The New Digital Currency Movement Essay

1867 Words Nov 23rd, 2016 8 Pages
In a world where information is at your fingertips, privacy and security are the new luxury. The question then is posed as: How do we deal with the issue of trust and find a solution that will make us feel safe online? The Blockchain could be your solution. What is the Blockchain? The Blockchain is said to be a product of the new digital currency movement however others will argue that cryptocurrencies are a direct result from the blockchain design. Let’s explore further and then you can determine which came first.
I will start by explaining the development of the blockchain followed by the purpose and process in which it operates. Then, I will explain the blockchain in relation to cryptocurrencies and give a brief description of the top cryptocurrencies. Additionally, I will give an analysis on the influence cryptocurrencies and the blockchain will have on businesses strategies. Furthermore, I will provide an analysis on the impact the blockchain and cryptocurrencies will have on the real estate industry followed by the health care industry. I will then conclude with an exploration on the validity to sustain this new technology we’ve come to know as the blockchain.
The development and purpose of the blockchain
The blockchain and the “principle theories of blockchain architectures used today were first outlined and defined in the original bitcoin white paper written and published by Satoshi Nakamoto in 2008” (“BlockchainTechnology”, Oct. 2016). Alan Morris posted a detailed…

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