Several years ago I remember reading about bitcoin in a Wired magazine article. At the time, I was exploring an idea for a business that involved developing a proprietary digital currency as an essential part of the business model. Upon reading the article, I assumed that bitcoin was essentially just another virtual currency like so many that already existed and didn’t think much about it beyond that.
Skip ahead to a few years ago… I came across another article about bitcoin that gave more depth into how it actually works and why it’s NOT just another virtual currency. It described the Bitcoin network and the Blockchain. After taking a few days to wrap my head around the concept, I finally had that “ah-ha” moment and have been engaged and fascinated by it ever since.
I plan to write more on the topic of bitcoin and the blockchain but for now, if you have 10 minutes, take a look at the video below. The speaker does a great job of explaining why bitcoin isn’t just digital money like so many people think it is. He explains why the blockchain (which is dependent on bitcoin and vice-versa) truly has the power to change everything.