Imagine a future where "fiat" currency, ie. paper money such as the USD or the CAD, will eventually become a thing of the past, and payments for goods and services will be done almost entirely through the form of digital transactions via electronic mobile devices such as your mobile watch, or your smart phone.
Well I have news for you ladies and gents, that future might be closer than you may think and here's the reason why: In early 2008, various media sources reported on the creation of a technology called the "Blockchain", a term that was first coined by it's creator, a supposed individual, or organization, known only as Satoshi Nakamoto.
Fast forward today, that same technology is revolutionizing, and not to mention, disrupting the very foundations of our World Monetary System, of which we've grown so accustomed
Ladies and Gents, to simply put:
A blockchain is, in the simplest of terms, a 'time-stamped' series of 'immutable' record of data that is managed by cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) are secured and bound to each other using cryptographic principles (i.e. chain).
So, what is so special about it and why are we saying that it has industry disrupting capabilities?
The blockchain network has no central authority — it is the very definition of a democratized, and decentralized system. Since it is a 'shared' and immutable ledger, in other words EVERY activity and interaction involving the BlockChain in cyberspace is recorded and shared, and the information in it is open for anyone and everyone to see. Hence, anything that is built on the blockchain is by its very nature transparent and everyone involved is accountable for their actions.
Now what does this mean? Well, essentially the creation of the BlockChain is comparable to giving birth to Artificial Intelligence. Ladies and Gentlemen, Cryptocurrency only came after the creation of the BlockChain since the technology is capable of maintaining and operating a New Age Digital Monetary System with out the need for any human accounting or processing. Artificial Intelligence is paving the way for Automation. The BlockChain is the single most important invention since the creation of the Internet and Electricity.
LADIES and GENTLEMEN, the BlockChain AI and Cryptocurrency is the NEXT EVOLUTION in our monetary system. It is absolutely MIND BOGGLING to think of the implications of this technology in the future when it has been fully adapted and interwoven into the very fabric of our everyday lives. It will eliminate the need for credit/debit cards, and fiat currency as we know it. It will eliminate the need for a Manned Banking System, and automate possibly even our Judiciary system; how crazy is that? For these very reasons, Ladies and Gents, we at RoyalKure are passionate about bringing awareness and education on this particular subject to our RoyalKure community. Stay educated, stay informed!