The blockchain economy is a new alternative to the Google model of how Internet commerce works. With blockchain, you can buy something from anyone, and it’s safe and completely private. The blockchain records every transaction that anyone makes using a particular cryptocurrency.
Who you are, what you bought, and who you bought it from are sealed in a little electronic “box” of information, locked by a code, and linked to a giant chain of little information boxes. This makes a chain of blocks – a “blockchain.” You don’t have to go through a bank, or even through PayPal, because you use bitcoin instead.
Tags: George Gilder, Life After Google
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