
4. Only 0.5% of the world’s population is using blockchain today, but 50% or 3.77 billion people use the internet.
5. There is significant investment by today’s tech giants such as IBM and Microsoft in blockchain technology. IBM dedicates $200 million and 1,000 employees to blockchain-powered projects. The average investment in blockchain projects is $1 million.
6. Over the last five years, VCs have invested more than $1 billion into [Suspicious link removed]panies.
7. The global blockchain market is expected to be worth $20 billion by 2024.
8. 90% of major North American and European banks are exploring blockchain solutions.
9. Blockchains are highly transparent because anyone with access to a blockchain can view the entire chain.
10. Similar to a Google doc, all participants within a network see all changes to the ledger. The ledger is constantly updated and each participant has their own copy of it.
11. A blockchain is most vulnerable to a breach when it first comes online.
12. 9 out of 10 agree that blockchain will disrupt the banking and financial industry. It is estimated that banks could save $8-12 billion annually if they used blockchain technology.
13. One-third of C-level executives are considering adopting or are using blockchain technology.
14. Just like with the internet, there will be jobs that become obsolete. But, there will be new careers that we haven’t even dreamed up yet that will be created as a result of the blockchain transformation.
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thanks a lot for this list, i appreciated it 1. Bitcoin, a money exchange system, pioneered blockchain technology and today, it has more than 8 million accounts and grew by more than 100% per year since it began in 2010. The person or team behind the service is known by the pseudonym Satoshi Nakamoto, but the entity’s real identity is cloaked in secrecy.
2. Blockchains can be public (like the internet) or private (like an intranet).
3. In terms of its development, blockchain is where the internet was 20 years ago.
4. Only 0.5% of the world’s population is using blockchain today, but 50% or 3.77 billion people use the internet.
5. There is significant investment by today’s tech giants such as IBM and Microsoft in blockchain technology. IBM dedicates $200 million and 1,000 employees to blockchain-powered projects. The average investment in blockchain projects is $1 million.
6. Over the last five years, VCs have invested more than $1 billion into [Suspicious link removed]panies.
7. The global blockchain market is expected to be worth $20 billion by 2024.
8. 90% of major North American and European banks are exploring blockchain solutions.
9. Blockchains are highly transparent because anyone with access to a blockchain can view the entire chain.
10. Similar to a Google doc, all participants within a network see all changes to the ledger. The ledger is constantly updated and each participant has their own copy of it.
11. A blockchain is most vulnerable to a breach when it first comes online.
12. 9 out of 10 agree that blockchain will disrupt the banking and financial industry. It is estimated that banks could save $8-12 billion annually if they used blockchain technology.
13. One-third of C-level executives are considering adopting or are using blockchain technology.
14. Just like with the internet, there will be jobs that become obsolete. But, there will be new careers that we haven’t even dreamed up yet that will be created as a result of the blockchain transformation.
For more updates, Follow us on Facebook https://www.facebook.com/blockchainexpertsolutions/
Twitter: https://twitter.com/BlockchainBES
LinkedIn: https://www.linkedin.com/company/blockchain-expert-solutions/