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Wednesday, October 25, 2017

Blockchain Taking over the World

Good introductory piece arguing the universality of the approach, starting with Bitcoin.  In CACM.

Why Blockchain is Taking Over the World   By Logan Kugler 

You've probably heard of bitcoin, the digital currency making investors drool over triple-digit returns.

Since January 2017, the market for "cryptocurrencies," or cryptographically-secured currencies like bitcoin, has exploded, growing from around $18 billion at the beginning of this year to more than $170 billion in October 2017. This extreme expansion has some calling cryptocurrencies the next "tulip fever," referencing a speculative craze that swept 17th century Holland and is considered the first modern economic bubble. However, others believe cryptocurrencies are the greatest wealth-building opportunity in history.

The reality is a little more complex. There are more than 1,000 different cryptocurrencies, with bitcoin being just one (and the first). However, bitcoin is responsible for more than half of the entire cryptocurrency market capitalization. Other notable cryptos, such as Ethereum and Ripple, also have market caps in the tens of billions of dollars.

However, one commonality between many cryptos—and a major reason there's so much interest in the market—is that they are built on a technology called blockchain, which could revolutionize how the entire planet lives, works, and spends money..  ....  " 

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