Blockchain Changes Mankind

Issuing time:2020-09-02 22:52

The essence of economic development is actually the process of continuous improvement of human efficiency in resource utilization. Since the beginning of the Industrial Revolution in the 18th century, science and technology have advanced by leaps and bounds, and the allocation of industrial factors has been continuously optimized, bringing great economic prosperity to human society.

Since the beginning of the 21st century, the development of basic science and technology has almost come to a standstill, and the impetus of science and technology to human economic development has become less and less. How to increase efficiency and reduce consumption, and how to stimulate economic growth by tapping into reserves, has become the new economic development strategy of every country. This has created a higher demand for the way human society is organized.

In 2008, the concept of blockchain was born. More than just an integration technology, blockchain is a new form of organization that is decentralized, information-sharing, and consensus-based. It is a social revolution that redefines the collaborative relationship between all people and all organizations. Blockchain technology will illuminate the prospects for economic growth for humanity.

The concept of blockchain is put forward to reduce the time cost and economic cost of carrying out the value transfer worldwide in the traditional way, and establish a decentralized internet basic protocol based on the method of pure mathematical algorithm, so as to solve the worldwide credit consensus problem.

The blockchain technology has been popular in the recent two years, and many people scramble for it, but the foam of speculation in the token market is great. Many people have not realized that blockchain may have a greater effect on the human society than what we have recognized. Most projects have failed to really understand the changing role of blockchain to the transaction system of human society from the underlying logic. Instead, blockchain is only regarded as a development tool or profit-making model. Obviously, the value of blockchain has been underestimated, but in fact, its value is more than that, and it has reshaped many social behaviors of humans in many aspects. Based on blockchain, the value of human’s commercial society will be redefined, the responsibility will be cleared faster, and the operation mechanism of financial services will be improved. More importantly, the trust system of human society will be strengthened in an unprecedented way, so that many problems will be readily solved.

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