Just like any other phenomenon that happened to be in the public eye or the subject of hype, the blockchain has been fleshed out with legends and interpretations and they are often far separated from reality. Many still think that blockchain and Bitcoin are synonyms and that they are just another pyramid investment scheme not worth paying attention to.

A conservative approach is a natural defense mechanism against everything that's new, even if it helps to save energy, time and resources. But what if that approach is wrong? There are those who believe in the blockchain and think of it as progressive a technology as smartphones once were. What if they're right? What if this technology will change our lives as Internet once did?

There's no need to get down to brass tacks. Some general insight into the blockchain and its advantages is enough. There is an analogy between the blockchain and The Matrix movie from 1999: "Welcome to the real world, Neo."

Money History Prior to Crypto

Different nations have tried to come up with various solutions for the exchange of goods that were necessary for trade. While the advantages of gold and silver ensured their supremacy for millennia, the cultures that had no access to them managed to find some extraordinary solutions. For example, in Micronesia, they considered Rai stones (huge stone discs) a currency. Verbal legends about origin and history of the stones' owners were often attributed to them. Deals were conducted verbally and did not require relocation of the stones. Every new owner had to mark a stone as his, so the whole history of ownership was on the stone.

The stones are often called prototypes of the blockchain. But of course, that's quite an assumption. The true conditions for the advent of the blockchain included the development of the Internet and growing computing capacity of modern devices. Of course, the invention of the idea required someone who would come up with it and be able to bring it to life. Alas, the true creator of the blockchain is shrouded in mystery, just like the names of those who turned Rai stones into currency.

For some time after its invention, the blockchain was popular with a very tiny number of people. These people were not taken seriously. They were laughed at. But they never gave up believing in the technology, and they kept developing it and promoting it. In fact, there was an understanding of the intrinsic possibilities of the blockchain from the beginning. So it wasn't some irrational belief but was, rather, common sense.