I think many people in the Crypto space don't understand the power of Blockchain Technology. Here's a more deep dive into it.

Most people in the crypto world only think about the money (they aren't wrong for it), they don't really think about the technology behind crypto.

So if people inside don't really know, imagine all the remaining people that don't understand why cryptocurrencies and blockchains are useful, it leads to ignorance and total hate for everyone that is into the crypto space.

We've been seeing this hate all over the internet with NFTs. People completely hate NFTs because they think NFTs are only JPEGs being sold for millions.

So for you all that might enjoy this type of content, here's a little information on the Power of Blockchain Technology:

First of all, what is a Blockchain?

Well, to simply put, a Blockchain is a distributed database which contains chains of linked blocks that everyone can read, write but not alter any information that is already in there. Because the blocks are linked, they are secure. Imagine a blockchain that has the blocks: 1 -> 2 -> 3 -> 4 -> ... n, block 3 is linked by a hash with block 2, meaning that, to tamper with the block 2, you'd have to also tamper with block 3, but to tamper with the block 3 you also have to tamper with block 4.. so on and so forth. Its really really hard to tamper with a blockchain.

Blockchains can be compared to data bases, they store huge amounts of data, but the catch is that blockchain massively secures the data. We are talking about storing huge amounts of data without the risk of tampering, while being fully decentralized, secure and efficient.

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What can it be used for?

Banking and payments: Some banks like Barclays are already working on adoption blockchain technology to make operations faster, more efficient and secure.

Cyber Security: Blockchains are immensely secure, the data is verified using advanced cryptography, so it is extremely resistant to hacks or unauthorized changes. It removes the need for a middleman.

Supply Chain management: Blockchain can be used to document all transactions. It greatly reduces time delay and human mistakes. It reduces the costs, labor, waste and emissions.

It also can be used to verify the authenticity of the products by tracing them to the original source.

One example is companies are already using this to verify the products, by using the old method it takes about 5-10 minutes to trace it, while using blockchain technology, they found the source of a package within 2 seconds.

Forecasting: Blockchains can also be used to place and monitor bets safely, either that be in sports bets, stocks, elections etc.

Insurance: The global insurance market is based on trust management.

While it works, its not entirely functional.

Blockchain offers a new way of managing trust, because it can be used to verify many types of data in insurance contracts.

Cloud Storage: The data on centralized servers is vulnerable to hacking, data loss and human error, and by using blockchain technology, it allows cloud storage to be more secure, and robust against attacks.

Charity: Charity has a lot of complains when it comes to inefficiency and corruption, and it usually prevents the money donated to reach the main goal.

Blockchains can help to track the donations and see where they actually went to.

Voting: One of the most important areas of society that blockchain can help is voting.

Elections everywhere are usually accused of rigging results. Blockchain technology can be used for voter registration, verification, and vote counting. All of this being fast, secure and decentralized.

Government: Government systems are usually slow, opaque and prone to corruption.

Blockchain based systems can reduce bureaucracy and increase security, efficiency and transparency of governmental operations.

Public benefits: Blockchain can help assess, verify and distribute all the benefits securely. (EX: Unemployed benefits)

Health care: One of the challenges hospitals faces is the lack of secure platforms to store and share sensitive data. As you can guess, blockchain can help to safely store data like medical records and share them only to the authorized doctors or patients. It can help improve accuracy and speed of diagnosis.

Energy management: This field has been a highly centralized industry for a long time. Energy producers and users cannot buy energy directly from each other, and must go through the public grids or middleman. Again, blockchain can help with that via peer-to-peer transactions.

Online music: Blockchains can help musicians/artists to be paid directly from their fans without the need of an intermediary like youtube or spotify.

Smart contracts on blockchains can also be used to solve licensing issues and catalog songs with their respective creator.

Retail: When you shop you usually trust the retail system of the store or marketplace (EX: Amazon), decentralized blockchain based retail work differently, they connect buyers and sellers without middleman and associated fees.

Real Estate: There are a lot of issues in buying and selling real estate, examples:

Bureaucracy, lack of transparency, fraud and mistakes in public records.

Blockchain technology can speed transactions by reducing the need for paper-based records. It can also help with tracking, verifying ownership, ensuring accuracy of documents, and transferring property deeds.

Crowdfunding: Crowdfunding has become a popular way and method of fundraising for new startups or projects. There are crowdfunding platforms that create trust between the creators and supporters, but they charge HIGH fees.

In blockchain based crowdfunding the trust is created through smart contracts and online reputation systems.

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And much more. We are so early into blockchain technology, and we have so much more to learn and apply this new technology...

Every sector you think about that stores data and manages transactions, blockchains can be a huge help.

You can find all of this on youtube video and google searches.Most of this I learned in the internet.