One Minute Block Time
Issue #0: Permissionless
Each post will explain one reason why blockchain is awesome in 1 minute or less!
Do you remember the feeling when you got your first paycheck?
That feeling of having *your* money.
The feeling of freedom. The freedom to buy whatever you want.
It's a similar feeling to spending a $20 bill.
There's no one to stop you from spending it.
Cash is great but these days most of our money is digital.
When you buy something online, there's no similar experience to handing someone a $20 bill.
Since it's impossible to shove bits of paper through your internet router, you need corporations like banks and credit card companies to make payments for you.
You know them, they know the merchant, and they facilitate the transaction.
However somethings fundamentally different from spending that $20 bill.
When you buy something online, you need to ask Mastercard's permission.
Online, you're back to being 12 asking your parents permission to buy that chocolate bar.
"Visa hasn’t stopped me from using Amazon, what's the big deal?"
The issue isn't if they've done it, it's that they can.
Do you want to be in a position where you have to ask someone to spend your own money?
Is the $20 bill experience even possible online?
Yes, with blockchain!
There's no company to say no.
It's more like the internet, an open protocol.
It's like using a 2-way radio and chatting on channel 11. If you're on the right frequency, no one can stop you from talking.
The internet is a set of instructions for computers to send information to each other.
A Blockchain is a set of instructions for computers to send money to each other.
Sending money online without needing a company is a fundamental technological breakthrough!
It’s your money, online.
Do you think the financial infrastructure of the future should look more like the internet, or like Facebook?