MY BLOCKCHAIN/CRYPTO JOURNEY

In 2018, my friend asks me to join a WhatsApp group where people make some Internet Money by filling Airdrops. I was so fascinated for the extra cash, so, I joined the group. In this group we would scout for new projects on the crypto ecosystem. Especially those doing Bounty Airdrops by performing simple tasks and they would in return give us their token and we would immediately look for the exchange where it was listed to HODL and/or “DUMP”; or rather, sell for Bitcoin or Ethereum value.

This is what we do in this Airdrops group. Not until my appetite gets bigger for more rewards like that of “Oliver twist”, that I wanted to do more tasks for forthcoming projects that I started creating content. Due to my research prowess, I now discovered that there was a nexus between the realm of Crypto Token Airdrops and the Blockchain technology. My first content writing task was with Blocscart marketplace, Sparkster, Hydro Protocol etc.

At this point, my interest now moves beyond just Bounty tasks to the Blockchain and it’s uses. I started digging further to know more about the Blockchain technology.

Blockchain has the in-built capacity to revolutionize different sectors and ecosystems in which trust is required among different groups with different interests. It goes further to say that, it minimizes conflict, reduce corruption and can track transactions in a secure, transparent and decentralized manner.

Blockchain has the following areas of usability:

· Tokenization and Digital Assets;

· Blockchain Security and Interoperability;

· Blockchain Policy Regulation and Law;

· Blockchain Leveraging Data;

· Smart Contracts automation;

· Digital Identity;

· Decentralized Governance and much more.

One of the major distinguishing factors of Blockchain is the decentralization, which have a vital impact in security governance. Even though there is no absolute security in the open-source space, a sizeable amount of control, data collection and differentiation; privacy and transparency can be actualized. Different Blockchains are emerging even at this early stage of adoption, 95% of them are better alternative to traditional databases in terms of trust.

For cryptocurrencies, beyond price and financial fluctuations, provide a diversity of use cases with their respective Blockchain networks such as:

· Base Layer Blockchain where cryptocurrencies are created, stored and transferred over different chains;

· Second Layer Protocols which are built on the base Layer Blockchains with different features and use cases.

As a result of these two layers, further gave rise to DeFi, financial services and products that help consumers, investors and businesses to interact with and access cryptocurrencies and other associated networks.

2020 was the year cryptocurrencies or rather “internet money” gained more adoption. Major entities, such as PayPal and Square entered into the “Airdrops” just like I did in 2018. JP Morgan recognized it as an important asset and major CEO’s, like Black Rock, said the Blockchain and cryptocurrencies is here to stay. Ex-Goldman Sachs banker, Raoul Pal, went in. Other investors, like Paul Tudor Jones, Stan Druckenmiller invested.

The whole point about Blockchain in to provide a novel means of interacting globally in a trustless and decentralized way. Whether, Public or Private Blockchains this technology built on the internet and backed by cryptocurrencies has the potential to transform enterprises, solve problems and offer much value to the entire human race.