Great work guys!! It really helps in understanding block chain technology, which can be used in other sectors as well.. Hoping you would make another video, explaining about usage of block chain in different sectors.
As someone who has spent a lot of time reading about blockchain, I thought this was a great overview for people getting started on the topic. Thanks for sharing!
Wow, that was such an exciting and informative video on blockchain! It's amazing to see how it is transforming various industries, the potential for streamlining processes, reducing costs, and enhancing transparency is truly remarkable.
The future is decentralized, which is ironic because it is regressive at its core. Decentralization is essentially the reversion of many of the impacts of the industrial revolution. Do we think that decentralized currency will solve global issues, since we will no longer be tied to our nation's economy? Will borders dissolve and nuclear warheads be dismantled? Or will we simply be entering a new era, where those who hold the most decentralized wealth hold a new kind of influential power? Certainly offers food for thought.
What do you think about the environmental impact of blockchain technology and cryptocurrencies in general? From my understanding, the blockchain processing requires brute force processing of hashes to solve the next block and grow the chain, but this processing is largely wasted effort as it only serves to mine the block. If there were large scale adoption of blockchain technology, it would consume far more energy and cause further environmental damage. I'm also curious about nefarious and malicious actors who could corrupt the blockchain. This would be especially important for smaller implementations where there are only a few miners, such as perhaps an individual companies implementation (ie Walmart). If a malicious actor had enough computing power (or bots) to throw at the blockchain, they could take over and add their own immutable records to the chain instead of the "legit" transactions. It scares me to think about putting private medical data on a blockchain. Isn't the whole premise behind blockchain that the data is public? What prevents someone from taking my medical record blockchain and decoding it for their own purposes, or do I just have to rely on the security of the medical providers?
