We live in the digital age of transformation and innovation. In the midst of this transformation and innovation, there is this cryptocurrency called “Bitcoin” powered by blockchain, which some of you may still be clueless about. And that’s totally fine. There are billions of people around the globe who still either haven’t heard of Bitcoin or doesn’t fully understand it.
This article is designed to help you at-least understand the transformation that bitcoin and blockchain is likely to bring for Nepal as well as many other countries around the world.
I want to begin with Email. Something that is very common to all of us. So, where did Email begin and how did it begin? What led to the transformation of adoption of emails as a bilateral messaging service.
The first use case of email dates back to 1965 where MIT (Massachusetts Institute of Technology) was utilizing it’s first ever emailing system known as MailBox. However the notion of email was limited to just one single computer. Sort of like leaving message from Folder A to Folder B in the same computer.
With the internet arriving latter, it was then possible to send the same message to another computer over the network using TCP/IP. Even with the capability of sending bilateral message to another computer using internet and TCP/IP, pioneers and inventors still weren’t sure as to how they could address it. This is when the symbol ‘@’ was introduced to make the way for email as we know it today.
By now you must be wondering, what does this have to do anything with Bitcoin ? My simple answer is that just like an email, which allowed us a bilateral communication between peer to peer, bitcoin allows us to do bilateral financial transactions over the internet between peer to peer.
Bitcoin is the hottest cryptocurrency in the market and it can be even used to buy goods and services. For instance, Expedia allows bitcoin payments for any of their services. We can see that bitcoin has established itself in the market and isn’t stopping. The more and more engagement there is between peer to peer with bitcoin, it is evident that bitcoin will settle itself in this financial realm even before we know it.
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