The true value of blockchain technology with a silly analogy

These are the facts: John is looking for clerical work but no one is hiring him

These are headlines:

“Job numbers worse than they appear as you can’t even get a job keeping the books”

“Underqualified workers are a problem that needs fixing”

And so on.

Some media outlets would spin the story and blame it on the employer, “they’re too greedy”. Others would blame it on a dog for not working hard enough. Plot twist: John is actually a 3-year-old dog, and a 3-year-old dogs can’t work, but most media outlets would fail to mention tha.

Imagine if that story were to be told via blockchain technology. You’d know, 100 times out of 100, what happened and why and how, and the information would be available for your perusal forever.

I apologise for the silly analogy, but I guess the point I’m trying to make is the true value of blockchain technology and cryptocurrencies is they remove trust, you don’t have to trust the source (your bank, your government, your favourite newspaper, whatever), you trust the code in the same way you trust your calculator when “2+2=4”.

Money, and information, that can’t be corrupted. And it can’t be altered arbitrarily. It’ll take time, but the inevitability of cryptocurrencies and blockchain technology will soon become self-evident.

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