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The Effect Of Blockchain Technology In The Manufacturing Industry

Production line for manufactoring of the engines in the car factory.

Blockchain. That's been a popular word in recent years, predominantly associated with Bitcoin currency. An initiated few know what blockchain technology is and how it works. Because of its associations with Bitcoin and the media exposure therefrom, people have been making their own assumptions that have been largely tethered to banking, currency, and global markets. We're here to let you know that blockchain goes far beyond that and, in fact, wasn't initially developed with money in mind.

It seems like fiction, but Bitcoin, Ethereum, and the numerous other blockchain currencies are merely a byproduct of technology that values something much more important than money: ownership.

Try to break free from assigning value to things with monetary worth. That's where the idea of blockchain begins. Where it's gone from there is still expanding and finding its footing because the technology is smaller than the idea. After all, without the device we're writing this on and the one you're reading it on, blockchain can't do its thing.

 

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