Facebook has also launched Blockchain Research Group which is headed by former president of PayPal just few days ago.

Blockchain is going to be massive revolution in Technology and every big Tech company is in Silicon Valley is working on Blockchain including Google, Microsoft, Amazon and Apple has also launched and patent his projects on Blockchain in 2017, for distributed ledgers.

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Blockchain Explanation:

A blockchain is a peer-peer decentralized, distributed and public digital ledger which can record all transaction across multiple electronic devices which can be seen by anyone and these transactions cannot be removed or altered.

Blockchain allows consumers, customers and suppliers to connect directly to each other without the involvement of third party and everyone can see transactions because of decentralized database.

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Why Blockchain is so revolutionary:

Blockchain is the next generation of the internet and it’s Applications will impact for every business, society and individual. Its potential uses are almost limitless like it can be used in Finance, Technology, Law, Intellectual Property and many other areas of life.

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Who is using it:

Blockchain was initially developed as the accounting method for the digital currency BitCoin which was developed by an unknown under the name Satoshi Nakamoto in 2009 and now all cryptocurrencies are developed by using Blockcahin technology and all Cryptocurrency transactions are constantly growing as completed Blocks and recorded in chronological order.

There is a theory, if Blockchain established on mainstream then anyone who has internet access would be able to use Blockchain technology for making transactions.

Millions of dollars have been invested in Blochchain Technology by big organistaions, financial institutions and tech companies in the world including Google, Microsoft, Amazon and Apple, Facebook, UBS, Microsoft, IBM and many more.

Steemit is also using Blockchain technology which is already making huge impact on so many internet users life.

Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.
~ Vitalik Buterin

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