We are living in a historical moment where Blockchain technology, literally a “chain of blocks,” is catalyzing the economic, financial, and technological scene. However, there is often widespread confusion surrounding terms such as cryptocurrencies, Bitcoin, and platforms.
These concepts appear abstract and challenging to integrate into everyday life.
In fact, only a few truly understand the functionalities and utility of this technological innovation. Currently, it is estimated that around 90% of the world’s population is still unaware of its existence.
This aligns perfectly with previous epochal technological revolutions. It takes time to explore and enhance all the functions that Blockchain allows before reaching mass adoption. To put it into perspective, it took approximately 25 years for the internet to achieve mass adoption, with various internal phases of testing and technical improvements.
Considering that in Italy, about 54% of the population currently lacks digital skills, a similar situation exists here. In fact, it is amplified.
We are only in the 14th year since the advent of this technology. Only now, based on significant initial investments from the so-called “big players,” are we entering the phase that inevitably represents the next future: DApps and Tokenization.
However, for most people, these terms are still unknown.
What is missing for the general public to get involved?
In my opinion, what is needed is communication capable of simplifying concepts that are not inherently simple. More importantly, it should inspire people who are still in the dark about all this.
This won’t happen by transmitting technical values, which will remain accessible to only a few until mastered. Instead, it will happen by conveying emotion, a hope of reopening the drawer of dreams, based on concrete facts that might seem “too good to be true” but, in reality, are true.
Ultimately, what is Blockchain in simple terms?
Essentially, it is a distributed ledger on the network where everyone can read and write data, and the data are secure because the ledger is decentralized.
Imagine this ledger as a book:
- All information is written, and anyone can verify it.
- It is not erasable: if we tear out a page, everyone would notice, as they are numbered.
- It is not modifiable: being the same for everyone, any changes would be noticeable.
All this is made possible by the way pages of this book are saved through a chain of blocks. Each block contains a package of information saved and linked to the next block, forming an unalterable chain – the Blockchain.
When you discover that all this happens in the most secure digital mode ever, based on encryption, how can it not interest or excite you?
Add to this just a few of the things we can do now thanks to this technology:
- Cryptocurrency: One of the first applications enabled is the management of value and transactions, with fast online payments independently, often mistakenly solely associated with investment. It is also important to distinguish the functionalities of Bitcoin from all other cryptocurrencies, the so-called “Altcoins.”
- Token creation: Often without a corresponding value but recognized as a token within a community or reality. Besides these fungible tokens, Non-Fungible Tokens (NFTs) have emerged.
- Transition to WEB 3: We are witnessing the third online revolution, allowing greater decentralization and privacy.
This is essential in the face of a myriad of concepts and opportunities associated with Blockchain but is sufficient to make as many people as possible understand that the near future is likely here.