Wednesday, March 28, 2018

New Kids On The BlockChain

Hey Gang,

As a corporate trainer who always likes to be on top of the latest trends, I decided to tackle this crazy subject of cryptocurrency.  It's like regular currency, if regular currency was complicated, confusing and you needed a computer to access it.  Although understanding the basic principles was challenge, I didn't back down and plowed ahead. (JK, I have taken a lot of naps since I start researching this subject. )

So let's break it down in the simplest form.  People need stuff of value to buy stuff of necessity.  In other words, money buys food water and shelter.  But what is money, really?  It's something that we all have agreed has value.  Gold has been the diva of the currency world for the longest time, but its bright day in the sun may be soon over.  Now gold may be replaced with made-up bleeps and blips on the computer.

Cryptocurrency has been called digital cash. (I once tried to make digital friends, but they kept asking for favors, just like my flesh friends)  Someone can buy  crytocurrency and then turn around and sell it for traditional money.  Depending on the cryptocurrency that they bought and the market that they are selling it in, depends on whether they made a great investment or just bought a bag of magic beans.  (Depending on the market and the currency du'jour, someone could be smart one day and a sucker the next.) It's fun!  It's like taking everything you have always known about microeconomics and replacing it with a roulette wheel.

A fun invention did come from crytptocurrency and it is called a blockchain.  It prevents people from stealing your virtual money that may or may not have value.  A blockchain is like a ledger that is constantly updated.  The ledger isn't held in any one particular place.  It is everywhere on the internet, like cat videos.  No one (so far) can steal using blockchains, so that is great, unless there is an error then getting lost money would be impossible to get back.  (There is no customer service line for blockchains, it would just be a telephone representative saying that they cant help actual customer service.)

For now, I will continue to focus on the values in my life... my blog, my Gremlin and my self-autographed poster of Tony Robbins. (I autographed it myself!)

Stay Awake Kids!

Cathy Gainer Corporate Trainer

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