The latest cryptocurrency is coming from the industrial design studio that helped pioneer the idea of digital currencies like Bitcoin.
Advantages:The blockchain is a set of digital ledger records that are not owned by anyone but are maintained by a network of computers around the world.
Its the first digital ledger that allows anyone with a computer to add data to it.
That information can be used to track people’s assets, pay for services, and settle transactions.
Adverse effects:The most obvious drawback is that there is no way to know whether the data being added is accurate or not.
But even if the information is correct, its not clear how that data will be used in the future, said Peter Smith, chief technology officer at Blockchain, the company behind the ICO.
“If we want to go back to Bitcoin, I don’t know that the network is going to let that happen.
So if you want to be able to transfer something like a diamond, you have to pay for it,” Smith said.”
So if you’re buying diamonds, then the blockchain is the way to do that, because it’s the only way you can get that diamond.”
Smith said that if people don’t trust the blockchain, they won’t be able spend their money on a product, and the currency could be devalued.