Why will this revolution continue, you ask?
As with any revolution, it will require a long-term plan.
“If the blockchain can help us solve many real-world problems in a very short time, it could change the world in ways we can’t even imagine,” said Andreessen Horowitz CEO Brendan Eich, referring to the decentralized, peer-to-peer technology that powers bitcoin.
Eich, who is also the co-founder of bitcoin exchange Circle, is bullish on the blockchain, which has been dubbed the Internet of Money and is already used in more than 90 countries.
The first blockchain, bitcoin, was created in 2009.
The technology, which allows transactions to be performed without a middleman, is now used in over 30 countries.
The blockchain can solve a number of issues, including preventing money from being stolen, improving the efficiency of the internet, and making it easier to track assets.
But for the most part, Eich sees the blockchain as a tool for the sharing economy.
“I think that the blockchain is going to be the new medium of exchange in the long run,” Eich said.
“There is a lot of potential in this technology, but it is not the only one.”
The blockchain has been a thorn in the side of Bitcoin, which is now the world’s most valuable digital currency.
While bitcoin has seen its value increase since its initial launch in 2009, it still faces criticism from some for being vulnerable to manipulation.
“People are still using bitcoin because they don’t trust the network,” said Daniel Siegel, CEO of Digital Currency Group.
“It is a really fragile medium of exchanging value.”
Eich believes that the technology can eventually replace the currency.
In the meantime, it has given people a better sense of what a blockchain really means, and a way to invest in its promise.
“The blockchain is a decentralized platform,” Eichi said.
“Its a way of allowing people to do more.
You can be in a position where you are a producer and the blockchain will let you do more than you would be able to do with a bank.”