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Showing posts from November, 2017

Blockchain Technology

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Blockchain Technology
Financial technology (Fintech) has a long history of innovation, but there have been interesting changes now that Bitcoin has demonstrated the possibility of having a trustworthy system even when dealing with untrusted parties. It has taken Bitcoin quite a few years to earn the level of trust and acceptance it has today, but it serves as an existence proof that this level of trust is both technical and socially possible. This is what the altcoins and other blockchain technologies are banking on. They want to be viewed as being secure and trustworthy just because they share some things in common with Bitcoin, such as a distributed ledger. Filecoin allegedly raised over $257 million despite the fact that Storj, Sia and MaidSafe already had working products for distributed data storage on a blockchain. It’s unclear why investors chose Filecoin. Perhaps they feel that there needs to be big money behind a technology so it can be promoted and become the dominant soluti…