Estimated reading time: 2 minutes, 30 seconds
On January 16th, the founder of Blockchain WTF, Taylor Gerring, was interviewed on Chicago Tonight!
The topic of discussion was the revolutionary potential of blockchain technology and it’s many possible applications.
Taylor founded Blockchain WTF in May of 2017, after spending many years involved in the blockchain industry. He has spoken internationally at many events, and also does international blockchain consulting. Before that, he co-founded the Ethereum Foundation, which is the Ethereum non-profit that manages the administration and development of Ethereum.
Taylor is a well-rounded expert on the technology, and deeply believes in it’s potential to drive us to a better future! (Check out his series, Ask an Expert on our site for some simple explanations of complex blockchain concepts!)
A blockchain is a distributed ledger, often referred to as distributed ledger technology. It is not maintained by any central entity, but rather is decentralized and distributed throughout nodes within a network. This network maintains the ledger and records a permanent history of transactions. The original innovation of this technology is bitcoin, which was initiated in 2009 (check out our article by Jeremy on the unrealized potential of the technology).
Check out our quick and simple video, where we explain blockchain technology!
Other developers furthered the idea of a “peer-to-peer electronic currency” in recent years, by enhancing the properties of the code, to allow more applications, such as smart contracts and dApps; for example, Ethereum.
Today we see a great boom in blockchain development, where projects are developing platforms and applications that allow us to track land registries, quicken bank transfers, enhance privacy in transactions, manage digital assets, sell energy generated, reward gaming activity, implement sharing economies, and so much more (there are literally hundred more…)!
This process will only continue, and innovation will only prosper with new ideas for development of these networks to enhance our daily lives and interactions. Taylor definitely has a good grip on how this may evolve in the near future and where blockchain technology will take us.
Hear his ideas on how blockchain technology will be entering our lives and traditional systems by watching his original interview on Chicago tonight: “Bigger than Bitcoin: The Revolutionary Potential of Blockchain Technology.”
From Taylor’s interview:
“I do think blockchain technology, in some form, will become so prevalent in all aspects of our lives that we won’t think about it.”
Blockchain WTF is an educational resource to help you navigate all things blockchain technology. We are passionate about fixing the Internet and the potential of this technology to create socially beneficial outcomes for citizens of the world, no matter your location. Check out our site, Blockchain WTF for any information on blockchain technology and cryptocurrencies, and let us know if you ever have any questions! We are here to help drive understanding and the adoption of these technologies to create a better future, which we are all apart of!