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BLOCKCHAIN for the non-technical

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What is Blockchain? What can(not) it solve? Industry by industry Impact of Blockchain

If the barrier to entry is the big issue for cryptocurrencies then education (or lack thereof) is the big issue for Blockchain Technology.
Highlight and Share any textToday we join those that are working toward demystifying the Blockchain Technology for non-technical folks. This whole segment will continue to be updated with all the different topics listed below (and more added as we go along).

In this segment we will learn:

Interview logoWant us to interview your favorite CEO/Executive? Tell us who and why in comments.

In EACH of these industry-specific Blockchain segments, we will explore: 

  • Blockchain use cases in that particular Industry
  • Hurdles to overcome for blockchain adoption in the Industry
  • Companies that are already using Blockchain in the Industry
  • Interview with an industry expert in the space

The next frontier in the Blockchain Evolution: 

Security Token Offerings
Tokenizing: Making illiquid assets liquid

Subscribe buttonSubscribe so you don’t miss the industry expert insights. Do not worry, we never send more than 1 email per week (not even that). 

What is Blockchain Technology?

We explained in detail what Blockchain is in a previous article. For sake of continuity, let’s define what Blockchain Technology in this article, using a simple example.

In the good old days, we used to keep all records in a handwritten ledger book. It was very difficult to tamper the entries in the book without a trace. However, because this book was maintained by one or a few people – you can never be 100% sure about the integrity of the entries made.

Let’s say, every time a new entry is made in this ledger book, we made 100 copies and these 100 copies were held by 100 different people spread out geographically.  When someone tries to tamper a previous entry, a copy of the updated ledger book is sent to these 100 validators and they can immediately see that there is a change in a previous entry that does not reconcile with their copy.

Because the consensus between these 100 validators cannot be obtained, the change made in the ledger book is negated.

This system ensures that once an entry is made, it is never changed.  If there is a change that needs to be made to the original entry, you simply make a new entry at a later date referencing the original entry. In which case, all the 100 validators will agree with it because it did not alter previous entries in their copies.

How can you make sure that some random person is not making these changes to the original ledger book? Well, that’s where the handwriting comes into play. These 100 validators not only check for the integrity of historical data against their copies, but they also check whether the handwriting matches. What is Blockchain
To translate the above simple example into Blockchain Technology terms:

Think of Ledger book as a database, entries made as transactions, copies as the copy of the database maintained by everyone connected to the database, handwriting as cryptography, the validators in our example as the nodes (computers connected to the network) and the process of reconciling/agreeing on changes as consensus.

Blockchain then is a decentralized database that is connected by multiple nodes, each node maintains a copy of the entire database, every time a new transaction is entered into the database by anyone connected to the database, it is checked against the copies on all the nodes connected to the network. If the database copy matches with the copy maintained by the entire network and the cryptographical signature are accurate – then the consensus is obtained with all the nodes. Once consensus is obtained – all the nodes update their copies of the database, thus a new entry is entered.

Simple, right?

As you can see, none of the old entries can ever be tampered with, leaving blocks of information that remain immutable.  These blocks are linked with each other by a cryptographic signature.  You tamper one entry, and the cryptographical signature of all other blocks is altered, and when that happens the tampered entry is rejected and the whole database goes back to its original state.

Because the blocks are chained together with cryptographical signature, the term BlockChain came into being.

The technology that enables this consensus mechanism using cryptographical validation is Blockchain Technology.

A bit of jargon before we move on:

  • Hash: Hash is the alphanumeric (mostly 32 characters) string that acts as the cryptographic signature
  • Mining: The act of participating in the blockchain network to process and confirm the transactions, most blockchain networks need special equipment with high-end computing speeds

What is Proof of Work?

In our example, we said that all the 100 nodes (computers) that are connected to the database validate any changes made to the database by comparing their own databases and matching the cryptographical signature. This means these nodes are doing the work of validating.  Whichever node confirms that the transaction is either valid or invalid after the consensus is obtained from the network, is said to have done the work.

A node that validates the transaction gets a small-fees from the network, as a proof of work performed.

There are other forms of consensus mechanisms, such as, proof of stake, which gives rights based on the ownership of the network instead of a number of nodes.

What is a 51% attack?

In our example, we had 100 validators.  Every time a transaction takes place, to wait for all 100 validators to confirm the transaction takes too long. In the real world, there could be thousands of nodes. For instance, the Bitcoin core has over 10,000 nodes running at the time of this writing. To avoid delays, a democratic approach is embedded in the consensus methodology.

That means, if 51% of the nodes confirm a transaction, that transaction is committed to the network and the databases of the other 49% will be updated with the changes committed to the network.

This is where things get interesting.

There are many blockchain technology solutions available. Some of them are public blockchains and others are private blockchains, there are others that are in between.  We will look at how they differ in a bit, but for now, a public blockchain is accessible by anyone with the right equipment and internet.

Let’s say, on a particular public blockchain technology of your choosing there are a total of 10 nodes. Someone with a malicious intent connects 15 of their own new nodes to this public blockchain.  What this means is that this individual or group can manipulate the entire blockchain since they control more than 51% of the nodes.

This is one of the reasons why companies are choosing private blockchain where every node is handpicked.

There is an argument that private blockchains do not fully realize the true potential of what Blockchain technology can offer.

What is a Public Blockchain?

A Public Blockchain is a blockchain network that anyone with a computer and internet can access.  For instance, you can go to Bitcoin.com or Ethereum.com and join their network, and if you have the right type of equipment, you can even start contributing the hash power to the network.

For instance, you can go to Ethereum.com or Bitcoin.com and start participating in the blockchain network and get paid out fractions in their native currency.

But Public Blockchain’s utility doesn’t end in earning fractions, it spans a much broader landscape.

Many Decentralized Applications (DApps) are built on these open Public Blockchain networks.  When they launch their DApps on these public blockchains, they automatically inherit the massive security of the Blockchain that they are operating on.

This means an individual or a small entity can leverage the massive network strength without shelling their pockets out.

One day, we may find a broader use case for Public blockchains in healthcare, Government operations, money transfer, loyalty programs, etc.

What is a Private Blockchain?

Most companies realize the potential of Blockchain technology, they just don’t like the idea of putting their information out there.

This translated into creating blockchains that access restrictive. This means companies can utilize all the great features of Blockchain while keeping their information safe.

They can also specify who gets participate in their network since most of the participation is based on ‘invite only’.

Private Blockchains, although great, they really do not realize the true potential of blockchain because they lack the strength and transparency of a bigger blockchain. Alex Mashinsky  in our interview mentioned that “those that are working on Private Blockchains are wasting their time.”

In the technology world parlance, Public Blockchain is like the Internet, anyone with the right device and connection can join in. Private Blockchain is akin to the intranet, only those that are connected to the server can join in.

What is a Hybrid Blockchain?

A Hybrid Blockchain is where some parts are accessible by everyone and some parts are restricted for the public. For example, the public may have access to ‘view’ but not edit.  Only a few authorized individuals may have ‘edit/write’ access.

This is a good model for bringing Government related services on to blockchain where you want everyone to be able to ‘view’ Government activities without having access to edit the information.

For instance, identity management could be a good government service that can benefit from Hybrid Blockchain model, everyone with your specific address (or Bar code) can verify your identity but they will not be able to change it.

How does blockchain promote decentralization?

It is important to note that only Public Blockchain protocols are decentralized. Private blockchains are not decentralized.

Public Blockchain achieves decentralization by being accessible to anyone with the required equipment. People with requisite technical skills can see the information committed to most applications launched on these public blockchains.

The idea of accessing the strength of a massive network to launch your own Applications without having to pay the toll for doing so creates an environment where people want to build things that help the public at large.  If in return – creators of these applications are rewarded, well, that is commendable.

The feature of immutability instill trust in people that transact on the public blockchain, this trust leads to skipping the intermediaries (like banks or agencies) that used to play the ‘trust’ role earlier.  Because Blockchain is accessible globally, theoretically, it opens doors to transact with anyone from anywhere.

Trust, circumventing intermediaries, being accessible globally and lack of barriers to entry all help Blockchain promote decentralized commerce.

What are the benefits and shortfalls of Public and Private blockchains?

Public Blockchains are readily accessible, easy to launch your DApps on.  They are also relatively resilient to 51% attack since it takes a lot more computing power to break down some of the big networks.  Public Blockchains truly reflect the spirit of Blockchain.

When you participate in a more popular Public Blockchain, you are competing for processing power, this means, you may have long wait times.  Many businesses cannot afford this kind of wait time. You have to pay a premium to cut the line, this can easily eat into the company’s revenue.

Lack of privacy is another drawback of Public Blockchains.

Private Blockchains are restrictive and are not for broad use.  Since the resources are managed privately – there is not a long wait time to process the transactions like we have in Public Blockchain.  Safety of information can be ensured since you grant access to only trusted parties.

Private Blockchains may help companies but they do not instill the ‘trust’ factor which is the cornerstone of Blockchain revolution.  Collusion is a possibility in Private Blockchain.

What is Cryptocurrency?

what is CryptocurrencyMost people know Bitcoin as the king of cryptocurrencies, but what they may not realize is that Bitcoin also represents the Blockchain.

In its own right, Bitcoin is the first publicly accessed Blockchain with its own fuel/currency to run the network, the Bitcoin cryptocurrency.

What then is a cryptocurrency?

As we learned before, for Blockchain to work, we need computing power. Computing power comes at a cost.  Each Public Blockchain has its own fuel to reward the computing power contributed. This reward that represents a fraction of the value contributed to the Blockchain platform. That reward itself is the Cryptocurrency.  This process of providing computing power (hash) to solve a cryptographic puzzle of sorts is called mining.


In true sense, cryptocurrency is a real earned money! Although it is earned by the computers instead of by physical human labor.

Cryptocurrency is then a byproduct of Blockchain. Blockchain can survive without cryptocurrency but all forms of cryptocurrencies need some Blockchain basis to it.

What makes Bitcoin a store of value is the limit on its total supply. In the end, only 21 million Bitcoins can ever exist. Of these, almost 4 million are lost due to access, hardware issues, ignorance or any number of other reasons.

Not all Cryptocurrencies are mined, though.

Some blockchains pre-mine, that is, issue their platform currency and sell them for fiat currency for operational needs. When someone wants to use the services on their platform – they are then required to pay for such services in the pre-mined currency. This type of currency is known as utility tokens.

Utility tokens because their value is dependent on their usability on the platform. If the platform does not succeed – their value may become zero.

SEC has been warning companies that sell the pre-mined utility tokens that such utility tokens will be regarded as ‘securities’ and not complying with securities laws while issuing utility tokens will have consequences.

How are Blockchain and Cryptocurrency different?

Blockchain and CryptocurrencyCryptocurrency is a byproduct that acts as the fuel to encourage people to provide their processing power.

Blockchain technology can run without cryptocurrency, however, Public Blockchains usually rely on the reward (cryptocurrency) to allure people to commit their computing powers to the network.

Why are companies interested in Blockchain but not Cryptocurrency?

Business adoptionAs discussed earlier, cryptocurrency is a fuel that encourages people to commit their computing power to run the network.

However, since most enterprises do not want to share their information – they favor Private Blockchains.  Private Blockchains do not need Cryptocurrency.

Because of the negative press around Cryptocurrencies and securities boards, action against companies that issued cryptocurrencies (in the name of utility tokens) – companies of repute are trying to steer clear of the tag ‘cryptocurrency’ with their brands.

What does Blockchain solve?

Advantages of BlockchainBlockchain revolution started on the basis of many promises, however, its core promise comes from the technology’s ability to instill trust through immutability.

As we learned earlier, you cannot tamper with the entries once committed to the Blockchain, you always leave a trail that is there for anyone to see.  This instills a new level of confidence in the data that was not available in the traditional databases.

This deceivingly simple ability of immutability can one day help solve the issues of counterfeit, helps conduct intermediary less commerce, cover-ups, etc.

What Blockchain cannot solve?

Blockchain cannot stop bad players from taking advantage of people. Since anyone can access the network, not everyone that is accessing the network comes there with good intentions. There have been many ideas that were ‘proposed’ to be built on blockchain only to empty people of their hard-earned money.

Even with Blockchain, you need to know who is behind a particular project or initiative. If they are trustworthy people then they will build things that utilize the immutability and trust factor of Blockchain.

“Customer beware” applies to blockchain space as well.

The blockchain is NOT foolproof, literally. Human errors do cause mayhem in Blockchain.  Blockchain cannot save itself from 51% attack (people have to) that we talked about earlier.

Blockchain space is also prone to a lot of FOMO and FUD, that is short for Fear Of Missing Out and Fear Uncertainty and Doubt. The only antidote to these vices is education and knowledge.


What is a smart-contract?

Just like Blockchain, the term smart contract is not a new one. Nick Szabo used the term smart contract in his thesis dated 1996 titled “Smart Contracts: Building Blocks for Digital Markets.”

what is smart contractNick explains “New institutions, and new ways to formalize the relationships that make up these institutions, are now made possible by the digital revolution. I call these new contracts “smart” because they are far more functional than their inanimate paper-based ancestors. No use of artificial intelligence is implied. A smart contract is a set of promises, specified in the digital form, including protocols within which the parties perform on these promises.”

To break it down, a contract that can be executed by the system automatically upon fulfilling a set of agreed-upon conditions can be termed as a smart contract.

Nick’s vision to create instant, cheap and efficient smart contracts was just a theory in 1996, however, with the advent of Bitcoin Blockchain, that vision has taken shape.

Contracts executed by the systems on a Blockchain are forever immutable – which advances the trust aspect.

What is Initial Coin Offering (ICO)?

“A healthy dose of skepticism is always good. This bear market is forcing investors to demand more than just a colorful whitepaper,” said Dr. Jemma Green of Power Ledger during our interview.

Unfortunately, that wisdom was too late to arrive for many investors (including us) who invested in Initial Coin Offerings (ICOs) and lost a ton of money, including life savings.  Billions of dollars were raised using ICOs.

ICO model has indeed the paved way to raise capital for great ideas to change the world but no capital.


An ICO is where a company pitches the idea to the general public. If the public believes in the idea, they can contribute whatever is the minimum contribution, usually, the minimum contribution is very low to enable small investors to be able to join in. ICOs are different from crowdfunding on many fronts but one defining difference is that most ICOs are primarily used in the Blockchain space and accept cryptocurrencies as an investment.

ICOs opened up an avenue for raising capital for people and companies that may otherwise never been able to raise the capital.

Another beauty of an ICO is – people from all over the world can contribute capital into ideas they like.  There are few countries that specifically prohibit companies from accepting investments from their Citizens (for example, the United States, China, Singapore, etc.).

Although the idea of ICO has caught bad press in the recent year due to many bad players that scammed people out of their hard-earned money, the concept itself is quite an amazing one. The concept of ICOs will eventually help change the face of traditional capital markets through Security Token Offerings.

Security Tokens are similar to utility tokens issued in an ICO, however, security tokens follow the securities laws of the land instead of circumventing.

Because they are supposedly legal, big businesses can enter into them once the complete framework is made available by the respective authorities.

We use the word ‘supposedly’ since the legal framework within which Security Token Offerings can be issued is not readily available.  Most companies are working within the confines of exceptions and exemptions available in the securities law but a separate Security Token guidance or framework is yet to see the light of the day.

Industry by Industry impact on Blockchain

  • Blockchain and Law (upcoming)
  • Blockchain and Healthcare (upcoming)
  • Blockchain and Real Estate (upcoming)
  • Blockchain and Insurance (upcoming)
  • Blockchain and Supply Chain (upcoming)
  • Blockchain and Financial Services (upcoming)
  • Blockchain and Energy (upcoming)
  • Blockchain and Charity (upcoming)
  • Blockchain and Government services (upcoming)
  • Blockchain and Gaming and Gambling
  • Blockchain and Your Data Rights (upcoming)

Do you have a favorite CEO in Blockchain space who you would like us to interview? Tell us who and why in comments.

Thank you for reading the article.
Subscriber-Banner-smallIMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

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About the author

RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.

RK Reddy is an ardent fan of Blockchain and Cryptocurrencies. You can see the excitement about this new blockchain technology in every article on Cryptotapas.com. Sometimes this excitement leads to an overly optimistic view. Guilty as charged. RK Reddy says what may seem like an ‘overly optimistic expectation’ today may become an everyday norm in 5-10 years; look at the history of cars or airplanes, Blockchain and Cryptocurrencies belong to a similar frame of reference.”  Of course, that is just his opinion.


CryptoSpace

Transforming Data Center Infrastructure With Blockchain

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Blockchain Infrastructure

Cryptocurrency – just hearing the name – can spark discussion topics on how innovative and controversial it is. However, nowadays, there seems to be a consensus that blockchain – the technological backbone of every form of cryptocurrency – is the former. The latter part of the discussion comes from the fact that cryptocurrency is still new, and needs more improvement, before it can actually be considered a wildly-accepted type of commercial (public) currency.

On the bright side, companies like Google and Goldman Sachs have already started to invest in various blockchain firms. And, it’s expected that sometime in the future, more big-name companies will follow suit, if cryptocurrency succeeds. Therefore, data centers and cloud hosting services must be ready to serve these new blockchain-based companies, as well as their needs, in the coming years.

So, you may be wondering: How did we get here? 

How Did It Start?

Modern blockchain started in 2008 with Bitcoin, which is a peer-to-peer Electronic Cash System. This white paper was a form of cryptocurrency that could live on a distributed network without any centralized authority; and blockchain is the technical backbone of that system, or a distributed digital ledger or database for it. No central authority will be able to manipulate the blockchain, since the whole network contributes to its creation and maintenance.

How It Works

In blockchain, two parties will make a transaction, to which they advertise it to the network. Then, various network nodes pick up multiple transactions, and arrange them into blocks. Afterwards, miners will use computers to add this block to the ledger (or blockchain).

Now, in order to add these blocks to the blockchain, the task requires a lot of computing power. Why? Because each of these blocks come with a sort of attached mathematical puzzle. And, to solve these puzzles, they need computing resources. But don’t worry: these puzzles are what miners are interested in, because they’re usually rewarded with tokens, just for adding a block to the blockchain.

Before the existence of blockchain though, business transaction would’ve been made through a trusted third-party company (i.e. a bank or a government institution), in order to guarantee the integrity of a transaction between two parties. However, blockchain eliminates that need by opening up the possibility for business transactions between parties worldwide, without the need for any financial or government institutions to step in. 

What Blockchain Means For GPUs

The need for blockchain means elevated demand for graphical processing units (or GPUs). As blockchain calculates, miners will have to provide enough computing power for it. And, as cryptocurrencies and blockchain-based applications become more popular, the higher the demand for computing power. That’s where GPUs come in, since blockchain-based calculations are best performed on these units. 

Data centers and cloud-hosting services will also have to look into AMD and NVIDIA graphics cards, in order to better serve the blockchain market; however, these graphics cards can be pricey. And, they’ll have to better optimize their infrastructure to be GPU-compatible.

Concerns?

The most controversy that cryptocurrency has faced is its vulnerability to possible hacking schemes. One can argue that there are major concerns about blockchain hackers taking – or planning to take – advantage of the fact that cryptocurrency doesn’t have enough protection yet to sustain itself, in case of a security breach that can cost millions.

Concerns on cybersecurity for data centers, in that case, seems to have spawned from cryptocurrency market’s promise of immense riches and overnight successes, to where anyone – including bad actors and hackers – will create an ever-growing threat in the cyber realm.

“One example of hacking of cryptocurrency was in January of 2018, when hackers were able to steal more than $500 million (or £380 million) worth of cryptocurrency from the Tokyo-based cryptocurrency exchange Coincheck,” adds Barnard. “Thus, that story, to this day, serves as a warning to what can happen, if cryptocurrency is unchecked. And, this story has many people concerned about whether cryptocurrency is safe to invest in or not.”

Conclusion

As you can see, data centers will have to go above and beyond to better accommodate the growing trend of cryptocurrency. And, to do so, they’ll need a good functioning digital infrastructure, to handle blockchain systems and increasing data processing demands.

This need for the right data center infrastructure is also increasing, since blockchain is expected to greatly impact the following:

  • Finance
  • Healthcare
  • Government
  • Transportation
  • Manufacturing
  • Medicine
  • Logistics
  • Other various industries 

Thus, it’s absolutely necessary for data center service providers to stay competitive, when it comes to such changes in technology, including blockchain. Ultimately, with an up-to-date infrastructure for blockchain to work on, data centers will be able to be sustainable, regardless of any changes and or developments made in the tech world for many years to come.

Author’s Bio: Katherine Rundell is a writer and editor at UK Writings and Academized. In her spare time, she likes to travel to different states, give special talks in various business training courses, read her favorite books (ranging in different genres).

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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5 Best Crypto Movies To Learn Crypto From

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Crypto Movies

Bitcoin has been around for 10 years. As a result, there are many people who will keep tabs on it and cheer for its modern successes. So today, we want to celebrate along with crypto fans by bringing you a fun article about the topic.

If you thought that cryptocurrency is all business, business, business – well, in actuality, crypto has also made its way into cinema. Yes, in this article, we’ll show you the 5 best movies that involve Bitcoin, crypto, and blockchain. And, the good news is, you don’t have to read really long articles that talk about crypto, when you can watch a fun movie instead!

So if you want to gain a bigger understanding on what Bitcoin is, and why it’s so important in today’s world… or if you want to educate others on why Bitcoin is NOT something out of a science fiction movie (no pun intended), then check out these 5 great movies.

Cryptopia: Bitcoin, Blockchains And The Future Of The Internet (2020)

Cryptopia Bitcoin Blockchains and the Future of the InternetCryptopia is an ideal film for novice cryptocurrency people. So, if you’re a newbie in the crypto world, or want to brush up on your crypto skills, then check out this documentary. 

This film is a deep-dive into the crypto world, and it doesn’t shy away from explaining the good things about crypto, as well as the negative parts of it. Yes, crypto can be both a Godsend and a curse, depending on how you look at the narratives you’ll listen you in the documentary. In hindsight, the movie will explore the story of bitcoin, and how it has managed to evolve through the years with its ongoing promises that crypto is “the future.”

So, whether you’re a skeptic, or you want to learn more about crypto, you’ll get to see both sides of the debate – as a better alternative to regular currency in the future, or a financial disaster in the making. Either way, this documentary will answer any questions that you might have about crypto.

The Rise And Rise Of Bitcoin (2014)

The Rise and Rise of BitcoinEver wondered how cryptocurrency became a thing? Then check out The Rise and Rise of Bitcoin! The film covers the stories of some of the early adopters of Bitcoin, including Gavin Andresen who was famous for communicating directly with Satoshi Nakamoto to help him create better technology. (By the way, Nakamoto is mostly famous for authoring the Bitcoin white paper, and for devising the first blockchain database.

Overall, this movie was one of the major productions to cover the main points, in regards to how Bitcoin and its assets were created to begin with.

The Second Target (2019)

The Second TargetThe Second Target was written by Graham Holliday, and stars Athen Walton. The movie follows a group of local crypto thieves now having their eyes set on their latest target. They kidnap a detective they think is on their case, but end up kidnapping the wrong guy. To make matters worse, the son of the kidnapped man teams up with a stranger, and they plot to stop the thieves’ second heist and save the kidnapped man.

While you’ll be immersed in the action, you’ll be learning the basics of what crypto is.

Trust Machine: The Story Of Blockchain (2018)

Trust Machine understands that almost a decade has passed, since the crypto world has transformed things. Since its existence came to be, many different cryptocurrencies have been created, with a small percentage of them expected to stand the test of time after the dust settles. While some people are still skeptical about the concept of cryptocurrencies, there are some parts of the world where people actually use cryptocurrencies as a way to buy things. However, other places have faced significant problems, as a result of exchanging goods with crypto within the industry.

Crypto (2019)

Crypto MovieCrypto, despite its panning from critics, has garnered somewhat of a fanbase. With a stellar star cast like Alexis Bledel, Luke Hemsworth, and Jeremie Harris, it’s hard to not see this movie. And, with a thriving fanbase, this movie is not only for movie fans, but also for crypto fans. 

The story follows an anti-money laundering agent (Beau Knaff) who reunites with an old friend who’s now into mining cryptocurrency. Now, with a potato farm being on the verge of being repossessed, the two soon investigate a gallery, which may be tied into a multi-million-dollar money laundering scheme. 

It’s action-packed, and it has you cheering for the protagonists as you follow the story from beginning to end.

BONUS: Throwback Movie – Inside Job (2010)

Now, while the film doesn’t directly involve Bitcoin or blockchain, it’s a good appetizer for learning what they are. And, it’s a must-watch!

Inside Job covers the actions that made Bitcoin a household name in the first place. The movie sells the concept as a type of currency that can’t be manipulated, controlled, or corrupted by any government. 

However, the main topic of the documentary involves the late-2000s financial crisis. In 5 parts, the film will cover how changes in the policy environment and banking practices only added more fuel to the fire, rather than stop the crisis in its tracks. 

Critically acclaimed, and winning an Academy Award for Best Documentary, Inside Job will have you on the edge of your seat, as it takes you through the financial crash. All information in this documentary, as well as its controversial topic, are understandable for most audiences, regardless if you know about cryptocurrency or not. 

Conclusion

So, there you have it! That was our list of movies to check out, if you’re in the mood for learning about cryptocurrency. If you want to go down the rabbit hole about the topic, or if you’re in the mood for something different than your usual shows and movies, then head over to Netflix, online, or anywhere where movies are sold, and check out our picks on the best movies about crypto.

We hoped you enjoyed our list, and made it a movie night tonight! As you’ll see in these selected films, they’ll show you how cryptocurrency has changed people’s lives in so many ways than one, and has no plans of stopping. So, get out your popcorn, and take some good notes about crypto! 

Author Bio:

Kristin Herman is a writer and editor at Best essay writers. As a marketing writer, she blogs about the latest trends in digital marketing. In her spare time, she coaches up-and-coming marketers on how to perfect their advertising practices in the ever-evolving market.

For movie crypto movies: Crypto Movie Database

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Cryptocurrency Market Wrap

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Crypto news

Cryptocurrency news

Bitcoin hits a new all-time high.

Bitcoin just hit a new all-time high, surpassing the last all-time high of $19,783.21 on Dec. 18, 2017.

According to coingecko Bitcoin hit $19,860 on Nov 30, 2020.


Bitcoin’s attracts Mainstream media

As bitcoin hits its new all-time high, the mainstream media, The New York Times steps forward to cover the news and calls this time the rise is very less of a bubble this time around.


Bitfinex hackers move 5000 BTC in the midst of new highs

The hackers of Bitfinex who stole 119,756 BTC back in August 2016 have just moved 5045 BTC, worth $97 Million, to various addresses as the bitcoin prices reach all-time high since 2017.

A total of 14 transactions were sent as caught by btcparser.com


Venezuelan army turns to Bitcoin mining operations to overcome the country’s failing economy.

“Digital Assets Production Center of the Bolivarian Army of Venezuela” was inaugurated by the Venezuelan army.


No power supply to crypto miners in Yunnan province.

According to the Chinese crypto reporter Colin Wu, most of the miners have reported  that the authorities have passed the orders to shut the power being supplied to the Crypto Miners in Yunnan, which happens to be the third largest mining province in china.


Winklevoss twins on CNBC said that bitcoin is Gold 2.0, and it could disrupt gold.  When BTC reaches Gold’s market cap of $9 trillion each BTC will be worth $500,000.


Michael Sonnenshein, managing partner at Grayscale, says many public companies are adding bitcoin to their balance sheet.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

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