If you aren't aware of what blockchain technology is about to do to our world then you are in for a massive shock.
Bitcoin, the first scarce digital asset, introduced the world to the concept of blockchain through the function of cryptocurrency, but the blockchain technology underlying cryptocurrency can be used to power any digital application like the ones you use today while simultaneously making the application uncensorable, tamper-proof, hacker-resistant, and immune to corrupt entities who might seek to control it such as corporations, governments, or evildoers (but we repeat ourselves.)
As our technological lives become increasingly centralized under the control of a few gigantic corporate entities (Facebook, Google, Apple, etc.), blockchain is the only ray of hope in the face of digital serfdom at the hands of Silicon Valley overlords who control all of our information and can ban or censor political opponents, competitors, whistleblowers, or journalists without recourse.
Simply put, if an app is built on blockchain, it is owned and operated by its participants. Imagine a Facebook equivalent that is not controlled by Facebook or any corporation but is instead controlled by the people who participate in it. This is referred to as a DAO — decentralized autonomous organization. A DAO is a digital network of participants who interact, transact, and self-govern by cryptographically enforced rules which are a condition of being part of the network. There are no employees, no owners, no buildings, no corporate entity. The word corporate has its roots in "corpus", meaning body in Latin, referring to the fact that a corporation has legal rights similar to a person even though it is made up of many people. The DAO is incorporeal. It is a logical construct that exists outside of localized space and is perpetuated by those who choose to utilize it. As the blockchain network gains participation, it also gains value, and this value is realized by the participants as monetary value in the form of cryptocurrency that can be traded.
Imagine a world where a new social network exists because people will it to exist; it allows everyone and censors no one. It's controlled by no single entity with no single agenda. It's always available worldwide and empowers individuals to control how they consume others' content by setting their boundaries, rather than having big tech overlords deciding what they can and cannot see or share. And participating in the network generates tangible value for participants. That is a truly revolutionary concept. And it is quickly becoming reality. Although no blockchain social networks have quite nailed the concept yet, there are already many to choose from. But who cares about social media, right? That's just a waste of time, and time is money. Let's talk money.
DeFi (decentralized finance) is another way where blockchain is already flipping the tables of traditional institutions. Imagine a bank that provides loans, collects interest and secures deposits, but nobody works there. The bank is fully automated and digital, handles cryptocurrency, and has zero overhead, no board of directors, no employees, no brick and mortar office, and offers a 20% annual yield on deposits. No, this is not theoretical. Anchor Protocol does exactly this, and it does it with USD-backed stable crypto coins. This means that today, right now, you can convert your dollars to $1 stablecoins and get 20% back on them per year, whereas traditional banks are giving you a 0.01% return on the same money. If we were a bank, we would be collectively crapping our pants. Banks simply will not survive the DeFi revolution, nor should they. Just as carriages did not survive the vehicle revolution, and taxis are barely surviving the Uber revolution, banks have had thousands of years to innovate and they simply chose not to. Because of this, Satoshi has crushed them, and they are like dead men walking.
It sickens us how banks and corporate entities advertise their loans and credit cards as if they are avenues of freedom and happiness to consumers when they make their money by creating debt slaves out of weak-willed individuals who can't afford the lifestyle they want to live. These slavers will get what they deserve.
Add to the fact that the supply of dollars has increased by 4x in the last year, meaning that your dollar is only worth $0.25, and you'll see why not only is blockchain and cryptocurrency a ray of hope, it's the only haven against potential hyperinflation of the US dollar. Do you want all of your cash, on hand or in the bank, to lose 75% of its value? It's going to happen. It's a matter of when the economy catches up with the ballooning supply of money.
FYI, investments are somewhat insulated from this so inflation would primarily affect physical cash and cash in your bank account, but not necessarily affect retirement accounts, which you should still have even though we believe cryptocurrency is the future.
The InterPlanetary File System is another innovation tangential to blockchain technology that allows anyone to host files in a decentralized manner by automatically splitting up files and distributing them across volunteer nodes all over the planet. Running an IPFS node is so simple anyone can do it (just install their app and leave it running on your computer). IPFS makes files immutable and uncensorable as well, enabling storage of large data in a way where the data can't be blocked by a malicious hosting provider. Say goodbye to centralized hosting. We don't need big corporations to control our data anymore. Power to the individual!
If you want to learn more about blockchains and cryptocurrency, start researching different coins on https://coinmarketcap.com/ to see what they are all about and how they are creating wholly new economies out of thin air. The revolution has already begun. Make sure you're on the winning side.
We look forward to the salient downfall of this short-lived digital oligarchy. It's hard to believe that corporate behemoths larger than any nation that has ever existed could rise and fall within two decades, but we are witnessing it in real-time. And it's beautiful.
We encourage you to get involved in blockchain development because blockchain technology and applications will not only destroy these behemoths but will inoculate the world against them.