William Toth has been a successful entrepreneur for more than twenty years and is a big fan of utilizing technology to help his clients build their wealth. Revolutionary and ingenious, block chain technology is the brainchild behind the person (or persons) who created Bitcoin.
Briefly, blockchain technology has created a new type of internet by allowing digital information to be distributed without being copied. Originally designed for Bitcoin, many individuals within the technology sector recognize the potential for its use in creating other kinds of digital value.
Information held on a blockchain exists as a shared and continually reconciled database. This way of using the internet has obvious benefits because the blockchain database is not stored in any single location (so the records it keeps are completely public and easily verifiable). Further, because there is no centralized location or version of this information that exists, it is impossible for it to be corrupted via hacking. The information is all hosted by millions of computers simultaneously so the data is accessible to anyone on the internet, and at any time, writes William Toth.
Since its invention a decade ago, the Bitcoin block-chain has not been impacted by any significant disruption. (To be clear, reported hacking and mismanagement of funds were problems that were created by individuals with bad intentions or due to human error.) Likewise, the internet has an almost thirty-year record of accomplishment to prove its durability and viability. As block chain, technology continues to be developed, expect to see it used in other new and exciting ways, says Mr. Toth.
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William Toth 