The recent Facebook data breach is all the evidence you need. Central authorities can never be trusted, and as we are heading towards a fully digitized future, the people will have the chance to take back control of their lives. The blockchain technology has limitless potential and will inevitably provide us with the tools necessary to fight corruption and injustice. We have already come up with decentralized, reliable peer-to-peer transaction systems that have introduced a whole new level of trust, which is the main reason why we are currently witnessing the enormous growth of the cryptocurrency industry. But there's more to it.
See, the problem with Facebook is this is not the first time something like this happens. The company has endured numerous data breaches over the last 8 years, having the data of billions of people leaked on a regular basis and never having to face serious repercussions for this mess. Living in the digital age, we must understand that information is extremely valuable, and personal information is a matter of ownership. This basically means that the moment you share it with a private company you are actually handing them ownership over your data, so your information is not actually safe, even if the company can keep it safe from leaks.
This used to be necessary evil, as we hadn't figured out a way to get around this problem up until recently. But now we do have an option, and it only goes to show how obsolete our ways of managing our digital identity have become. I am talking about self-sovereign identity solutions (SSIDs), which is just another brilliant way of utilizing the blockchain technology in order to solve problems that have been stalling our development for decades. Blockchain-based indentity management systems built on decentralized, reliable, incorruptible public ledgers are the future, and the Bitcoin Cash network has enormous potential. It could support such systems effortlessly.
The main idea is that individuals can use validated personal data securely and privately in a decentralized ecosystem, which they can use to transact with each other. In this way, an individual can verify the authenticity of another individual's identity without having access to the identity itself, introducing a whole new level of trust and laying the groundwork for many amazing innovations. No KYC, no intermediary, no third parties, nada. Just you, the rightful owner of your valuable and sensitive personal data, and an ocean of endless possibilities waiting to be discovered.
This is a relatively new concept, but also one that will gain major attention in the not so distant future, and I believe Bitcoin Cash can play a significant role in the development of this technology. We just need to push for it. We need more amazing devs working on the network, building stuff, brainstorming, dreaming. The world is changing at a very fast pace, and the ever-growing internet economy is finally starting to go mainstream, so we need to make sure we will be the ones to take advantage of this surge in the number of internet users getting interested in the crypto space. It's an amazing opportunity for BCH to showcase its potential, and it's up to us to spread the word and put it in people's hands.
That is the easiest way to convince someone to get involved, and at the same time the most effective way to teach them how crypto works, as far as I'm concerned. Just send them some BCH. The moment they realize that they OWN some, they get super-interested and are willing to go the extra mile and learn a few more things about this internet money thing. And then they begin digging deeper and deeper, realizing what they have been missing out on and getting addicted to crypto, just like all of us are.
People love freedom; it's in our DNA. We are all free spirits. Crypto people don't want to be ruled, and this is why we are in this business. It's not just about the money. I'm sure most of us are fed up with governments and central banks stealing from us and always getting away with their crimes, and this was what made us lose interest in those worthless banknotes that lose value just by sitting there in your account at a higher rate than the interest received. Their centralized token is absolute crap, and they control 100% of the inflation and alter it at will without having to ask for anyone's permission. And then they demand access to sensitive personal information they can't even keep safe in the first place.
I'm telling you, this centralized circus is doomed.
I appreciate your attention,
