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 In 2008, a person published a white paper from eight pages explaining in general the idea of ​​establishing an independent and decentralized electronic payment system that eliminates the need for intermediaries "banks".



This is how he called his blockchain-based system

In the same white paper, he explained how he made the system decentralized in order to ensure that no central authority controls it and harnessed it to serve its own interest ... Also, the system is open source and anyone in the world can see the programming code ...

When the system was launched, every person could make his personal computer part of the Bitcoin network and earn Bitcoin from the system as a reward for his contribution to the network. # The Bitcoin system is an electronic payment system whose digital currency is # Bitcoin and the system is the one who makes these currencies and distributes them to the participants in the network according to For their work to secure the network, which is the process known as mining ... When miners get these digital currencies, they sell them or sell some of them on currency exchange platforms to cover the electricity costs consumed by computers ... Ordinary users buy these digital currencies "Bitcoin" in order to do By exchanging it or just keeping it for many years because its value rises in the long run, the value of Bitcoin rises continuously because the inventor of the system chose to be the economic model of Bitcoin against inflation, meaning that the production of bitcoin diminishes with the passage of years ... and therefore with the increase in demand, the value of Bitcoin will increase and not the number of Bitcoin units While in government funds the number of securities increases, which leads to a decrease in their value # Bitcoin is more democratic in the distribution of value as it is when the value of Bitcoin increases as a result Its fight against inflation rises for everyone who has Bitcoin, while when central banks print more securities, they do not distribute additional securities to all citizens! Rather, it goes as a liquidity to stimulate banks and major companies, and thus Bitcoin preserves the value more than anything else, and in that it is similar to gold ... rather, it is called digital gold! Bitcoin is one application of blockchain technology, i.e. electronic payment ...

Here are examples of what can be done with blockchain technology:

Building decentralized applications

Establishing decentralized companies

Establishing decentralized financial markets

Establishing decentralized exchanges

Creating digital shares for companies and listing them for trading on decentralized exchanges. Establishing voting systems whose results are impossible to falsify

Governments create government digital currencies

Establish participatory governance systems

Create digital ownership contracts

Create a decentralized internet

Decentralized social media platforms

Commercial transactions contracts are automatically executed

Create a health database for every citizen a medical file


And at the end of the matter, any doctor can know the health history of his patient without the hassle of making a diagnosis every time

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