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In January 2009, Time magazine had a headline that most people might have overlooked due to its repetitiveness.
The Chancellor of the Exchequer of the United Kingdom was on the verge of the second financial bailout of the banks.
This sentence became the first block of Bitcoin which then sparked a lot of people's thoughts. An unknown individual or group cryptographically encoded the first Bitcoin block, which was named the Genesis Block, and I prefer to refer to it as the official birth of the Blockchain rather than Bitcoin. The message is opposed to the centralized economic policies and the direct influence of centralized banking that is currently growing.
I know that January 3rd marks the beginning of the decentralized world which will not only be visible in the economy but will also be reflected in all branches of science and maybe future generations will look back to this date with more respect and importance.
A simple explanation of Blockchain from the perspective of a doctor may be both difficult and strange, but in the end, considering the progress that has been made in this science and the effects that have not yet reached the medical industries, it is not bad to take a simple look at it.
Imagine a box in which you can put money, but this box is not in a bank, institution or even your home or company.
Let's assume that five people put their money in this box and each person is assigned a drawer and a key.
If one person puts $10 in the box and wants to withdraw $20, what is the problem?
This is where we need banks, institutions and accountants in the current centralized world. If we want to eliminate these institutions and banks, what is the solution?
That's a great question! In a decentralized system like Blockchain, instead of money, data is used and instead of a server, Blockchain is used. This means that instead of relying on a third party or institution to verify a transaction or ownership, all participants in the network can verify it.
The goal of verification or certification of a task, whether a simple bank transfer or in other non-economic fields, is to achieve decentralization. With this goal in mind, you can access the 'box', i.e. the Blockchain, anywhere and anytime with your key (which we currently call a 'private key') and there is no need for a bank. In return for verification, you give a small amount of money to the verifiers, which we currently call 'miners'. The problem is clear and simple here.
As a physician, you can use Blockchain instead of money and instead of dedicated servers with hacking capabilities, with security and decentralization.
What is today called Cryptocurrency is only one example of Blockchain. In financial systems, new generations of DeFi are being born that eliminate the need for expensive third-party oversight.
For example, a patient's medical record should be accessible to anyone the patient trusts. If a patient from Iran moves to Canada, they would almost have to start from scratch and explain their missing history to their Canadian doctor on paper. Electronic records from Iran are not necessarily understandable to a Canadian doctor.
The patient has a space in the Blockchain where the record is stored. The patient has a private key. This gives any doctor, anywhere, access to the record and permission to update it. Verification and validation of the work is done in different ways, but examples of other storage such as cloud storage and more secure and transparent dedicated servers can also be used.
There are structural objections to Bitcoin today, but with some research, one can come to exciting conclusions about Blockchain. There is a certain amount of skepticism and logical objections to Blockchain, but the lack of awareness of this structure has sometimes made Bitcoin opponents sound like opponents of Blockchain as well.
You are absolutely right! The world of decentralized projects is a world beyond computers and the internet. It is a world without borders, without a single owner, with many owners, and open to all sciences that should be embraced sooner rather than later.
Satoshi Nakamoto, who first introduced the concept of Blockchain in the January 3rd edition of the Times Magazine, was never identified as a single person or group of people. They cleverly avoided any media attention and the decentralized nature of Blockchain made it possible for them to do so.
In this new world, there is still resistance to decentralization in certain fields such as banking, where governments such as America, China and India are wary of reducing the value of their national currency, among other reasons such as money laundering, lack of proper oversight, etc.
This weakness of the decentralized world is being addressed within the same decentralized world, but in the beginning of the road, the centralized rules must be understood in order to fully understand the decentralized world. There is a space for verification and validation that helps it to keep an eye on itself.
This is a world of unlimited projects, with new jobs and new skills being created, and old jobs being made obsolete, but always with resistance to change. We are at the beginning of a great future, and the sooner we embrace it, the better.
