Internet of value: Blockchain 101

7 months 2 weeks ago
Mariano Torrecilla
Fundador Blockchain Day1

About 20-25 years ago we began to discover what Internet was becoming, known as Internet of information. There was a long time since then and all of us agree on the change that has resulted for society, companies and people.

About 15-20 years ago, many online services began to appear, companies began to use the Internet and began to offer their services as used it for product sale, was the beginning of Internet of services.

About 10 years ago we began to use the social networks and the smartphones, making easing the communication between ourselves, this was called the Internet of people, this event was a catalyst for the society, companies and people.

Today and since some years we found the Internet of Things and the Internet of Value. We are again immersed in a new leap that means a new revolution of the already known. In many cases makes uncertainty, in other cases fear, in other distrust and even rejection but, fortunately, in many cases it makes interest for more knowledge and, especially, to benefit of the advantages it can bring to society, companies and people.

In both cases there are much to know, to apply, to take advantage of it and to normalize. In one hand we have the Internet of things, I mean, we have to think how everything can be connected and can send information or even be used remotely.

In the other hand we have the Internet of Value, and their main character that enables it is: Blockchain. Now that we can send information to each other, be people or things, it would be very useful to send more than information, it would be very interesting to send and receive assets, whether property, contracts, rights or obligations and change from one hand to another without having to do it as before, always with intermediaries or leaving the information only in the data servers of one of them. There comes the power to send money without banks, to send contracts and properties without the need of intermediaries that validate and register or to have access to all our data (imagine as an example the health data) in what we could call a global network of servers in instead of having them disbanded by the central servers of all the companies and entities with which we have a relationship. Whether we are a company or a person, it would be great to have universal access to a record of everything that concerns us, to be a faithful witness of what happened so that no one can say that something has not happened or that it did not happen at the exact moment that really occurred. Do not think that this change will generate that all these intermediaries disappear, at all, but that they will reinvent themselves to add more value to the process. Instead of being something inevitable and expensive, they will be something chosen and valuable.

Why not have access to all of this information and be able to grant or revoke access to everyone else?

Why not be able to send and receive money or our property of something without needing of someone to approve it?

Why not register it in somewhere we all have access?

A place that we can register it in matter of seconds instead of days, a place that is almost free instead of be variable according to the value of asset or contract transmitted and a place where everybody can’t delete anything.

In many cases the answer to all of these questions came from the security side, the uncertainty and the trust issues that all of it generates. The tech revolution can not be stop and we have the solution that allow us all of said before. It is a solution that comes from a specific need, be able to send money between people without banking intervention, but in reality it becomes in a global a transversal innovation in the same way that Internet was in their origin.

Internet has changed many things, process are more efficient, faster and cheaper. Now, with Blockchain, we have to achieve something more, that all of these processes and entities involved in an activity are to streamline and make it more efficient, to achieve joint success from start to finish, without being captive of anything or anyone.

 

If you want to know a bit more about how blockchain works and the change that it is you can do it by reading my book "Blockchain in 30 minutes".

 

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