IS BLOCKCHAIN TECHNOLOGY A REPLICA OF LIFE?

Blockchain

As I was in dire need to re-skill myself, I explored all of the latest technologies – Artificial Intelligence, Virtual Reality, Machine Learning, Blockchain, etc. And surprisingly I found myself attached to Blockchain, no not because of its potential to monetize but due to the similar nature, it has with Life.

How can a technology share its features with Life?

Seems strange, but for me, it isn’t.

WHAT IS BLOCKCHAIN TECHNOLOGY?

Have you ever driven on a road? Yes, there are rules, traffic police, barricades, traffic symbol dictating a set of rules one must follow but when you start your engine and progress slowly towards the road, you have an unconscious trust shared with your fellow drivers. The belief that dictates they wouldn’t hit you, the faith that everyone would follow the rules. The trust that assures you that you could reach home safely.

That’s precisely what a Blockchain technology is:

a distributed, decentralized network working with a consensus protocol, where every participant[node] knows he has to follow the rules to stay in the system, to protect the network to help it grow, to make it safe for yourself and others.

BLOCKCHAIN SYNONYM TO LIFE?

Blockchain Feature #1

It derives its signature from the previous block.

Don’t you have a relationship with your past? If you work hard as a child, you may be in one of the top institutes across the globe. In fact, every action you take in the present has a response in future.

Blockchain Feature #2

No deletion possible on a Blockchain Network

Could you delete any of your experiences? The mistakes, the guilt  the errors you wish to vanish from your life. But all in vain, no experience could ever be deleted from your life. Similarly, once a bloc has been validated it cannot be deleted from the network, it stays for eternity.

Blockchain Feature #3

One could download/replicate a block ‘n’ number of times.

Don’t we look for people with similar interests in our network? Just like according to attraction law in physics, opposites attract and in chemistry of relationship, like dissolves like. Similarly, on a blockchain network each block could be downloaded/duplicated ‘n’ number of times.

Blockchain Feature #4

Blockchain is a decentralized system governed by none but works best in a
network/boundary defined by itself.

We all have our comfort zone, our group of family and friends, our own protocol [family, society values], we have created our own principles, limitations, fears, aspirations that may or may not be matched by others in our group.

We are a social animal, where we need people to collaborate, share and grow.

And Blockchain technology works on a similar principle of being governed by a community of like-minded people, who share a common goal, common social values and collaborate to keep the network/society safe, workable and well-nourished.

DISCLAIMER:
THE VIEWS AND OPINIONS EXPRESSED IN THIS ARTICLE ARE THOSE OF THE AUTHOR AND DO NOT REFLECT THE VIEWS OF SPEAKIN, ITS MANAGEMENT OR AFFILIATES. SPEAKIN MAKES NO REPRESENTATION AS TO ACCURACY, COMPLETENESS, CORRECTNESS, SUITABILITY OR VALIDITY OF ANY INFORMATION ON THIS ARTICLE AND WILL NOT BE LIABLE FOR ANY ERRORS, OMISSIONS OR DELAYS IN THIS INFORMATION OR DAMAGES ARISING FROM ITS DISPLAY OR USE.
Samiksha Seth

Author: Samiksha Seth

Samiksha Seth is a storyteller with over twelve years of industry experience delivering IT solutions in BFSI, Big Data, Blockchain, Fintech and e-commerce domain. She has worked on projects for some of the world’s leading financial companies in India, Europe, and North America.